Oil Futures Settle Notably Lower

Man killed near Argo Park in Denver’s Globeville neighborhood

Denver police say a man was killed Friday morning near Argo Park in Denver’s Globeville neighborhood.

The man was likely shot, police said.

Authorities are investigating the incident as a homicide. The location is north Denver, near East 48th Avenue and Logan Street, Denver police said on Twitter.

Officials are asking for help gathering information. They have not said if there is a suspect yet.

The man’s name has not been released.

Opinion | Wonking Out: How Global Is Inflation?

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By Paul Krugman

Opinion Columnist

Here’s the Secret to the Best Mashed Potatoes for Thanksgiving

You’ve tried boiling, but Genevieve Ko found a better way to make this side dish fluffier — and more flavorful.

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By Genevieve Ko

Crews battling forestry fire in Leithfield, Canterbury

Dozens of fire fighters have been up all night battling a forestry fire in Canterbury.

Southern fire shift manager Mau Barbara said the fire, on Ashworths Beach Rd in Leithfield, now covered an area of 700m by 200m.

Calls had started coming in around 11.35pm.

There were ten fire appliances at the fire with up to 24 crew members, he said. A helicopter is heading out to join them this morning.

Barbara said there was no indication yet of how the fire started.

A helicopter was heading out this morning.

Five-Star, Honey-Glazed Chicken

Yewande Komolafe graced us with this one-pan recipe. Don’t miss it.

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By Emily Weinstein

This Lemon Pie Captures the Feeling of Home

For years, Yewande Komolafe didn’t feel a connection to the food she was cooking professionally — until she started making Edna Lewis’s recipes.

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By Yewande Komolafe

Gold Futures Settle Higher For 7th Session, Gain Nearly 3% In Week

Gold futures settled higher on Friday, extending gains to a seventh straight session, as concerns about rising inflation prompted investors to go in for the safe haven commodity.

The dollar’s weakness, and data showing a drop in U.S. consumer sentiment contributed as well to gold’s uptick. The dollar index, which rose to 95.27 earlier in the day, dropped to a low of 95.00 before recovering some ground.

Gold futures for December ended higher by $4.60 or about 0.3% at $1,868.50 an ounce. Gold futures gained about 2.9% in the week, gaining for a second straight week.

Silver futures for December ended up by $0.045 at $25.346 an ounce, while Copper futures for December settled at $4.4495 per pound, gaining $0.0500 for the session.

Data released by the Labor Department earlier in the week showed consumer prices in the U.S. rose at their fastest annual rate in over thirty years in October, raising speculation that the central bank might start hiking rates sooner than earlier thought.

A report released by the University of Michigan today showed an unexpected deterioration in U.S. consumer sentiment in the month of November.

The preliminary report said the consumer sentiment index slid to 66.8 in November from a final reading of 71.7 in October. The decrease surprised economists, who had expected the index to inch up to 72.4.

With the unexpected drop, the consumer sentiment index fell to its lowest level since hitting 63.7 in November of 2011.

Oil Futures Settle Notably Lower

Despite rebounding strongly and briefly moving above the flat line, crude oil futures tumbled and settled sharply lower on Friday, weighed down by a firm dollar and a downward revision in global oil demand forecast by the OPEC.

The dollar has been firming against other currencies amid increasing prospects of the Federal Reserve hiking rates sometime next year to rein in rising inflation.

Traders also weighed a likely release of oil from the Strategic Petroleum Reserve. U.S. President Joe Biden is reportedly weighing moves to release oil from SPR to cool energy prices.

West Texas Intermediate Crude oil futures for December ended down by $0.80 or about 1% at $80.79 a barrel.

Brent crude futures were down $0.71 or 0.85% at $82.16 a little while ago.

A report released by Baker Hughes this afternoon said the oil and gas rig count in the U.S. rose six to 556 in the week to November 12, the highest level since April 2020.

The total rig count has increased by 244 rigs or about 0.78% over this time last year.

While oil rigs were up by 4 to 454 this week, gas rigs rose two to 102, the data showed.