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Published October 13, 2014

TEHRAN, Iran Iran's president is holding out hope that Tehran and world powers may still be able to reach a deal on the country's controversial nuclear program before the Nov. 24 deadline.

Hassan Rouhani says Iran has the "political will" to reach the deal with the six nation group the five permanent members of the U.N. Security Council plus Germany although significant differences remain that require negotiations.

Rouhani spoke on national television late on Monday, in remarks that somewhat contrasted those of senior Iranian nuclear negotiator, Abbas Araghchi, who on Friday said the talks could be extended.

The talks were already extended once earlier this year. They reportedly remain stuck over the size and output of Iran's uranium enrichment program, a possible pathway to nuclear arms.

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Iran's president says nuclear deal with world powers still possible before Nov. 24 deadline

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Iraq will sell its Basrah Light crude to Asia at the biggest discount since January 2009 as it follows Saudi Arabia and Iran in cutting prices amid a slump in Brent futures to the lowest in almost four years.

Brent crude, the European benchmark, fell 2 percent in London today while West Texas Intermediate lost 1.4 percent in New York. Iraq, the second-biggest producer in the Organization of Petroleum Exporting Countries, trimmed the price differentials for supplies to Asia and Europe for November, the countrys State Oil Marketing Co., known as SOMO, said yesterday.

The worlds two most-traded oil futures are collapsing as demand growth slows and output expands in the U.S., Russia and other nations. OPECs biggest producers are responding by cutting prices, sparking speculation they are ready to compete for market share. Iran last week said it will sell oil to Asia in November at the biggest discount in almost six years, matching cuts by Saudi Arabia.

OPEC is still giving no indication that it might take steps to shore up prices, Carsten Fritsch, an analyst at Commerzbank AG in Frankfurt, said in a report. OPEC countries appear to be more interested in defending their market shares at present than stabilizing prices.

Brent for November settlement slid $1.83 to $88.38 a barrel on the London-based ICE Futures Europe exchange as of 11:57 a.m. London time. The contract closed at $90.05 on Oct. 9, the lowest since June 2012. Prices have decreased about 20 percent this year.

WTI for November delivery was at $84.61 a barrel in electronic trading on the New York Mercantile Exchange, down $1.21. The contract settled at $85.77 on Oct. 9, the lowest since December 2012. The U.S. benchmark crude was at a discount of $3.76 to Brent. It closed at $4.39 on Oct. 10.

Prices slumped after OPEC increased oil supply by the most in almost three years last month. While Societe Generale SA estimates the group needs to reduce output by about 1 million barrels a day, analysts were split last week on whether it will announce a cut at its next gathering in November.

Whats happening in the market is good for big Middle-East customers like us, said B. Ashok, the chairman of Indian Oil Corp., the countrys largest state-run refiner that counts Iraq as its biggest supplier. We have to wait and see where prices go in coming months. Usually, they tend to rise a bit in winter.

Venezuela will seek an extraordinary OPEC meeting to address falling prices, the nations foreign ministry said in a Twitter post on Oct. 10. Kuwaiti Oil Minister Ali Al-Omair said many countries considered the groups current output quota to be reasonable and fair and the country hasnt received an invitation to any emergency meeting, state news agency Kuna reported yesterday.

Although it looks like prices have touched their lowest level, theyll fall a bit more before they are hit by an actual move by OPEC, Will Yun, a commodities analyst at Hyundai Futures Co., said by phone in Seoul. Countries cutting their official selling prices is one of the factors thats been driving the prices down in the short term.

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Iraq Follows Saudi Price Cuts as Brent Oil Falls With WTI

BAGHDAD -- Militants of the Islamic State of Iraq and Syria (ISIS) on Monday captured a military training camp in western Iraq, inching closer to full control of the restive Anbar province, as a spate of deadly bombings shook Baghdad, hitting mostly Shiite neighborhoods and leaving at least 30 dead.

The attacks, which came as Iraqi Shiites marked a major holiday for their sect with families crowding the streets in celebration, raised new concerns that the Sunni militant group is making gains despite U.S.-led coalition airstrikes.

British Foreign Secretary Philip Hammond, on a visit to Iraq, warned that the airstrikes will not be enough to defeat the extremist group and stressed that the Iraqi security forces would have to do the "heavy work on the ground."

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Despite U.S. airstrikes and resistance from Iraqi military forces, ISIS terrorists continue to make headway through Iraq's Anbar province. If the...

But Iraqi troops, overstretched and overwhelmed by ISIS' summer blitz that seized large swaths of territory in western and northern Iraq, continued to come under pressure Monday in the western Anbar province, where militants seized an Iraqi military training camp.

The camp, near the town of Hit that fell to the insurgents earlier this month, was overrun in the morning hours after clashes with Iraqi soldiers who were forced to abandon the camp and withdraw from the area, two Anbar officials told The Associated Press, speaking on condition of anonymity because they were not authorized to talk to the media. Town residents confirmed the camp's fall, speaking to the AP also on condition of anonymity, fearing for their own safety.

ISIS touted its conquest of the camp in a statement Monday. The statement could not immediately be verified but it was posted on militant websites commonly used by the group.

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Maj. Mike Lyons (Ret.), CBS News Military Analyst, discusses Turkeys agenda in the fight against Islamic State militants.

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ISIS captures Iraq army camp as bombs hit Baghdad

Attorney General Eric Holder on Wednesday said the unrest after a Missouri police officer fatally shot an unarmed black 18-year-old in August shows law enforcement must directly address tensions within communities.

Holder also called for an expanded review of police techniques and tactics in the wake of the Michael Brown shooting to provide national direction to law enforcement.

Holder and former President Bill Clinton spoke at the start of a two-day meeting of mayors and police chiefs gathered to talk about lessons from the shooting of Brown by white Ferguson police officer Darren Wilson and the protests that followed. Holder told the group what happened in the St. Louis suburb put a national spotlight on the rift between police and citizens in many cities.

The events in Ferguson reminded us that we cannot and we must not allow tensions, which are present in so many neighborhoods across America, to go unresolved, Holder said at the meeting held by the U.S. Conference of Mayors.

He said the Justice Departments broad review of police techniques, tactics and training should be expanded to provide strong, national direction on a scale not seen since President Lyndon Johnsons Commission on Law Enforcement nearly half a century ago.

Holder, who announced his resignation last month, visited Ferguson after the shooting to help ease tensions. The Justice Department is investigating whether Browns civil rights were violated.

When I traveled to Ferguson in the days after that incident, my pledge to the people of that community was that our nations Department of Justice would remain focused on the challenges they faced, and the deep-seated issues and difficult conversations that the shooting brought to the surface, long after national headlines had faded, he said.

The meeting on lessons from Ferguson was held at the Clinton presidential library in Little Rock and marked the 20th anniversary of Clinton establishing the Community Oriented Policing Services program. Clinton and Holder heralded the program, saying it was key to restoring trust between police and citizens.

We know that if we have a situation where the law enforcement community and the government generally is inclusive and represents all elements of the community and (is) connected, were more likely to make good decent decisions and less likely to make big bad mistakes, Clinton said.

Clinton also warned about the impact of departments using surplus military equipment under a program that is now the subject of a White House review. The program began during Clintons administration, but the former president said he didnt know about it.

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Bill Clinton, Eric Holder talk missteps of Ferguson ...