Middle East unrest continues to roil oil markets

While the poles are shifting away from the Middle East in terms of oil production, global economic concerns and conditions remained anchored solidly to the region, Graeber writes.?

By Daniel J. Graeber,?Guest blogger / July 23, 2013

The Zueitina oil terminal is shown in Zueitina, Libya, about 75 miles west of Benghazi after protestors shut down the port last week, demanding better employment prospects.

Esam Al-Fetori/Reuters/File

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Labor demonstrations in eastern Libya have forced the closure of a key port for nearly a week. A small band of protesters have created big problems for the country as it tries to chart a sustainable course nearly two years after revolution. The revival of some oil developments in Libya in early July helped pull oil prices back from 15-month highs. The post-revolutionary government, however, has shown it doesn't quite have the foundation built to succeed economically this early in the game. The internal failures of Arab governments, meanwhile, are starting to have global implications that extend beyond foreign affairs. Without some advances, the region may start to bring the rest of the world down with it.

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Libyan authorities?said?the situation in the eastern port of Zueitina is much as it was last week when a small group of protesters managed to shut the port down, demanding better employment prospects.?Oil production?from Libya hasn't yet returned to its pre-war levels. The problem is exacerbated further when considering facilities tied to the port handle about 20 percent of Libya's oil exports. When war closed most of Libya down in 2011, the International Energy Agency called for a release of strategic petroleum reserves. There's no immediate sign that will happen this time around because political tensions appear more of a market driver than supply issues.?(Related Article:?Australia ? Next Petro Superstate?)

U.S. crude oil prices July 8 fell from a 15-month high to settle at $103.14 in response to word the Sharara oil field in Libya was about toresume?operations after authorities there reached a deal with armed bandits, who closed it down in June. Oil markets by then had been reacting to the July 3rd ouster of Egyptian President Mohamed Morsi. By?Monday, crude oil was trading at $107.10, nearly 4 percent higher than when analysts were?predicting?the bulls had run out of steam because of Libyan expectations.?

Zimbabwe cuts 2013 growth forecast to 3.4 percent

HARARE (Reuters) - Zimbabwe expects economic expansion of 3.4 percent in 2013 from the 5 percent seen earlier and needs next week's elections to be free and fair to help rekindle growth, Finance Minister Tendai Biti said on Thursday.

"The bulk cause of the underperformance of the economy has had to do with elections," Biti told a news conference, adding that output in the mining and agriculture sectors had plunged.

Biti is a senior official in the Movement for Democratic Change, which will square off against President Robert Mugabe's ZANU-PF in polls next week. Biti has previously said the government has no money to pay for the poll.

Source: http://news.yahoo.com/zimbabwe-cuts-2013-growth-forecast-3-4-percent-134237606.html

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Chrissy Teigen, John Legend to Wed in September

Source: http://www.thehollywoodgossip.com/2013/07/chrissy-teigen-john-legend-to-wed-in-september/

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Rainy, warm weather continues to boost SD crops

SIOUX FALLS, S.D. (AP) -- Scattered rain and above-normal temperatures continued to boost crop development in South Dakota over the past week.

The Agriculture Department says in its latest crop and weather report that there were 5.8 days suitable for fieldwork on average. Topsoil moisture supplies are rated 4 percent very short, 21 percent short, 70 percent and 5 percent surplus.

Spring wheat turning color was at 69 percent, behind 100 percent at this time last year.

Pasture and range conditions are 1 percent very poor, 5 percent poor, 20 percent fair, 59 percent good and 15 percent excellent

Source: http://news.yahoo.com/rainy-warm-weather-continues-boost-132831468.html

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Nichaon Jindapon claims Women's Singles crown at Canada Open ...

Nichaon Jindapon claims Women?s Singles crown at Canada Open 2013 ? Badminton News

Thailand?s talented and spirited shuttler, Nichaon Jindapon, sailed smoothly and clinched Women?s Singles crown at the Yonex Canada Open 2013 in Richmond, on Sunday, July 21.

The top seeded Jindapon showed a great performance in the final encounter and outplayed Hong Kong?s Pui Yin Yip in a completely commanding fashion.

Jindapon elevated her level of play at crucial stages and remained successful in overpowering her lower ranked challenger in 37 minutes. She won the final battle in straight games with a remarkable 21-18 and 21-16 score on the board.

On the contrary, the second seeded Pui Yin fought really hard but could not get any considerable advantage especially in the ending points of both games. She eventually lost the final clash without winning any game.

Right from the starting points of opening set, both ladies locked horns in an aggressive manner by playing attacking badminton. They were fast in taking the bird early and stayed close to each other in starting points.

Pui Yin did not let her higher ranked opponent to dictate the pace as her movement was really fast. However, she could not create gap as her opponent was also playing at the same level.

However, the in-form Nichaon did not lose her focus on court and she also remained calm. Until the one-minute interval, she was in slightly better position.

After the interval, the Hong Kong lady tried to play with aggression but could not create gaps and also remained struggling at net area.

Meanwhile, Nichaon maintained her focus in the arena all the way and remained successful in grabbing the first game with a decent 21-18 score on the board.

In the following set, the aggressive Thai shuttler got a wonderful flow in the following set as she dominated the pace of rallies in the opening half. However, she could not get a comfortable lead until the break as her rival remained close on the board.

After the interval, the impressive Nichaon controlled all affairs with her remarkable skills and started to stretch the lead. The positive play and aggression enabled her to wind up the second game with a convincing margin of 21-16.

Source: http://blogs.bettor.com/Nichaon-Jindapon-claims-Womens-Singles-crown-at-Canada-Open-2013-Badminton-news-a217768

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Obama eyeing Fed's Raskin for No. two post at Treasury: source

WASHINGTON (Reuters) - President Barack Obama is considering nominating Federal Reserve Governor Sarah Bloom Raskin to replace the U.S. Treasury Department's No. 2 official, Neal Wolin, a source familiar with the matter said on Tuesday.

Raskin, a former state banking regulator, has served on the U.S. central bank's board since October 2010. She would bring bank regulatory experience to the job to complement the budgetary expertise of Treasury Secretary Jack Lew.

The source said Raskin, 52, appeared to be a leading candidate to replace Wolin, one of the Obama administration's point people on financial regulatory reform. The White House said it had no personnel announcements to make and the Fed declined to comment. Bloomberg reported on Monday that the White House was considering Raskin.

The Treasury on Tuesday announced that Wolin would step down from his post at the end of next month after more than four years in the job.

Wolin, 51, has been a key behind-the-curtains figure during his tenure, best known for helping lead the push for the Dodd-Frank financial reform law and for overseeing implementation of the new rules it put in place. He has yet to announce his future plans.

"Neal has played a key role on my economic team," President Barack Obama said in a statement. "His deep knowledge and excellent judgment helped us prevent a second Great Depression, pass tough new Wall Street reform, strengthen our financial system, foster growth here at home, and promote economic development around the world."

If Obama nominates Raskin, it would open up a second vacancy on the seven-person Fed board. Fed Governor Elizabeth Duke, another banking expert, said earlier this month that she was stepping down on August 31.

Two vacancies would allow Obama to potentially package a slate of nominees in way that would be politically palatable to the closely divided Senate, which would need to confirm them.

To fill the previous two vacancies, Obama selected one Republican and one Democrat.

Fed Chairman Ben Bernanke is widely expected to step down when his four-year term expires on January 31.

(Reporting by Margaret Chadbourn; Editing by Bill Trott)

Source: http://news.yahoo.com/obama-eyeing-feds-raskin-no-two-post-treasury-143927231.html

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Kate Middleton goes into labour - but will royal baby be born under zodiac sign Cancer or Leo?

22 Jul 2013 11:08

Astrologers have predicted that Kate and William's baby will have a "very Cancerian personality" even if it is born late this evening or tomorrow, making it a Leo

Kate Middleton's mum Carole reportedly gave away the royal baby's due date by telling friends her first grandchild would be born under the star sign Leo.

But as the Duchess of Cambridge went into labour in the early hours of this morning, the future king or queen's birthday could fall under the zodiac sign of Cancer if it is born today.

If the new prince or princess keeps the world waiting until very late this evening or tomorrow, it will be a Leo.

Astrologers have predicted that Kate and William's baby will have a "very Cancerian personality" even if it is born a Leo.

Astrologer Patrick Arundell said the future king or queen would be more conventional if a Cancerian, but more of a groundbreaker if born tomorrow.

"Either way, he or she is going to be larger than life, charismatic and glamorous but they will have a very Cancerian personality, whether under the sign of Leo or not, and be sensitive and caring," Mr Arundell said.

He added: "If the baby's born today it will have a slightly more conventional and conservative personality, but if it's born tomorrow it will be more groundbreaking and more in tune with modernity."

William, who was born on June 21, is a Cancerian as was his mother Diana, Princess of Wales, whose birthday was July 1.

Other famous names who have the same star sign include former South African president Nelson Mandela, Hollywood actors Harrison Ford, Tom Hanks and Tom Cruise, and Edward VIII, who gave up the throne for American divorcee Wallis Simpson.

Princess Margaret was a Leo, who are considered more gregarious than Cancerians. Other famous Leos include Madonna, US President Barack Obama and the Princess Royal.

Mr Arundell said the baby would also have a lot of "go-get energy" and star quality.

"Mars and Jupiter are conjunct in Cancer and that will give the baby a tremendous amount of go-get energy and that is already in motion," he said.

He added: "Venus and the Sun are also in a magnetic connection which will give the baby a star quality and a sparkling charisma."

Source: http://www.mirror.co.uk/news/uk-news/kate-middleton-goes-labour---2074798

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