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Crude-oil futures rose about 12% on Friday and are headed for a record weekly gain of over 35% as Iran-related supply fears mount. The Relative Strength Index climbed to 88.94, a 36-year high, signaling an overbought condition; yet history shows such readings have preceded further rallies rather than reversals, suggesting a near-term pullback is possible but the overall rally could continue if momentum remains strong.
U.S. stocks edged up after a choppy session as investors weighed AI-related jitters against ongoing concerns about the economy.
A federal judge in the Western District of Texas halted any removal or transfer of five-year-old Liam Ramos and his father Adrian Conejo Arias for the duration of their asylum proceedings, keeping them in custody within the district while litigation continues. The ruling followed their detention last week after Liam was taken from school in Minnesota, an arrest that drew international scrutiny and protests over immigration enforcement; DHS/ICE described the operation as targeted, while advocates say the family has an active asylum petition. The pair were later moved to the Dilley processing center in Texas as the case proceeds.
A Bulwark analysis argues that MAGA’s push for mass deportation rests on an “omelet” calculus: admit abuses will occur while pushing ahead, citing DHS incidents in Minneapolis, mixed public opinion polls, and civil-liberties concerns about rights and democracy.
The United States says it is moving quickly to grant Chevron an expanded license to produce and export oil in Venezuela, allowing cash payments to the Venezuelan government instead of oil-in-kind and enabling Chevron to sell all oil it produces. The move could expand export capacity and improve pricing, with proceeds held in Qatar in accounts controlled by the U.S. government and a goal to eventually move funds into U.S. banks.