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Oil Set for Best Weekly Run in Year as Saudi Tumult Roils Market
Oil is heading for the longest run of weekly gains since October 2016 as global supplies tighten and on signs the Organization of Petroleum Exporting Countries will extend output curbs past the end of March. Saudi Arabia on Thursday advised its nationals to leave Lebanon, fueling fears of a confrontation with Iran in a country long known for being a battleground for proxy wars in the Middle East. “Geopolitical risks have taken center stage in the oil market again,” said Jens Naervig Pedersen, senior analyst at Danske Bank A/S in Copenhagen. “The rising tensions between Saudi Arabia and Iran have raised concerns in the oil market of an imminent supply disruption.” Saudi Arabia said it plans to cut crude exports to all the regions it ships to next month. Shipments will fall by 120,000 barrels a day in December from November, a spokesman for the Energy Ministry said, without specifying what those levels would be. Bloomberg calculations from vessel-tracking data estimated flows in October at 6.989 million a day. Click Read More below for additional information.
Celebrating the People Who Keep Mail Moving
There’s nothing like a championship victory parade to bring people together. And even if you watched or were there for the Knicks and their fans celebrating in New York City last week, you may have missed the reaction of the crowd to a postal worker simply doing their job.
As a couple million people lined the streets in Manhattan to celebrate the team's NBA title, video captured a USPS carrier making deliveries by the parade route after police allowed him to pass through a secure area.
The crowd clapped and cheered. Social media lit up. And the story got picked up by some TV stations, which is how I found out about it.
It wasn’t that surprising to me that no matter what's happening around them, postal workers show up and get their work done. It’s the kind of commitment that National Postal Workers Day, observed annually on July 1, was created to recognize.
