-- API endorses homeland security cabinet legislation The American Petroleum Institute Wednesday endorsed congressional efforts to create a new Department of Homeland Security, the most extensive reorganization of the federal government since the 1940s.
-- Iran, Norway officials discuss oil cooperation Iran's Deputy Foreign Minister for Euro-American Affairs met with Norway's Petroleum and Energy Minister in Oslo to discuss expanding the existing cooperation between the two countries' oil sectors.
-- DOE says SPR storage is at record level The US Strategic Petroleum Reserve now holds 592 million bbl of oil, the largest volume of crude ever stored since the federal government began the emergency stockpiling measure in 1977.
-- 'Bear trap' looming for misguided oil markets? The events of the first half of November suggest that oil markets and geopolitical realities are on divergent paths.
And the result may be that oil markets are backing into a "bear trap."