The phenomenon of "floating storage", which has been brought about by a huge over-supply of global tanker capacity and unusual market conditions, is just one example of the multitude of ways in which a small group of private, mostly Swiss-based companies have become adept at turning vast profits from the closed and often murky world of independent oil trading.
The resulting profit can be anything between 15 and 20 per cent – tens of millions of dollars – even after the cost of hiring a tanker is deducted.
The company behind Iceland's fin whaling industry is planning a huge export of whalemeat to Japan.
Sept. 11 conspirator Zacarias Moussaoui's guilty plea was invalid because he was denied potentially helpful evidence and the right to choose his own counsel, his lawyer told a federal appeals court Friday.
Prime Minister Benjamin Netanyahu cheapened the memory of the Holocaust in his speech to the United Nations General Assembly on Thursday. He did so twice. Once, when he brandished proof of the very existence of the Holocaust, as if it needed any, and again when he compared Hamas to the Nazis.
In a story about a group of elementary school kids who sang the praises of President Barack Obama for a Black History Month event, Fox News appears to have removed key information regarding the fallout triggered by intense right-wing media coverage.
The sick men are Marines, or sons of Marines. All 20 of them were based at or lived at Camp Lejeune, the U.S. Marine Corps' training base in North Carolina, between the 1960s and the 1980s.
The Food and Drug Administration admitted Thursday that it mistakenly approved a patch for injured knees last year after being pressured by members of Congress and the manufacturer.
