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While oil futures prices rebound with vigor as analysts cite strong demand, the physical crude market tells a much more cautionary tale. Tens of millions of barrels are struggling to find buyers in Europe with traders of West African, Azeri and North Sea crude blaming poor demand. The deep disconnect between the oil futures and physical markets looks similar to the events of June 2014 when the physical market weakness became a precursor for a futures price crash.
BISMARCK, N.D. (AP) — A train that derailed and caught fire early Wednesday in rural North Dakota was hauling crude from the state's oil patch, raising questions about whether new state standards intended to reduce the volatility of such shipments are sufficient.
New England Patriots star Tom Brady was probably aware of a plot to deflate balls used in a key playoff game, an NFL probe ruled Wednesday, dealing a blow to the image of one of the most prominent athletes in American sport. A National Football League investigation into the "Deflategate" affair found that it was "more probable than not" that Patriots employees had conspired to tamper with the pressure of balls in the team's AFC Championship game against the Indianapolis Colts, which they won 45-7. It was not immediately clear what sanctions the NFL would take following the bombshell findings in the 243-page report, which named kit men John Jastremski and Jim McNally as the suspected architects of the plot.