Oil scales 11-month high as Saudi vows output cut

Trump Supporters Successfully Storm Capitol, Temporarily Shut Down Democracy

Capitol Hill is in chaos.

Hours after President Trump encouraged supporters to march to the Capitol to protest the certification of last November’s election results, thousands of them did just that. They were met with resistance from Capitol police upon reaching the building, but not long after 2 p.m. they were able to overwhelm authorities and breach the halls of government. Congress, which was in the process of debating the presidential vote certification, abruptly went into recess and the building was locked down.

Lawmakers are sheltering in place, prevented from exercising the will of the American people by a group of violent extremists — egged on by the violent extremist in the White House. The full extent of the breach and any subsequent violence in the Capitol remain unclear.

The visuals of MAGA-hat-wearing, flag-waving protesters pacing through the halls of the Capitol are surreal, to say the least.

Protesters have taken over the Capitol steps, as well.

This story is developing.

Bomb discovered in grounds of US Capitol after protesters storm building

At least one improvised explosive device has been found on the grounds of the US Capitol, law enforcement have confirmed.

It comes as Donald Trump supports storm the building in an attempt to halt the certification of Joe Biden as the next President of the United States.

One woman is believed to have been shot by law enforcement inside the building.

More to follow.

Video shows tense standoff between Capitol Police and pro-Trump rioters trying to enter the Senate chamber

  • A video shows pro-Trump rioters facing off with Capitol Police outside the Senate chamber.
  • Yelling ensues as an officer brandishes a billy club in an attempt to keep the rioters from advancing farther.
  • Outnumbered, the officer backs off, and the crowd eventually takes over the hall after making their way through the first floor.
  • About the same time, an armed standoff was taking place by the door of the House chamber, where officers had guns drawn.
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A video posted on Twitter Wednesday shows tense moments before rioters overtake the Senate chamber in the US Capitol.

Amid yelling and screaming, a Capitol Police officer tries to hold a group of pro-Trump rioters back as they make their way through the first floor of the building.

The officer then backs off and picks up a billy club that had been dropped. Outnumbered, the officer tries to tell the group to back off.

Igor Bobic, the HuffPost reporter who posted the video, described it as taking place just before the group managed to enter the Senate chamber.

About the same time, Capitol Police had their guns drawn in another standoff around the main door to the House chamber.

Trump administration mulls adding Alibaba, Tencent to blacklist of Chinese military cos-sources

Slideshow ( 2 images )

WASHINGTON (Reuters) – The Trump administration is considering adding China’s retail giant Alibaba and Tencent to a blacklist of Chinese companies that are allegedly owned or controlled by the Chinese military, two people familiar with the matter said.

Hundreds of Trump Supporters Just Broke Into the U.S. Capitol Building in a Violent, Unprecedented Breach

The U.S. Capitol has descended into chaos. Hundreds of pro-Donald Trump rioters wearing Trump gear stormed the building on Wednesday as Congress held a ceremonial event that affirms President-Elect Joe Biden won the November presidential election against Donald Trump.

A CNN source says there are “several suspicious devices” outside the building right now as law enforcement works to get everything under control. NBC News just reported on air that members of Congress were handed gas masks as a safety precaution. CNN confirmed a woman is in critical condition after being shot in the chest.

Vice President Mike Pence has been evacuated from the building, which is now on lockdown. Social media posts show chaos as the breachers shout “you swore an oath” and “stop the steal,” tear down tarps, and climb over scaffolding.

Live blog: Trump supporters protest as Congress meets to certify election results

Get live updates as Trump supporters protest at the U.S. Capitol as Congress worked to certify presidential election results.

Oil scales 11-month high as Saudi vows output cut

Brent crude price rises almost 1%

Oil prices rose on Wednesday to their highest since February 2020 after Saudi Arabia agreed to reduce output more than expected in a meeting with allied producers, while industry figures showed U.S. crude stock piles were down last week.

Brent crude rose as much as nearly 1% to $54.09 a barrel, the highest since February 26. It was at $53.87 a barrel at 10:36 a.m. after jumping 4.9% on Tuesday.

Saudi Arabia, the world’s biggest oil exporter, agreed on Tuesday to make additional, voluntary oil output cuts of 1 million barrels per day (bpd) in February and March, after a meeting with the Organization of the Petroleum Exporting Countries (OPEC) and other major producers that form the group known as OPEC+.

Reductions agreed to by Saudi Arabia were included in a deal to persuade other producers in the OPEC+ group to hold output steady.

With coronavirus infections spreading rapidly in many parts of the world, producers are trying to support prices as demand takes a hit from new lockdowns.

OPEC member Iran’s seizure of a South Korean tanker in the Gulf on Monday also continued to support prices. Tehran denied it was holding the ship and its crew hostage while pushing for Seoul to release $7 billion of funds frozen under U.S. sanctions.

U.S. crude oil inventories dropped by 1.7 million barrels in the week to January 1 to 491.3 million barrels, American Petroleum Institute’s data showed.