Monday, August 31, 2015

Markets: Buckle up! Oil roller coaster still running

My thought is that Oil is likely going to be all over the place for awhile just like world stock markets. One reason would be: "As drillers and shale miners go out of business for whatever the reason (low oil prices) it will spike up prices. But, as countries produce more oil in order to keep in business prices will go down. So, like the article says, "Buckle up!" Because prices could go anywhere for a month or two or more the way this presently looks. Also, investors who might be backing oil drillers or shale miners might have been spooked by a 2000 point drop over the last month or so in the U.S. markets. So, this might be causing chain reactions up and down the line. And because of this oil likely will be all over the place.

MarketsBuckle up! Oil roller coaster still running

19 hours ago

The oil roller coaster continues.
After Brent crude surged more than 15 per cent over Thursday and Friday to close above $50 a barrel, in what most traders viewed as a short covering rally ahead of the long UK weekend, the international oil benchmark is dipping once again, writes deputy commodities editor David Sheppard.
By 10:20am London time on Monday, Brent was down 2.7 per cent to $48.69 a barrel while US benchmark, West Texas Intermediate fell 2.3 per cent to $44.18.
Traders said the oil market remains well supplied, while concerns remain about the health of China's economy after another volatile day on Shanghai bourses.
Analysts at Citi said that with near record Saudi Arabian and Iraqi production contributing to an almost 2m barrel a day oversupply in the market, they remained cautious on the outlook for crude.
The outlook for Saudi Arabia's official selling prices could be key, Citi said, with traders looking for indications whether the world's largest exporter rolls back supply after ramping up over the summer to meet domestic air conditioning demand. The latest figures, due early next month are "a critical measuring stick," Citi said, adding:

If the Kingdom does not discount their crude it could be a strong indication of their walking back some of their new policy regime (to maintain market share).

The one certainty right now appears to be volatility. The so-called fear index, the Oil Vix, spiked to a 5-month high last week.

end quote from:

Buckle up! Oil roller coaster still running -...

www.ft.com/fastft/384421Cached

The oil roller coaster continues. After Brent crude surged more than 15 per cent over Thursday and Friday to close above $50 a barrel, in what most traders viewed as ...

Russian parliamentarian calls US ban from conference illegal

Sputnik International

Russian parliamentarian calls US ban from conference illegal

seattlepi.com

- ‎32 minutes ago‎

UNITED NATIONS (AP) - The speaker of Russia's upper house of Parliament denounced U.S. sanctions banning her from attending a world conference as illegal and took aim at America's global status, telling lawmakers by video link that the days of U.S.

Russian parliamentarian calls US ban from conference illegal

Edith M. Lederer, Associated Press

Updated 6:06 pm, Monday, August 31, 2015

UNITED NATIONS (AP) — The speaker of Russia's upper house of Parliament denounced U.S. sanctions banning her from attending a world conference as illegal and took aim at America's global status, telling lawmakers by video link that the days of U.S. superpower domination are over.
Valentina Matvienko, who leads the Federation Council, also blamed today's refugee and migrant crisis in Europe and the emergence of the Islamic State extremist group on "the irresponsible policy of a number of Western countries and their allies."
She is one of seven Russian government officials targeted by U.S. sanctions, including a travel ban, as a result of President Vladimir Putin's annexation of Crimea from Ukraine. The sanctions do not bar officials from U.N. events, but the Fourth World Conference of Speakers of Parliament is organized by the Inter-Parliamentary Union, which only has observer status at the United Nations.
Matvienko told fellow parliament speakers from over 120 countries that she deeply regretted not being able to attend.
The U.S. offered her a visa to go to the United Nations, but barred her from attending the parliamentarians' conference. She said the U.S. actions were not only illegal but "gross violations of the norms of international law and the principles of democracy and freedom of speech."
"Sanctions against parliamentarians elected by the citizens of their country because of their political views — and this in the 21st century — is nothing other than political persecution," she said.
Matvienko said the three-day conference is taking place at a time when there is a shift to "a multipolar world order," accompanied by "drastic crises and bloody conflicts, counter-revolutions and coup d'etats with horrendous humanitarian catastrophes."
"The old model of a unipolar world order based on the domination by one power or a group of countries has been confined to the past," she said.
But the U.S. and Western countries are making every effort to try to preserve it by openly pressuring other countries, "subjecting them to unilateral sanctions and using armed force against them."
"As a result, terrorism and political extremism are raising their heads, entire regions are being plunged into chaos, holy sites are being destroyed, (and) women, old men and children are being killed," Matvienko said.
"Nevertheless," she said, "a new model of the world is confidently making its way forward."
IPU President Saber Chowdhury expressed disappointment that Matvienko had been barred from attending the conference, saying the organization strongly believes in dialogue "which regardless of differences is fundamental to democracy and international cooperation."
U.S. State Department spokesman John Kirby wouldn't discuss the case Wednesday except to note that Matvienko remains under U.S. sanctions.
The conference, which takes place every five years, is focusing on implementation of new U.N. development goals to be adopted at a summit of world leaders in late September to combat poverty and tackle climate change.
IPU spokeswoman Jemini Pandya said all parliament speakers were invited to the conference, but both John Boehner, speaker of the U.S. House of Representatives, and Mitch McConnell, majority leader of the U.S. Senate, said they were unable to attend.
end quote from:

Russian parliamentarian calls US ban from conference illegal

Libya loyalists, ISIS battle in Benghazi

News24

- ‎7 hours ago‎

Benghazi - Libyan pro-government forces on Monday battled jihadists from the Islamic State group (ISIS) in second city Benghazi, where five pro-government fighters have been killed in two days of violence, media said.

Libya loyalists, ISIS battle in Benghazi

2015-08-31 19:04

Smoke billows from buildings during clashes between Libyan security forces and armed Islamist groups in the eastern coastal city of Benghazi. (Abdullah Doma, AFP)

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Libya loyalists, ISIS battle in Benghazi

Migrant crisis: Seven dead after boat sinks near Libya

In Depth:Migrant crisis: Seven dead after boat sinks near LibyaIrish Times

Migrant crisis: Seven dead after boat sinks near Libya

Hungary’s steel fence fails to deter migrants as EU ministers call for urgent meeting

Migrants jump through the border fence from Serbia into Hungary. Critics see the fence as a costly publicity stunt. Photograph: Matt Cardy/Getty Images

Daniel McLaughlin in Szeged, Hungary

Sun, Aug 30, 2015, 18:16

First published: Sun, Aug 30, 2015, 16:59

Seven people died when a boat carrying migrants sank off Libya’s coast on Sunday, the second such fatal accident at sea within days, while European leaders struggled to find a coherent policy on the refugee crisis.

The Italian coastguard said that some 1,600 migrants had been rescued in the Mediterranean and brought to Italy over the weekend, showing the influx of people, mostly from Africa and the Middle East, remained strong.

At least 2,500 migrants have died making the journey since January, most of them drowning in the Mediterranean.

“We had reports this morning that there are seven bodies of illegal migrants that sank off Khoms . . . but we don’t have any details of how many migrants were on board,“ said Mohamad al-Misrati, a spokesman for the Red Crescent in Tripoli.

On Thursday, another vessel sank off the coast of the Libyan town of Zuwara, killing up to 200 people.

In Italy, which has been at the forefront of the crisis, prime minister Matteo Renzi said the rising death toll would push EU states to confront the problem.

Hungary fence Migrants are continuing to cross at will into Hungary despite the completion of a razor wire fence along its border with Serbia and safety fears that soared following the death of 71 people trapped inside a truck, apparently driven by traffickers.

Hungary’s army finished laying razor wire along the 175km frontier on Saturday, hours after three Bulgarian men and an Afghan pleaded not guilty to charges of people smuggling in connection with the truck deaths.

Hungarian police arrested a fourth Bulgarian on Sunday, as experts tried to establish the identities of the 59 men, eight women and four children found on Thursday in a truck parked on a motorway in Austria, close to its border with Hungary.

Over the weekend, three severely dehydrated children were rescued from a truck of migrants being driven through Austria by a Romanian man.

The children have since been taken from hospital by their parents to continue the journey to Germany.

Hungarian police also stopped several vehicles suspected of involvement in people smuggling and detained drivers from Hungary, Romania, Austria, Serbia, Lithuania and Poland.

People traffickers in the region are making huge profits from hundreds of thousands of people now seeking refuge in the EU from war, persecution and unremitting poverty in parts of the Middle East, Africa and south Asia.

Balkan route

Migrants, and volunteers who give them basic aid, said on Sunday that the fence and safety fears had no effect on numbers now following the “Balkan route” to western Europe – through Turkey, Greece, Macedonia, Serbia and Hungary.

“No problem, no problem,” said Ruben, a Bangladeshi, at Budapest’s Nyugati train station, when asked how he had crossed the fence into Hungary.

“Now we go on. We don’t know how, but we will do it.”

Many migrants in Hungary pay people smugglers because they are afraid to catch international buses and trains, fearing they will be removed and registered by police and sent back to the EU state in which they first arrived.

Critics demand the annulment of this rule, part of the so-called Dublin regulation; they also want migrants to be allowed to use public transport, and they see Hungarian premier Victor Orban’s border fence as a costly publicity stunt.

“It’s ridiculous,” said Mark Kekesi, a psychology professor who works with the Migrant Solidarity group in Szeged, 15km from the Serbian border.

“Anyone can crawl under or over the fence in a couple of minutes. It is very expensive and will never stop anything. But this is a political statement - Orban wants to project the idea that he is protecting Hungary and Europe from ‘invaders’.”

On several days last week, between 2,000 and 3,500 migrants entered Hungary despite the fence being nearly complete - ramping up pressure on border and police forces, and on Mr Orban from vocal far-right groups that demand tougher action.

“Migrant numbers are not dropping at all and it’s making Orban look ridiculous,” said Mr Kekesi, at Migrant Solidarity’s help point in Szeged.

An additional steel border fence is now being erected, and more than 2,100 police officers and cadets will form fast-reaction “hunting” units, equipped with four-wheel-drives, helicopters and dogs, to respond to incidents.

Hungary’s parliament is expected to debate the deployment of soldiers to the border.

Common values

French foreign minister Laurent Fabius said on Sunday that eastern European states in particular were showing a “scandalous” attitude towards asylum-seekers.

“They are extremely harsh. Hungary is part of Europe, which has values and we do not respect those values by putting up fences,” he said.

“Hungary is not respecting Europe’s common values so the European authorities need to have a serious discussion, even a stern discussion with its officials.”

Britain’s home secretary, Theresa May, meanwhile, said the failings of a “broken European migration system” were exacerbated by passport-free travel through much of the bloc - a system that does not include Britain and Ireland.

Germany, France and Britain yesterday made a joint call for an urgent meeting of EU interior and justice ministers in the next two weeks to take “immediate action” and agree on “concrete steps”.

In Szeged, Mr Kekesi said police numbers had already “dramatically increased” in the border region, but showed no sign of deterring the migrants.

“I met a Syrian engineer last week, about 60-years-old, well-educated, and he told me: ‘At home I would be dead already, so I have nothing to lose’,” Mr Kekesi recalled.

“No fence will stop people who feel that way.”

Additional reporting: Reuters and Guardian

end quote from:

In Depth:Migrant crisis: Seven dead after boat sinks near LibyaIrish Times

Additional reporting: Reuters and Guardian

In Depth:Migrant crisis: Seven dead after boat sinks near LibyaIrish Times

Greece Rescues 2500 Migrants At Sea In Past 3 Days

Huffington Post

- ‎6 hours ago‎

ATHENS, Greece (AP) - Greece's coast guard picked up nearly 2,500 migrants from the sea in dozens of search and rescue operations, part of a relentless flow of people seeking the safety of Europe after facing war and poverty in the Middle East, Africa ...

See realtime coverage »

Greece Rescues 2,500 Migrants At Sea In Past 3 Days

Refugees and migrants are seeking safety from war and a better life.

Posted: 08/31/2015 08:31 AM EDT | Edited: 08/31/2015 03:41 PM EDT

ATHENS, Greece (AP) — Greece's coast guard picked up nearly 2,500 migrants from the sea in dozens of search and rescue operations, part of a relentless flow of people seeking the safety of Europe after facing war and poverty in the Middle East, Africa and Asia.
The coast guard said Monday it had rescued 2,492 people in 70 operations off the eastern islands of Lesbos, Chios, Samos, Agathonissi, Farmakonissi, Kos and Symi from Friday morning until Monday morning.
The coast guard also rescued another 13 people in the water near Chios. One person was unconscious and hospitalized.
Greece has been overwhelmed by record numbers of migrants this year, the vast majority from Syria and Afghanistan, reaching its eastern Aegean islands from the nearby Turkish coast. More than 200,000 have arrived. Nearly all head to Greece's northern border with Macedonia, cross into Serbia and Hungary and go toward more prosperous European countries.

On Monday, Greek police fired one stun grenade to prevent a stampede and keep back a crowd who attempted to rush the border after Macedonian authorities briefly stopped the flow of those allowed to cross. The situation calmed a short while later and crossings resumed.
On the islands, authorities have struggled to cope with the sheer numbers of migrants. A government-chartered ferry on Monday brought 2,500 migrants to Piraeus, the main port near Athens, from Kos and Lesbos.
"It's very bad in Mytilene," the main town on Lesbos, Mohamad, a Syrian Kurd who would only give his first name, said as he disembarked. "I stay five days in (the) street. No food, no anything."
Another Syrian, Basar, who would also only give his first name, said the situation wasn't that dire but many people from other countries were claiming to be Syrian to take advantage of the refugee status Syrians automatically receive.
end quote from:

Greece Rescues 2500 Migrants At Sea In Past 3 Days

Why would Russian fighter Jets be in or near Damascus?

Likely the sea Port Assad Gave to Russia which is only one of two warm water ports that don't freeze over in the winter that Russia has. The other port is in Crimea. So, in the end their port in Syria would be more important to them than keeping Assad in power. So, keeping Assad in power is a means to an end.

Also, Russia is as upset at ISIS as the rest of the world is also, especially because many of the Generals and officers of ISIS are Chechen fighters they fought in Chechnya.

Another reason they would be in or near Damascus is Europe, the U.S. and Russia agree on one thing. None of them want ISIS to rule Assad's Syria because it would not only be a bloodbath of Shiites, especially the Alawite Shiites, it would also destabilize countries like Lebanon, Jordan and Turkey which would make life more difficult for millions. So, it is likely by agreement for Russian jet fighters to be there now. However, if it were out in the open many in the Middle East would be upset about this. But, the fact that the U.S. and Europe are silent about this says a lot too. But, for most or all governments in the Middle east there is no desire from likely ANY Middle Eastern Government for ISIS to rule Assad's Syria.

Fierce Fighting in N. Syria as Turkey Launches Air Raids

Voice of America

- ‎4 hours ago‎

ISTANBUL—. Islamic State militants are maintaining their offensive on towns at the heart of a safe zone that US and Turkish authorities want to carve out in northern Syria - despite Turkish fighter jets recently launching their first air strikes as ...

Fierce Fighting in N. Syria as Turkey Launches Air Raids

FILE - Syrian internally displaced children jump on the back of a truck at the Atme refugee camp, along the Turkish border in the northwestern Syrian province of Idlib.

Jamie Dettmer

August 31, 2015 3:03 PM

ISTANBUL— Islamic State militants are maintaining their offensive on towns at the heart of a safe zone that U.S. and Turkish authorities want to carve out in northern Syria — despite Turkish fighter jets recently launching their first airstrikes as part of the American-led coalition against the jihadist terror army.
Rebel commanders say coalition strikes need to be ramped up to ward off the extremists.

The fight for the countryside to the north of Aleppo is now ratcheting up rapidly. Islamist rebel factions on Monday mounted several rocket barrages at IS positions in the villages of al-Madjanah and Tlalin. They managed to retake the town of Sadaf after heavy clashes with the extremists.

“Our fighters attacked IS headquarters in Sadaf town,” said Saleh al-Zeina rebel commander. “The militants were forced to evacuate the town. The town is now completely under our control.” How long that will be the case isn’t clear: the fighting in northern Syria has been marked in recent weeks by rapid changes in fortunes.

Islamic militants displayed the bodies of some of the fighters from moderate rebel and Islamist factions they had killed in a square in the city of al-Bab to the northeast of Aleppo. A commander with the Shamiya Front, coalition of hardline Islamist brigades as well as more moderate rebel factions favored by the West, says the Islamic State is still focused on trying to capture the key town of Marea, which they first tried in June.

In the past few days, the militants have launched as many as 50 suicide bombing missions on the town. There were three suicide bombings in Marea Monday, according to political activists.
Redoubled efforts

FILE - People walk amid the wreckage of damaged buildings in a street hit by shelling in Aleppo, Syria, Apr. 11, 2015.

IS first launched a concerted effort to dominate the countryside to the north of Aleppo in early summer and came close to seizing the border town of Azaz in a bid to sever the rebels’ supply lines from Turkey. Only a desperate intervention by Islamist militias from a neighboring province prevented that from happening. The extremists’ redoubled their offensive since Washington and Ankara agreed to establish a safe zone in the Aleppo countryside — but disagreements between the two governments has delayed coalition action.

The fighting to the north of Aleppo illustrates how complex and tangled the Syrian civil war has become featuring a dizzying area of rebel factions, some approved of by the West while others are favored by Turkey and the Gulf countries, and two rival jihadist organizations — not to mention the Kurds and Syrian government forces. While coalition airstrikes are targeting IS extremists; regime warplanes have been pounding villages controlled by rebel factions and, according to insurgent commanders, chiefly those are that are important for their supply lines into Aleppo.

Syrian government forces have been mounting attacks on insurgent positions in the northern part of Aleppo city, according to a commanders with the rebel Military Operations Room in the beleaguered city, which is divided between the regime and rebels battling to oust President Bashar al-Assad.
Aleppo countryside
Marea is a key to much of the conflict in the northern Aleppo countryside — control of the town, which is only 35 kilometers from Aleppo and 10 kilometers from the main border crossing at Bab as-Salamah into Turkey, impacts crucial supply lines. Anyone who controls Marea is more easily able to strike at the Kurdish enclave of Afrin on the border.

Smoke rises after what activists said were clashes with Islamic State fighters in Soran Azaz, Aleppo, Syria. June 1, 2015.

Also over the weekend the Shamiya Front issued a statement declaring the whole of the border town of Azaz a military zone because of the precariousness of the military situation.
Rebel commanders say coalition airstrikes — despite the fact the U.S. has increased strikes in the Aleppo countryside — are not sufficient to drive IS forces out.

Some analysts agree with that view.
“While the coalition and Turkey squabbled among themselves, Marea was burning under the siege of the Islamic State,” according to Aymenn Jawad Al-Tamimi an analyst at the US-based think tank Middle East Forum.

U.S. and Turkish officials have acknowledged differences over the tactics to be followed in the carving out a northern safe zone. But they say the recent air raids featuring the first joint coalition airstrikes by Turkish warplanes is a sign of agreement now.
“Our fighter aircraft, along with coalition fighter jets, began carrying out joint air operations,” the Turkish foreign ministry announced on Saturday.

“Countering terrorist organizations is a national security issue of priority for Turkey. Our efforts to combat terrorism will continue resolutely,” the ministry added.

The air raids mounted by Turkish warplanes involved seven targets in Aleppo. The Turkish F-16 fighter jets that carried out the missions flew from the NATO’s İncirlik Air Base in southern Turkey. Turkey's state-run Anadolu news agency reported that coalition warplanes have also bombed the IS-held town of Manbij in Aleppo province.
In Washington, Pentagon Press Secretary Peter Cook said the Turkish airstrikes were "fully integrated" into the coalition campaign.
end quote from:

Fierce Fighting in N. Syria as Turkey Launches Air Raids

Russian jets in Syrian skies?

Russian jets in Syrian skies

Ynetnews

- ‎11 hours ago‎

According to Western diplomats, a Russian expeditionary force has already arrived in Syria and set up camp in an Assad-controlled airbase.

Live Updating:Man and young boy in Syria pulled alive from the rubble after a barrel bomb attackDaily Mail

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Alex Fishman

Russian Air Force Mig 31 (Photo: Reuters)

A formation of Russian Mig 31's (Photo: Reuters)

Russian Air force air craft (Photo: Reuters)

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Russian jets in Syrian skies

Russia has begun its military intervention in Syria, deploying an aerial contingent to a permanent Syrian base, in order to launch attacks against ISIS and Islamist rebels; US stays silent.

Alex Fishman

Published:

08.31.15, 15:34 / Israel News

Russian fighter pilots are expected to begin arriving in Syria in the coming days, and will fly their Russian air force fighter jets and attack helicopters against ISIS and rebel-aligned targets within the failing state.

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According to Western diplomats, a Russian expeditionary force has already arrived in Syria and set up camp in an Assad-controlled airbase. The base is said to be in area surrounding Damascus, and will serve, for all intents and purposes, as a Russian forward operating base.

In the coming weeks thousands of Russian military personnel are set to touch down in Syria, including advisors, instructors, logistics personnel, technical personnel, members of the aerial protection division, and the pilots who will operate the aircraft.

A formation of Russian Mig 31's (Photo: Reuters)

Past reports have stated that the Russians were in talks to sell the Syrians a package of MiG-29 fighter jets, and Yak-130 trainer jets (which can also serve as attack aircraft.) The current makeup of the expeditionary force is still unknown, but there is no doubt that Russian pilots flying combat missions in Syrian skies will definitely change the existing dynamics in the Middle East.

The Russians do not harbor offensive intentions towards Israel or other sovereign states in the area, and their main stated goal is battling ISIS and preserving Assad's rule. However, their presence will represent a challenge to the Israeli Air Force's freedom of operation in the skies above the Middle East.

Western diplomatic sources recently reported that a series of negotiations had been held between the Russians and the Iranians, mainly focusing on ISIS and the threat it poses to the Assad regime. The infamous Iranian Quds Force commander Major General Qasem Soleimani recently visited Moscow in the framework of these talks. As a result the Russians and the Iranians reached a strategic decision: Make any effort necessary to preserve Assad's seat of power, so that Syria may act as a barrier, and prevent the spread of ISIS and Islamist backed militias into the former Soviet Islamic republics.

Russian Air force air craft (Photo: Reuters)

The Russians are not the only ones coordinating their Middle East policy with the Iranians; The US has also jumped aboard that train. American government officials have been holding intensive consultations with representatives of the Iranian regime concerning a stronger joint effort against ISIS in Iraq. It seems that the US government currently views Iran as a central and necessary force in the campaign against ISIS within Iraq.

The Iranian-American cooperation is focused on two focal points: The first being Anbar province, where the Iraqis have thus far failed to expel ISIS; and the second Mosul, where the Iraqis have yet to come up with a feasible plan to recapture the city.

Western diplomatic sources have emphasized that the Obama administration is fully aware of the Russian intent to intervene directly in Syria, but has yet to issue any reaction. The absence of a vocal opposition from the Obama administration is compounded by its cessation of calls for the dissolution of Assad's murderous regime.

This and more: The Iranians and the Russians- with the US well aware- have begun the struggle to reequip the Syrian army, which has been left in tatters by the civil war. They intend not only to train Assad's army, but to also equip it. During the entire duration of the civil war, the Russians have consistently sent a weapons supply ship to the Russian held port of Tartus in Syria on a weekly basis. The ships would bring missiles, replacement parts, and different types of ammunition for the Syrian army.

A Russian Air Force Mig 31 (Photo: Reuters)

Arab media outlets have recently published reports that Syria and Russia were looking for an additional port on the Syrian coast, which will serve the Russians in their mission to hasten the pace of the Syrian rearmament.
In the meantime, Assad's army is in full scale retreat in the strategic province of Idlib. Mere days ago, a force from the Jaesh Al Fatah (A coalition or rebel groups including Jabhat al-Nusra) advanced on the Abu Duhur military airfield in southwestern Syria's Iblib province, which borders on Latika. Alwaite and Christian residents of the area have fled to the last remaining Alawite Bantustans along the country's coastline.
Even Turkey, which has so far avoided any action which would strengthen Assad, has had to come to terms with the Russian-Iranian move and the resulting American silence, leading it to launch its own bombing campaign against ISIS in Syria.

During a recent trip to Qatar, Erdogan reached understandings with the Qataris and the Saudis regarding a program to arm Muslim Brotherhood backed rebels who are fighting against ISIS, de-facto fighting both Assad and ISIS. End quote from:

Intuitive fred888

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Monday, August 31, 2015