The man accused of setting fire to a California warehouse likened himself to Luigi Mangione after allegedly lighting multiple fires in the name of anti-capitalism. The warehouse, about 40 miles east of Los Angeles and owned by the consumer goods company Kimberly-Clark Corp, was set ablaze last Tuesday. Twenty employees were inside the facility when the fire was set, but no one was harmed. Abdulkarim is an employee of NFI Industries — a third-party distributor for Kimberly-Clark Corp. He is accused of intentionally starting multiple fires at the 1.2 million-square-foot warehouse. In California, aggravated arson is applicable to a crime when the damage from the fire exceeds $10.1 million, and carries a penalty of ten years to life. Based on initial estimates, the paper products were worth $500 million and the building was worth $150 million.

Futures fell 2.5 percent in New York. China’s oil refining dropped the most in three years in July, while crude output retreated from the highest this year. Libya’s biggest oil field, Sharara, cut output by more than 30 percent because of security threats, a person familiar with the matter said. Meanwhile, the dollar strengthened, eroding the lure of commodities as a store of value. "We’re seeing some strength in the dollar, and the preponderance of news seems to be favoring the bears right now," Phil Flynn, senior market analyst at Price Futures Group Inc. in Chicago, said by telephone. "If you look at the China data this morning, when it came to the China refinery runs being down in July, that’s adding to the perception of slowing demand, and it’s offsetting the concerns about Libyan oil production." Click Read More below for additional detail.

Workers have contained nearly half of the crude oil spilled near Rock River in northwest Iowa over the weekend following a freight train derailment on Friday, BNSF Railway Co said. About 100,000 gallons had been hemmed off using booms out of the estimated 230,000 gallons spilled, BNSF said in a statement on Saturday. The spill has raised concerns about drinking water downstream. The company did not respond to questions on Sunday about the progress of the cleanup. No one was hurt in the derailment, in which 32 cars came off the rails, 14 of which leaked at least some of their contents, BNSF said. Click Read More below for additional information.