Oil prices rebound as Gulf tensions lift market
On the New York Mercantile Exchange February WTI crude rose 1.21 to 16.61 per barrel. Heating oil and unleaded gas also climbed, amid reports of Gulf hostilities, possible OPEC output cuts, and technical trading gains. Analysts cite fresh tensions in the Persian Gulf and an OPEC restraint as factors driving the rally.
MENTIONED IN THIS ARTICLE
New York
New York Mercantile Exchange
West Texas
U.S
Persian Gulf
OPEC
Manama
Bahrain
Iran
Sarak Island
Strait of
Hormuz
Nicosia
Cyprus
Gulf
Middle East
United Arab Emirates
Kuwait
Iraq
Organization of Petroleum Exporting Countries
Donald Morton
Energy Futures
Boston
Prudential Bache Securities, Inc
Rilwanu Luhman
Doomed Ferry and Tanker Collision Kills Many in Philippines
The navy reports 141 bodies recovered after the Dona Paz ferry collided with the oil tanker Victor near Mindoro. Authorities say about 1,630 may be missing, with 26 survivors confirmed from both vessels. a 4 year old boy reported alive was later said not to be from the wreckage.
MENTIONED IN THIS ARTICLE
Manila
Philippines
Navy
Philippine Constabulary
Mindoro
Dona Paz
Victor
Mindoro Island
Pinamalayan
Victor Yap
Philippine Constabulary Today
Associated Press
Yap
Mario Salvadora
Luzon
Batangas
Cherished Christmas Toy Memories From Odessa Figures
The article recalls Christmas joy in snowy Ohio with 6 year old Rick Wells finding a 24 inch American Flyer bicycle. Wells, now a weatherman at KTPX Channel 9, notes the bike’s appeal despite its size. Other Odessa locals like Lorraine Bonner of KOSA Channel 7 remember bride dolls and changing toy trends.
MENTIONED IN THIS ARTICLE
Ohio
Rick Wells
American Flyer
Wells
Ktpx Channel 9
Odessa
Lorraine Bonner
Kosa Channel 7
IRS abandons complex new W-4 forms this year
The IRS announced that no taxpayer will face penalties for underwithholding due to the complex new W-4 forms. Commissioner Lawrence Gibbs cited confusion and aims for smoother tax filing as reasons, noting an $86 million cost to the government. About 98 million Americans will get 1987 federal tax forms by December 26.
MENTIONED IN THIS ARTICLE
Washington
Internal Revenue Service
IRS
Lawrence B. Gibbs
Reagan signs budget bills in Oval Office ceremony
President Reagan signed two tax and spending bills, enacting 23 billion dollars in taxes over two years and billions in cuts to Medicare and farm supports while allowing 600 billion dollars for federal agencies this year. The move aims to place the country on a credible budget path amid stock-market jitters and a record deficit. The measures total 33.3 billion in savings for fiscal 1988 and set a 46 billion target for 1989, signaling a first step toward deficit reduction and potential political battles in 1988.
MENTIONED IN THIS ARTICLE
Washington
Reagan
White House
Oval Office
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West Texas Intermediate
Dear Abby Entertainment
Gibbs
Alan
The
Congress
Debt Service
Republican
Senate Budget Committee
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