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According to the latest numbers from the Department of Energy, inventories of crude oil, gasoline and distillate (including diesel) rose by a collective 15.3 million barrels in the week ended Dec 5. The expected amount: Just 800,000 barrels. The timing of this increase is especially striking because stocks are usually run down toward year end to reduce refiners’ tax bills.
It’s well recognized that the level of public passion on issues varies, and those who care most about the issue matter the most for policy makers. Overall, Americans who rank the Israeli-Palestinian issue among the top three tend to want the United States to lean toward Israel more. But this is not necessarily a clear indication of what policy should be, in part because of another issue that Americans rank highly in their priorities: human rights.
The Ministry of Labor has taken penal action against as many as 707 companies and establishments, which failed to implement a mandatory Wage Protection Program. Abdullah Abu Thunain, deputy minister for inspection and work environment development, said that the punitive measures were taken following raids carried out by inspectors from the ministry during the first week of this month.
The Saudi Arabian Mining Company (Ma'aden) investments have now exceeded SR85 billion making the Kingdom a major player in the phosphate and aluminum industry, according to Ma'aden sources who discussed in detail about Ma'aden's operation and plans during a media field trip to Ras Al-Khair.
The Senate Intelligence Committee prepared to release a report on the CIA's anti-terrorism tactics on Tuesday and U.S. officials moved to shore up security at American facilities around the world as a precaution.
The current cycle looks no different: a short-term supply surplus is likely to turn into a medium-term supply deficit, with the industry quickly switching back into its 1990s mode of chronic under-investment. However, there are some new features to the latest slump. Key among these is the role of fracking and the growth of US shale oil. The boom in US shale oil was created by crude at $100 a barrel, and how the industry will react to a price downturn is yet to be seen.
The Syrian military has accused Israel of carrying out two air strikes on Syria, near the capital Damascus. Israeli planes bombed the area near Damascus international airport and the town of Dimas, the Syrian army said in a statement carried on state television.
Saudi Arabia’s massive spending on infrastructure and overhaul of its regulatory environment has made the country even more attractive for foreign investors.
And there would have been less time to plan this mission, which was was moved up when intelligence sources indicated that AQAP, which had threatened to kill Somers by Saturday, might kill him even sooner. A video posted online this past week showed Somers, a freelance photographer, asking for help because he thought he would be killed.
However much President Barack Obama longed for a rare foreign policy success via a nuclear agreement with Iran, he didn’t want it so badly as to strike a bad deal. Hence, the parties only agreed to an uneasy seven-month rollover of the interim agreement that caps both Iran’s nuclear programme and related sanctions.
