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Oil prices spike as Saudi Arabia, Russia extend 1.3 million barrel a day oil cut through December

Published Wed, 26 Feb 2025 17:46:14 GMT

By JON GAMBRELL (Associated Press)DUBAI, United Arab Emirates (AP) — Saudi Arabia and Russia agreed Tuesday to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices. The dual announcements from Riyadh and Moscow pushed benchmark Brent crude above $90 a barrel in trading Tuesday afternoon, a price unseen in the market since November. The countries’ moves could increase inflation and the cost for motorists at gasoline pumps. It also puts new pressure on Saudi Arabia’s relationship with the United States, as President Joe Biden last year warned the kingdom there would be unspecified “consequences” for partnering with Russia on cuts as Moscow wages war on Ukraine. Saudi Arabia’s announcement, carried by the state-run Saudi Press Agency, said the country still would monitor the market and could take further action if necessary.“This additi...

United flights grounded nationwide, including at Denver International Airport, due to technology issue

Published Wed, 26 Feb 2025 17:46:14 GMT

United Airlines flights in Denver are grounded until at least noon due to a global problem with the airline’s computer system, according to Denver International Airport.The problem is impacting at least 35 flights that are trying to land at the airport, said spokesperson Stephanie Fiugeroa.According to a tweet from United, the airline is “holding all aircraft at their departure airports. Flights that are already airborne are continuing to their destination as planned. We will share more information as it becomes available.”We are experiencing a systemwide technology issue and are holding all aircraft at their departure airports. Flights that are already airborne are continuing to their destination as planned. We will share more information as it becomes available. Thank you for your patience as we…— United Airlines (@united) September 5, 2023This is a developing story.Get more Colorado news by signing up for our Mile High Roundup email newsletter.

Quick Fix: Try Tandoori Lamb with Cucumber and Tomato Rice for a great midweek meal

Published Wed, 26 Feb 2025 17:46:14 GMT

I love the intriguing aroma and flavors of foods cooked in an Indian tandoor oven. To capture some of these flavors at home, I used a spice seasoned yogurt sauce, using spices easily at hand, ginger, coriander and cayenne pepper. Although not made in a special oven, the meal fills my requirement for some great Indian food, midweek.Helpful Hints:— You can use two crushed garlic cloves instead of minced garlic.— You can use two teaspoons ground ginger instead of fresh ginger. Make sure it is less than 6 months old.Countdown:— Make marinade.— Add lamb.— Make rice dish rice and add vegetables while lamb marinates.— Cook lamb and complete the recipe.Shopping List:To buy: 3/4 pound leg of lamb cubes, 1 container Greek-style plain yogurt, 1 small piece fresh ginger, 1 package microwaveable brown rice, 1 bottle ground coriander, 1 bottle cayenne pepper, 1 jar minced garlic, 1 bunch fresh mint, 1 cucumber, 1 container cherry tomatoes.Staples: olive oil, sugar, salt and black peppercorns.—TAN...

Econometer: Is the Federal Reserve correct in considering additional rate hikes?

Published Wed, 26 Feb 2025 17:46:14 GMT

Phillip Molnar | The San Diego Union-Tribune (TNS)Federal Reserve Chair Jerome Powell said in a speech recently that the central bank would stamp out rapid inflation “until the job is done” despite a dropping inflation rate.While inflation has been lowering, he said officials want to see more progress to convince them that they are truly bringing price increases under control.“We are prepared to raise rates further if appropriate and intend to hold policy at a restrictive level until we are confident that inflation is moving sustainably down toward our objective,” he said.Critics have argued raising interest rates tamper economic growth and the Fed’s strategy so far isn’t working.Q: Is the Federal Reserve correct in considering additional rate hikes?Jamie Moraga, Franklin RevereYES: Additional rate hikes could be warranted if they reduce higher prices for goods and services and get inflation back to the 2 percent goal. The Fed should be careful how much they ...

Wait times to exit Burning Man drop after flooding left tens of thousands stranded in Nevada desert

Published Wed, 26 Feb 2025 17:46:14 GMT

BLACK ROCK DESERT, Nev. (AP) — Wait times for tens of thousands of Burning Man partygoers trying to exit the mud-caked northern Nevada desert are beginning to decrease after flooded roads left them stranded there for days.Event organizers said they started to let traffic flow out on the main road around 2 p.m. local time Monday — even as they urged attendees to delay their exit to help ease traffic. About two hours after the mass departure began, organizers estimated a wait time of about five hours.By Tuesday morning, wait times had dropped to between two and three hours, according to the official Burning Man account on the social network X, formerly known as Twitter.The annual gathering, which launched on a San Francisco beach in 1986, attracts nearly 80,000 artists, musicians and activists for a week-long mix of wilderness camping and avant-garde performances.The festival had been closed to vehicles after more than a half-inch (1.3 centimeters) of rain fell Friday, cau...

Stolen car allegedly involved in recent carjacking collides into vehicle in Lynn, injuring one

Published Wed, 26 Feb 2025 17:46:14 GMT

A stolen car that fled police in Lynn and collided with another vehicle sent one person to the hospital with injuries Tuesday morning, according to authorities.Two suspects have been taken into custody, Lt. Rick Connick said in a statement.Officers on patrol in the area of Chestnut and Essex streets saw the stolen car, which they suspect was also “involved in a recent carjacking incident,” collide with another vehicle at the intersection, Lt. Rick Connick said in a statement.The incident happened at about 7:13 a.m. A white Honda was seen flipped over on its roof in the middle of the road, while a black Nissan appeared to have sustained front-end damage and caused a sign to topple over in the parking lot of Tony Tipico restaurant.Connick did not release information on the vehicles involved nor the condition of the victim. The identities of the victim and suspects also were not shared.

The student loan ‘on-ramp’: Should you delay payments for a year?

Published Wed, 26 Feb 2025 17:46:14 GMT

By Eliza Haverstock | NerdWalletFederal student loan payments will resume in October — but a 12-month “on-ramp” will protect borrowers from the worst consequences of skipping student loan payments.It’s not a continuation of the interest-free pandemic payment pause, however.“During this period, if you can pay your monthly bills, you should,” President Joe Biden said in a June 30 press conference. “But if you cannot, if you miss payments, this ‘on-ramp’ will temporarily remove the threat of default or having your credit harmed, which can hurt borrowers for years to come.”Just because you can postpone student loan payments for up to a year doesn’t mean you should. Here’s what you need to know about the student loan on-ramp, the consequences and alternatives.How does the on-ramp work?The on-ramp will run from Oct. 1, 2023, to Sept. 30, 2024. You don’t need to sign up for the on-ramp; it’s automatic. So if you simply don’t pay, it’ll be in effect.During this time, borrowers who don’t pay...

Trial for ‘Freedom Convoy’ organizers not about their political beliefs, Crown says

Published Wed, 26 Feb 2025 17:46:14 GMT

OTTAWA — “Freedom Convoy” organizers Tamara Lich and Chris Barber are not trial for their political beliefs, a Crown prosecutor told an Ottawa courtroom Tuesday.Rather, they must answer to charges related to the means they used to achieve their goal.Tim Radcliffe told the court the two organizers didn’t just “hold the line” during their illegal occupation of downtown Ottawa last year, they “crossed the line, and in so doing they committed multiple crimes.”“This case is not about their political views,” Radcliffe said. “What’s at issue … is the means they employed, not the ends.”Lich and Barber were part of the original group that mobilized a convoy of big rigs and other trucks and cars to drive to Ottawa in winter 2022 to protest COVID-19 public health restrictions and the Liberal government.They’re charged with mischief, counselling others to commit mischief, intimidation and obstructing police.Barber, who owns...

1 dead, 1 injured after being struck by truck in Scarborough

Published Wed, 26 Feb 2025 17:46:14 GMT

An elderly man has died at the scene and woman was taken to hospital with serious injuries after they were struck by a truck in Scarborough on Tuesday afternoon, police confirm.It happened at around 12:27 p.m. in the Steeles Avenue East and Silver Star Boulevard area.Police say there are road closures in the immediate area.It’s not clear yet if any charges are pending.No further details were immediately available.More to comeCOLLISION: UPDATESteeles Av East + Silver Star Blvd– Police are on scene investigating– One person was pronounced deceased at the scene– One person was transported to hospital via emergency run^lb— Toronto Police Operations (@TPSOperations) September 5, 2023

61 indicted in Georgia on racketeering charges connected to ‘Stop Cop City’ movement

Published Wed, 26 Feb 2025 17:46:14 GMT

ATLANTA (AP) — Sixty-one people have been indicted in Georgia on racketeering charges following a long-running state investigation into protests against a proposed police and training facility in the Atlanta area that critics call “Cop City.”The sweeping indictment was brought by Republican Attorney General Chris Carr. Prosecutors allege the defendants are “militant anarchists” who have supported a violent movement that prosecutors trace to the widespread 2020 racial justice protests.The “Stop Cop City” effort has gone on for more than two years and at times has veered into vandalism and violence. Opponents say they fear the Atlanta-area training center will lead to greater militarization of the police and that its construction will exacerbate environmental damage in a poor, majority-Black area.R.j. Rico, The Associated Press