US Oil Prices Jump 1.4% to Break 3-Day Losing Streak

U.S. crude futures jumped 1.4% to climb above $97 a barrel Monday, as traders cashed in on bets that the price gap between the world's two crude benchmark would widen, traders and analysts said.

Brent futures, the European benchmark, hit an eight-month high of $118.92 a barrel last Friday, which pushed its spread with the U.S. benchmark of West Texas Intermediate, or WTI, to $23.18, the biggest gap in 11 weeks. WTI moved higher as some investors took profits after betting that spread would widen by wagering Brent futures would rise while WTI fell, says Kyle Cooper, managing partner at the Houston-based consultancy IAF Advisors.

"Last week, the Brent market was hot, and WTI was not," said Tim Evans, analyst at Citi Futures Perspective in New York. "Everything is swinging today back in the other direction."

West Texas Intermediate light, sweet crude for March delivery settled $1.31 higher at $97.03 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange settled 77 cents, or 0.7%, lower, at $118.13 a barrel, pulling back from an eight-month high it hit on Friday. The price gap shrank to $21.10.

The two crude benchmarks have traditionally traded within a few dollars of each other, but Brent has risen sharply against WTI over the last two years because a glut of oil has developed in Cushing, Okla., where the WTI contract is settled. Crude from newly discovered shale formations in Canada and the Midwest has pooled in Cushing, which lacked the sufficient pipelines to carry the oil to the refining complex along the coast of the Gulf Of Mexico.

This has weighed on WTI prices, while Brent is free of such concerns. The price gap hit a high of $27.88 in October 2013. However, the spread shrank to below $16 earlier this year when the capacity of the Seaway pipeline, which carries crude from Cushing to the Gulf, was increased from 150,000 barrels a day to 400,000 barrels a day.

But U.S. oil prices have been declining since Feb. 1 due to problems with the Seaway pipeline, which cut its capacity to the terminal at the end of the pipeline to 175,000. Fears of a growing glut again pushed U.S. prices down--and prompted bets that the spread between Brent and WTI would diverge.

Whether WTI can sustain Monday's rally will depend on oil supply data released by the U.S. Energy Information Administration on Wednesday, traders and analysts said. If weekly crude-oil stockpiles fall more than analysts expect, "that might provide an impetus for prices to move higher," Cooper says.

A stronger euro also supported U.S. oil prices as the weaker dollar makes dollar-denominated crude less expensive for buyers of other currencies. The euro rose against the dollar after Jens Weidmann, European Central Bank member and president of Germany's central bank, said the euro was not seriously overvalued.

Front-month March reformulated gasoline blendstock, or RBOB, settled 3.76 cents, or 1.2%, lower, to $3.0212 a gallon. March heating oil settled 0.7 cent, or 0.2%, lower, to $3.2315 a gallon.

Copyright (c) 2012 Dow Jones & Company, Inc.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Source: http://www.rigzone.com/news/oil_gas/a/124242/US_Oil_Prices_Jump_14_to_Break_3Day_Losing_Streak?rss=true

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The Samsung Galaxy S III 'Ultrafast'

Enjoy the ultimate mobile internet experience with the Samsung Galaxy S III Ultrafast on our Ultrafast network. Now available online at www.three.co.uk and in all Three stores from the 12th February.

Inspired by nature and designed for humans, this beautifully crafted phone has a large 4.8-inch, HD Super AMOLED display which fits more of the content people love on one screen.

It comes in Marble White and Pebble Blue, is loaded with smart features and even knows when you?re looking at it so the screen doesn?t turn off. By vibrating, the Galaxy S III Ultrafast lets you know when you have missed a message or call, and you can call your friends by simply moving the phone towards your ear. A simple voice command is enough to wake the phone from the lock screen... More at Three.

You what? There is now a Samsung Galaxy S III Ultrafast? Actually, it is an S III with a faster modem, but it's also a good way to highlight the speed of a device and network. Still not convinced about badging phones in this way, however, because it likely causes confusion for many.

Source: http://www.lostinmobile.com/home/the-samsung-galaxy-s-iii-ultrafast.html

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Apple, Microsoft, and Adobe forced to face IT pricing inquiry

Apple, Microsoft, and Adobe have been summonsed by the House Committee on Infrastructure and Communications to face the music at the IT pricing inquiry.

The inquiry was launched mid last year to examine why Australians pay more for IT-related goods compared to the rest of the world. So far, all three tech giants have refused to attend any of the parliamentary hearings despite obvious pricing disparities between their product pricing in Australia and, most notably, the US.

"These firms should have cooperated and been prepared to be more open and transparent about their pricing approaches," Labor MP Ed Husic, who is spearheading the inquiry, said in a statement.

"Adobe, Apple, and Microsoft are just a few firms that have continually defied the public's call for answers and refused to appear before the IT pricing enquiry."

Apple, Microsoft, and Adobe are due to appear before the committee on March 22 in Canberra.

"Adobe will cooperate with the Committee as we have done since the inquiry began," an Adobe spokesperson told ZDNet.

Apple and Microsoft have not issued a statement regarding the summons.

Source: http://www.zdnet.com/au/apple-microsoft-and-adobe-forced-to-face-it-pricing-inquiry-7000011103/

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Gun violence victims will attend Obama's speech to Congress

WASHINGTON (Reuters) - President Barack Obama's fellow Democrats in Congress are bringing victims of gun violence to his State of the Union address on Tuesday night, providing faces and voices to the carnage that he wants to curb with new firearms restrictions.

About two dozen victims, including a girl from Newtown, Connecticut - site of the December 14 school massacre that killed 20 children and six adults - will see a divided Congress, uncertain what, if any, new gun laws to pass.

And lawmakers will see victims who agree with Obama that bold action is needed now, including a ban on semi-automatic assault weapons and a limit on high-capacity ammunition clips, like those used in the shooting at Sandy Hook Elementary School in Newtown.

The move is part of a multi-faceted campaign by gun control advocates to apply public pressure on members of Congress to stand up to the gun-rights lobby, despite fears that it could cost some of them reelection.

"They should be worried about doing the right thing, not about getting reelected," said John Aresta, a gun violence victim who was invited by Democratic Representative Carolyn McCarthy of New York to attend Obama's speech.

Aresta, the police chief of Malverne, New York, had a partner with the New York City Police Department shot to death while on duty in 1989, and an uncle killed in a 1993 mass shooting on a commuter train.

McCarthy's husband was killed in the same train attack.

"When people are killed, their names appear in the paper and then they are basically forgotten," Aresta said. "We don't forget them."

With 310 million firearms in the hands of U.S. civilians and more than 11,000 gun-related homicides in 2010, the United States is one of the world's most heavily armed nations and one of the most violent in terms of gun-related deaths.

"Enough is enough. People should have stepped up years ago," said Jim Tyrell of Rhode Island, whose sister was killed in a 2004 armed robbery. Since then, Tyrell has held an annual fundraiser for the study of nonviolence.

Tyrell and others impacted by gun violence will hold a news conference at the Capitol before Obama's speech.

"I understand gun owners have a right to own guns, but who needs to walk around with a semi-automatic?" Tyrell said.

The only gun-related proposal drawing bipartisan support is one requiring background checks for all gun buyers. Critics, including the National Rifle Association, reject tougher steps as violations of the Constitution's right to bear arms.

SHADOW OF NEWTOWN

No Republican has offered to bring a gun violence victim to the speech, said Democratic Representative Jim Langevin of Rhode Island, who helped organize the outreach effort.

"This should be a bipartisan issue," Langevin said. "We should all be concerned about guns in the wrong hands."

The victims will sit in the visitors' gallery of the House of Representatives, overlooking members of Congress as Obama delivers a speech that will spell out his priorities for the coming year, including tougher gun laws.

"It's important to have people there who have touched by gun violence," Langevin said. "They will be able to see members, and members will be able to look at the gallery and know they are there."

Langevin is one of at least a half dozen or so members of Congress who are also gun violence victims. Some lost family members and a few, like Langevin, were nearly killed.

At age 16, he was paralyzed when a bullet accidentally discharged from a police officer's gun and struck him in the neck.

"What happened to me shows that despite what the NRA says, having more guns isn't the answer to keeping our communities and children safe," Langevin said.

Langevin's guest at Obama's speech is Tyrell.

House Democratic Leader Nancy Pelosi invited a fourth-grade student from Newtown after the youngster wrote her. The girl didn't attend Sandy Hook Elementary School, where the shooting occurred but has since become a gun control advocate.

"After the shooting in my town, I started an online petition asking for help from the president and Congress to change the gun laws," the youngster wrote.

"What everyone in Newtown wants is for you to ban semi-automatic weapons and large capacity magazines," she wrote.

Natalie Hammond, a teacher at Sandy Hook Elementary School who was shot in the attack, will also attend Obama's speech as a guest of Democratic Representative Elizabeth Esty of Connecticut, her congresswoman.

Langevin and McCarthy, along with three other House Democrats, urged colleagues to invite victims in the wake of the Newtown massacre and after Obama vowed to make gun control a top priority.

"It is our hope that their presence in the House Gallery will send a strong message that it is long past time to act," the five Democrats wrote.

(Reporting By Thomas Ferraro; Editing by Marilyn W. Thompson and Paul Simao)

Source: http://news.yahoo.com/gun-violence-victims-attend-obamas-speech-congress-182431341.html

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90 Years, 9 Days: 'Superman: The Movie' (1978)

Few movies can be credited with setting the stage for the current state of big-budget film making quiet like Richard Donner's "Superman." The 1978 adaptation of the Man of Steel starred Christopher Reeve in the role that would define his career, and as the first major superhero film in the post-"Jaws" world of blockbuster films, [...]

Source: http://moviesblog.mtv.com/2013/02/11/90-years-9-days-superman-the-movie/

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Philippine president travels to rebel stronghold

MANILA: Philippine President Benigno Aquino III said Monday a final peace agreement with Muslim rebels may be signed next month.

"I think we're very, very close to agreements on all points," he told a news conference at a Muslim rebel stronghold in the country's south, where he traveled to launch projects jointly with the guerrillas aimed at improving life in the area and bolstering the prospects of a peace deal.

Aquino said he did not want to give deadlines to the consensual process but said they believe the comprehensive agreement can be signed "earlier than the end of March."

Hundreds of soldiers, police and Moro Islamic Liberation Front fighters guarded the ceremony in Sultan Kudarat town in Maguindanao province, which has a recent history of major battles between troops and insurgents, who were at times suspected to have been aided by al-Qaida-linked extremists.

Under the new project, Aquino's government is pledging to provide health insurance, assistance in finding jobs and funding for schools for rebel families.

The 11,000-strong Moro rebel group had been waging a rebellion for self-rule in the south. It signed a preliminary peace agreement with the government on Oct. 15 in a major breakthrough toward ending one of Asia's longest-running insurgencies.

The accord grants minority Muslims in the south broad autonomy in exchange for ending more than 40 years of violence that has killed tens of thousands of people and held back progress in the resource-rich but poverty-wracked region. It creates a roadmap for a final peace settlement.

Both sides have ongoing negotiations on the extent of power, revenues and wealth to be granted to the new southern Muslim autonomous region to be called Bangsamoro. The rebels have also agreed to dismantle their armed guerrilla forces, possibly with the help of international experts, under an arrangement both sides are to negotiate.

Source: http://www.dailystar.com.lb/News/International/2013/Feb-11/205968-philippine-president-travels-to-rebel-stronghold.ashx

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Study Says People Prefer Sex & Booze To Parenting | World of ...

This guest article from YourTango was written by Brock Hansen.

In a recent study, participants ranked sex first and alcohol second on a list of things that make them happy.

Meanwhile, childcare came in fifth place, begging the question: Why do people prefer sex and booze to kids?

Of course, there is some bias built into the comparison. We tend to think of child care as a 24/7 activity. I wonder how sex and booze would stack up if they were also a non-stop, no-vacation, activity.

On the other hand, I haven?t met anyone who doesn?t remember the day of their child?s birth or the first time they held their child and felt the amazing little grip of tiny fingers.

And interestingly, this intense bonding releases the same hormone ? oxytocin ? that stimulates pleasure centers in the brain after orgasm.

But childcare isn?t all love and fun. We also tend to worry about our kids. We anticipate problems and we hold onto regrets. As a result, we associate childcare with stress. Some of my clients have reported feeling tremendous guilt about this.

It?s hardly a surprise that sex tops the list of things that satisfy us. We are biologically motivated to love sex. Otherwise, the species would have died out long ago. Those who don?t enjoy sex may have painful experiences (perhaps child abuse, rape or body shame from an earlier trauma) that is so associated with sex that their minds fill with fear, dread or intense shame, and they are not free to experience sex as pleasurable.

The other two activities in the top five are volunteer activities and meditation. Volunteering is something we choose to do, and we do it as much or as little as we choose. People enjoy volunteering because it makes them feel good often enough and reliably enough to continue choosing to do it.

Meditation is a skill that helps us set aside fear about the future and regret about the past. It helps us focus on the present. Experienced meditators have less trouble with physical pain because they don?t spend as much time anticipating future pain or reliving past pain. They don?t wish away the present for some desired, possible future.

What if we applied a mindfulness meditation philosophy to childcare, reminding ourselves that in each moment with our children ? and actually, every moment in our lives ? we have a choice? We can choose to be present with our kids or we can choose to worry, complain, dream of happier days or dwell on regrets of the past.

Our brains are designed to heed pain and danger. So, worrying and regret is natural. But meditators have learned to minimize excessive attention to worry and regret. Chances are, even if your child is being a pill at the moment, that pill will be easier to take if you don?t package it with past and future pills. And the loving moments won?t have to compete so much with the loud static of worry, frustration and regret to get our attention.

Now, I?m not suggesting that we never worry or plan. Still, if we spent more time in the present with our children and less time worrying about them and about life in general, more of that warm glow of oxytocin could kick in and change how we feel about parenting.

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More family advice from YourTango:

Couple in bed photo available from Shutterstock

Contributed by YourTango.com, an online magazine dedicated to love, life and relationships. From dating to marriage, parenting to empty-nest, relationship challenges to relationship success, YourTango is at the center of the conversations that are closest to our over 3 million readers' hearts. With daily contributions from our Experts, we have a little something for everyone looking to create healthier lives. We're excited to offer our contributions to the PsychCentral community, and invite you to visit us on YourTango.com.

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????Last reviewed: By John M. Grohol, Psy.D. on 9 Feb 2013
????Published on PsychCentral.com. All rights reserved.

APA Reference
Experts, Y. (2013). Study: People Prefer Sex & Alcohol Over Parenting. Psych Central. Retrieved on February 10, 2013, from http://psychcentral.com/blog/archives/2013/02/09/study-people-prefer-sex-alcohol-over-parenting/

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Source: http://psychcentral.com/blog/archives/2013/02/09/study-people-prefer-sex-alcohol-over-parenting/

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