By Barani Krishnan NEW YORK (Reuters) - Oil prices rocketed more than 8 percent higher on Friday, their biggest one-day gain in two and a half years, after data showed U.S. drillers were slamming the brakes on the shale drilling boom. In a rally that may spur speculation that a seven-month price collapse has ended, global benchmark Brent crude shot up to more than $53, its highest in more than three weeks, after Baker Hughes data showed the number of rigs drilling for oil in the United States fell by 94 - or 7 percent - this week. Two weeks of relatively stable oil prices have helped shift sentiment after months of decline, setting the stage for the violent rebound on Friday afternoon. With drillers having idled about 24 percent of their oil drilling rigs since the summer, some traders may be betting that an anticipated slowdown in U.S. oil production is nearer than expected.
DETROIT (AP) — The federal government is considering allowing those of Middle Eastern and North African descent to identify as such on the next 10-year Census, which could give Arab-Americans and other affected groups greater political clout and access to public funding, among other things.
Rap mogul Marion "Suge" Knight was arrested for murder Friday in connection with a hit-and-run that left one man dead and another in the hospital, Los Angeles authorities said. The rapper was held in lieu of $2 million in bail, Sergeant Diane Hecht of the Los Angeles County Sheriff's Office told AFP. Witnesses told the sheriff's department that Knight, co-founder of Death Row Records, first argued with the men, then used a red pick-up truck to strike them, backing into one then running over both. The vehicle was similar to one Knight is known to drive.