<b>CRUDE OIL</b>

NEW YORK Oil prices plunged 5% to their lowest levels this year on Wednesday as US crude inventories surged much more than expected to a …The post <b>CRUDE OIL</b> appeared first on crude-oil.news.

Five Injured After Axe Attackers Go On Rampage At Dusseldorf Train Station

At least five people were injured after two men armed with axes went on a rampage at Dusseldorf’s main train station, according to local press. A heavy police presence has been deployed to the scene and it’s reported that four people have been arrested, according to Bild, although other conflicting reports have the attackers still at large. 

 

Witnesses reported seeing injured people lying on the ground, and at least one man armed with an axe. Other reports said the attacker used a machete according to the BBC. Police have yet to confirm details, and there are no reports of fatalities.

According to ABC, the regional police said on Twitter that Dusseldorf’s station is currently closed due to a “comprehensive” police response there.

alle Bahnen stoppen, viel Feuerwehr und Polizei am #Hauptbahnhof #Düsseldorf pic.twitter.com/Szb1tbjFKX

— Martin-S. Abel (@MSA_) March 9, 2017

The police spokesperson could not confirm whether any suspects were arrested or how serious the injuries were. Several trains have been cancelled or diverted due to the police activity, according to tweets by regional train DB Regio.

Pictured: Emergency services at the scene this evening

Federal police spokesman for the regional state of North Rhine-Wesphalia, Rainer Kerstiens, described the attack to Deutsche Welle as an “amok attack.”

A reporter for German newspaper Der Speigel at the scene said he had seen two injured people, and the situation was returning to calm. Images shared on social media from the scene showed that the station had been cordoned off by police, and helicopters hovered overhead.

Emergency vehicles filed through Konrad Adenauer square outside the station entrance. Duesseldorf’s Hauptbahnhof is the city’s primary railway station, serving a quarter of a million passengers daily.

So far these has been no information about the identity – or origin – of the attackers.

The post Five Injured After Axe Attackers Go On Rampage At Dusseldorf Train Station appeared first on crude-oil.news.

Can The Permian Outgrow The Giant Saudi Ghawar Field?

When the Permian Basin in West Texas—which has been pumping oil for nearly a century—was fueling the U.S. and Allied forces in World War II, currently the world’s biggest conventional oil field, Saudi Arabia’s Ghawar, had not even been discovered. Ghawar, discovered in 1948, was put in production in the 1950s, and is now thought to be producing oil at a rate of 5 million barrels per day. Meanwhile, the Permian had been set for a decline in output until a decade or so ago. Hydraulic fracturing technologies allowed drillers…

Is The Oil Price Plunge A Turning Point? 

WTI futures fell $2.86 from $53.14 to $50.28 per barrel, and Brent futures dropped $3.81 from $55.92 to $52.11 per barrel. WTI is trading below $49 and Brent below $52 per barrel at the time of writing. The apparent cause was a larger-than-expected 8.2 million-barrel (mmb) addition to U.S. crude oil inventories. Over-Reaction Based on history, we can see that this was an over-reaction. WTI has fallen below the $50 to $55 per barrel range in which oil futures have traded for the last 3 months (Figure 1). (Click to enlarge)Figure 1. Oil prices have…