USA TODAY
About a dozen people were arrested during small Inauguration Day protests in the Pacific Northwest intended to pressure President Joe Biden into action on immigration and police reform.
Police in Portland said in a statement they arrested eight Wednesday afternoon on charges of felony criminal mischief, riot and possession of a destructive device after some in a group of 150 people smashed windows and vandalized the headquarters of the Democratic Party of Oregon.
The FBI previously warned of possible armed protests around the inauguration in state capitals by supporters of former President Donald Trump, but these demonstrators were described by local media as antifascist and anarchists.
Oil extends gains on expectations for shrinking U.S. supplies
Andres Guerra Luz, Bloomberg
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In this Thursday evening, April 2, 2020 photo, traffic passes over the Midland-Odessa county line in front of an oil rig storage yard. (Odessa American/Eli Hartman)Eli Hartman/Associated Press
Oil advanced after settling at a fresh 10-month high, with an industry report showing U.S. crude inventories fell by more than expected.
Futures rose further above $53 a barrel after the American Petroleum Institute was said to report that domestic crude stockpiles fell by 5.82 million barrels last week. Inventories are expected to decline by 3 million barrels, according to the median estimate of a Bloomberg survey for Wednesday’s U.S. government storage report.
Oil closes above $50, marking another milestone in pandemic recovery
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FILE - In this April 17, 2020 file photo, the sun sets behind an array of pump jacks outside Midland, Texas. Oil closed above $50 a barrel for the first time since February, marking another milestone toward Houston’s recovery from the worst oil bust in a generation.Eli Hartman, MBI / Associated Press
Oil closed above $50 a barrel for the first time since February, marking a significant milestone toward Houston’s recovery from the worst oil bust in a generation.
West Texas Intermediate, the U.S. crude benchmark, settled at $50.63 a barrel in New York on Wednesday, the highest close in more than 10 months and a dramatic turnaround from late April, when prices went negative for the first time in history. Analysts say $50 oil is enough for many U.S. shale companies to break even, but not quite high enough to make a profit.
Oil gets a Trump bump, but demand pressures continue
Dan Graeber, Correspondent
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Demand continues to pose a risk to oil prices.Eli Hartman, MBI / Associated Press
President Trump s reluctant signing of the $900 billion stimulus package is giving a lift to oil prices, but analysts expect weak demand to weigh on markets this week.
The stimulus, enacted as part of a $2.3 trillion spending bill to keep the government running, includes one-time payments of $600 to individual taxpayers and supplements state unemployment insurance checks with an extra $300 per week. Saving taxpayers and averting a government shutdown helped push the price for Brent crude oil, the international benchmark, toward $52 per barrel in early Monday trading, extending a rally that began with vaccine news in early November.
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