As we noted in September (when the price had just dipped below $100 a barrel), after an initial price shock when ISIS seized northern Iraq, the world oil price has since slumped. It now stands at around $60 a barrel. Recall that way back in late 2001, when the US was invading Afghanistan, it stood at a lowly $11. At that time, we predicted an imminent price shock to jump-start the planned industry expansion—both in the Caspian Basin and here at home, overcoming environmental concerns. Boy, were we right. The price of a barrel first broke the $100 mark in 2008, and has frequently crossed it in the years since then, although it never quite hit the much-feared $200-a-barrel. But now the petro-oligarchs are talking like $100 may be the new $200. Saudi Arabia's oil minister Ali al-Naimi last month answered "we may not" when asked if markets would ever lift prices to $100 again. (CNN, Dec. 23) How much of this are we to believe, and what is really behind the slump?

Kurdish forces made further gains against ISIS at Kobani in the final days of 2014, advancing higher on the Mshta Nur hills overlooking the besieged town in northern Syria. The local People's Protection Units (YPG) made advances with the help of Iraqi Peshmerga units, which brought heavy artillery to the fight, and US air-strikes on ISIS positions. US-led forces bombed ISIS positions around Kobani almost every day in December. Kobani has been under siege for over 100 days, but upwards of 70% of the town has now been liberated.  (Al Arabiya, Dec. 31; Rudaw, Dec. 25)

Three were killed in southeastern Turkish town of Cizre Dec. 27 in armed clashes between Islamist militants of the Huda-Par and followers of the Patriotic Revolutionist Youth Movement (YDG-H), an arm of the Kurdistan Workers Party (PKK). The fighting began when Huda-Par adherants attacked homes and encampments of the YDG-H followers. Security forces mobilized tanks, but were barred from reaching the conflict zone by defensive ditches dug by YDG-H members beforehand. In the early 1990s, conflict between the PKK and Huda-Par (also known as Turkish Hezbollah) claimed hundreds of lives. Cizre lies on the Syrian border. (Al Arabiya News, Reuters, Zaman, Dec. 27)

Reports from Syria say at least 45 were killed and up to 175 wounded in government air-raids on rebel-controlled areas of Bab and Qabaseen outisde Aleppo Dec. 26, with the regime again using deadly "barrel bombs"—steel drums full of shrapnel and explosives. Syrian state media said it repulsed "terror attacks," hitting jiihadists—but giving no details of civilian casualties. Government forces also intensified their attack on opposition-controlled areas of Damascus, carrying out more than 85 air-strikes on several points in the Ghouta suburb over the last four days. (ANA Press, Dec. 27; Euronews, Dec. 26)

US ground forces fought their first direct battle against ISIS militants, Iraq's Shafaq news agency reported Dec. 16. The battle came when ISIS forces launched an attack on Ain al-Assad base, 90 kilometers from Ramadi, capital of Anbar governorate. Sheikh Mahmud Nimrawi, a local tribal leader, said that "US forces intervened because...ISIS started to come near the base." He added that he welcomed the US intervention, saying he hoped it will "not be the last." The US troops seem to have been backing up a mixed force of Iraqi government soliders and local tribal fighters. Nimrawi said that the "US promised to provide tribal fighters who are in that region...with weapons." (Shafaq News, Dec. 16)

As readers are doubtless aware, an unknown militant is currently holding a number of hostages at a Lindt Chocolat Cafe in downtown Sydney, and forcing them to display a jihadist flag in the store's window. There is much online controversy about exactly which faction's flag it is. The Sydney Morning Herald identifies it as the banner of Hizb ut-Tahrir, and contrasts it with those flown by ISIS and the Qaeda-affiliated Nusra Front. The report says Somalia's Shabab is also now flying the ISIS flag, which may mark another affiliate for the "Islamic State"—which would make four by our count. We have noted that protesters are on trial in Lebanon for having burned the ISIS flag, ostensibly because it includes the Arabic text of the Shahada or declaration of Muslim faith. These are all variations on the "Tawhid flag" that has been adopted by Islamists throughout the Middle East and North Africa. Given the franchise model of the jihadist networks, it really doesn't make that much difference which faction the Sydney militant is associated with, or if he is just a freelancer.

Syrian rebels announced formation of a new Revolutionary Command Council at a meeting in Gaziantep, Turkey. The RCC claims to represent over 70 rebel militias. It includes both the Free Syrian Army and the Islamic Front, as well as more Salafist formations such as Ahrar al-Sham. It excludes the Qaeda-affiliated Nusra Front. The RCC charter repeatedly uses the terms "the Syrian people," "civilian," and "revolution"—anathema to the Qaedist ideology of Nusra Front and ISIS. Each RCC affiliate is pledged to contribute at least 100 fighters to a proposed rapid intervention force. The RCC's elected head, Qais al-Sheikh, last week resigned from the Syrian National Coalition in protest of its poor performance. (Al Bawaba, Dec. 1) 

The Simon Wiesenthal Center says it has evidence that Alois Brunner, the world's most-wanted Nazi fugitive, died a free man in Syria four years ago, protected by the regime. Brunner, right-hand man to Adolf Eichmann, was responsible for the deportation of over 120,000 Jews to death camps. The Wiesenthal Center said that Brunner lived in Damascus for decades under the pseudonym Georg Fischer. The Syrian government under Hafez Assad refused repeated requests to extradite him. The Center found that Brunner worked as a security adviser to Rifaat al-Assad—Hafez Assad's brother and uncle of the ruling Bashar Assad. In this capacity he schooled the Syrian regime in interrogation and torture techniques.