Moscow’s Influence In Central Asia Continues To Decline

In the three decades since the collapse of the Soviet Union, the Russian Federation and China have pursued divergent interests in post-Soviet Central Asia, as Moscow seeks to retain its influence even as Beijing’s “soft power” grows, underpinned by its dynamic economy. In a recent sign of the latter, Chinese President Xi Jinping, in his congratulatory Nowruz message on March 21 to Tajikistani President Emomali Rahmon, announced that China was preparing a “grandiose plan” for upgrading relations with Central Asia, stating,…

Read more at: https://oilprice.com/Geopolitics/Asia/Moscows-Influence-In-Central-Asia-Continues-To-Decline.html

Indian Banks Fear Mess If Urals Passes $60 Price Cap

Indian banks fear an end to the country’s major intake of discounted Russian oil in the wake of OPEC+ surprise production cuts, which have helped push Urals crude close to overrunning the G7’s $60 per barrel price cap.  According to The Millennium Post, citing an unnamed refinery executive, both the State Bank of India and Bank of Baroda have informed refiners they will not handle payments for oil bought above the limit.  In the meantime, Indian banks are very closely monitoring crude prices at ports, where costs of logistics…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Indian-Banks-Fear-Mess-If-Urals-Passes-60-Price-Cap.html

Forgotten Equation Could Be Key In Recycling CO2

Cornell University scientists have dusted off an archaic – now 120-year-old – electrochemical equation. The goal is to manage atmospheric carbon dioxide and convert the gas into a useful products. The team’s work has been published in the journal ACS Catalysis. The calculation – named the Cottrell equation for chemist Frederick Gardner Cottrell, who developed it in 1903 – can help today’s researchers understand the several reactions that carbon dioxide can take when electrochemistry is applied and pulsed on a…

Read more at: https://oilprice.com/Energy/Energy-General/Forgotten-Equation-Could-Be-Key-In-Recycling-CO2.html

TotalEnergies Considers $5B Neptune Purchase

TotalEnergies (NYSE: TTE) is looking at a possible takeover of independent Neptune Energy Group Ltd, anonymous sources familiar with the matter told Bloomberg on Thursday. TotalEnergies is said to have conducted early-stage talks with Neptune about a potential takeover, Bloomberg sources revealed. Neptune Energy Group is a gas-weighted company (76%) backed by private equity investor Carlyle Group Inc. and CVC Capital Partners, boasting 552 mmboe in proven and probable (2P) reserves and an average daily production of 135,000 boepd. Neptune has assets…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/TotalEnergies-Considers-5B-Neptune-Purchase.html

Shifting Trade Flows Create Logistical Problems In Central Asia

When the flow of Western goods to Russia was choked in the wake of the Ukraine invasion, attention turned to Central Asia. In part by funneling goods through Kazakhstan and Kyrgyzstan, Russia managed to bring in $20 billion worth of goods between March and December 2022, Kommersant business daily reported on April 10. Other countries relied upon for this parallel import strategy include Armenia, Belarus, Georgia, and Uzbekistan. Industry insiders are warning, however, that there is a ceiling to capacity for this arrangement because the…

Read more at: https://oilprice.com/Geopolitics/International/Shifting-Trade-Flows-Create-Logistical-Problems-In-Central-Asia.html

Aluminum Prices Remain Stagnant As Russian Exports Rise

Via AG Metal Miner  Aluminum prices saw a short-term rebound recently. After declining for much of February, price action found support in March and then began to return to the upside entering April. While the trend is starting to shift upward, the long-term direction for the aluminum market remains unclear. Overall, the Aluminum Monthly Metals Index (MMI) moved sideways, with a modest 0.92% increase from March to April. Last month, MetalMiner released its quarterly revision to the Annual Outlook. The report consolidates our 12-month view…

Read more at: https://oilprice.com/Metals/Commodities/Aluminum-Prices-Remain-Stagnant-As-Russian-Exports-Rise.html

OPEC’s Crude Oil Production Falls In March

OPEC’s crude oil production fell to 28.797 million bpd, according to OPEC’s latest edition of its Monthly Oil Market Report. According to OPEC’s secondary sources, OPEC’s 13 members produced 86,000 fewer barrels per day of crude oil in the month of March compared to February, with Angola accounting for the largest decrease of 64,000 bpd. Other OPEC members who saw declining production include Algeria, Equatorial Guinea, Iran, Iraq, Libya, Nigeria, and the UAE. The second biggest production drop was seen in Iraq, which had…

Read more at: https://oilprice.com/Energy/Crude-Oil/OPECs-Crude-Oil-Production-Falls-In-March.html

Ukraine Wants To Turn Black Sea Into “Sea Of NATO”

Ukraine’s foreign minister has urged the NATO alliance to be more active in the Black Sea region, saying the area is “instrumental for making the whole of Europe peaceful and future-oriented.”Speaking by video link to a Black Sea security conference in Bucharest on April 13, Foreign Minister Dmytro Kuleba said it was time to turn the Black Sea into “a sea of NATO.”Kuleba called on European countries to “address the common Russia problem together,” including by integrating Ukraine’s air and missile…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Ukraine-Wants-To-Turn-Black-Sea-Into-Sea-Of-NATO.html

Why Americans Aren’t Buying EVs

Here’s a peculiar sentiment check that we’re sure will have liberal voting soccer moms across the nation stunned: it looks as though the country simply isn’t rushing out to buy electric vehicles. At least that was the takeaway from a new Financial Times piece out this week which notes that the U.S. “still lags much of the developed world” in EV adoption. No wonder those hurricanes coming up the Gulf Coast keep getting bigger! Quick, everybody to the Tesla dealership! But seriously, the lack of demand is going to also be sure to stun the…

Read more at: https://oilprice.com/Energy/Energy-General/Why-Americans-Arent-Buying-EVs.html

Russia’s Gasoline Exports Jump As African Buyers Replace Europe

Russian gasoline exports surged in the first quarter of this year compared to the same period in 2022, as Moscow placed growing volumes of fuels with African customers after the EU embargo on seaborne imports of Russia’s fuels.    Russian gasoline exports were estimated at 1.9 million tons in the first quarter of 2023, up compared to 1.3 million tons exported in the same period of 2022, per Refinitiv data cited by Reuters. Analysts at Kpler have estimated that Russia’s exports of gasoline surged to 2.2 million tons in Q1 2023, from around…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russias-Gasoline-Exports-Jump-As-African-Buyers-Replace-Europe.html

OPEC: The Oil Market Is Less Tight Than A Year Ago

Commercial oil stockpiles have been rising in recent months in the developed economies in the OECD, pointing to a less tight market than at this time last year, OPEC said in its monthly report on Thursday, less than two weeks after major OPEC+ producers announced additional production cuts until the end of 2023.   “On inventories, OECD commercial inventories have been building in recent months, and product balances are less tight than seen at the same time a year ago,” OPEC said in its closely-watched Monthly Oil Market Report…

Read more at: https://oilprice.com/Energy/Energy-General/OPEC-The-Oil-Market-Is-Less-Tight-Than-A-Year-Ago.html

OPEC Raises Forecast For China’s Oil Demand Growth Again

Chinese oil demand is set to grow by 760,000 barrels per day (bpd) this year, OPEC said on Thursday, raising slightly its demand growth outlook for China while leaving global oil demand projections unchanged from last month. China’s oil demand is now expected to average 15.61 million bpd this year, up by 760,000 bpd year-over-year, OPEC said in its Monthly Oil Market Report (MOMR) today. The latest growth estimate is higher than the 710,000 bpd growth expected in last month’s report. While raising the outlook on China, OPEC left its…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/OPEC-Raises-Forecast-For-Chinas-Oil-Demand-Growth-Again.html

New Technology Could Bring Hydrogen Into The Mainstream

One of the world’s biggest challenges is slashing emissions before it’s too late. In fact, we’ve only got until 2050 in order to avoid some of the worst effects of climate change. And guess what? Asking people to ditch meat isn’t going to be enough. Even a drastic reduction in the use of fossil fuels alone won’t stop the Earth from reaching a point of no return. Solutions must come from every corner of the world, and cover every major industry and the power and process they use. And they need to come fast. That’s…

Read more at: https://oilprice.com/Energy/Energy-General/New-Technology-Could-Bring-Hydrogen-Into-The-Mainstream.html

Canada’s Biggest Bank Becomes The World’s Top Financier Of Fossil Fuels

JP Morgan is no longer the world’s biggest financier of fossil fuels. Last year Royal Bank of Canada (RBC) became the top bank funding oil and gas, a report by environmental groups showed this week. Fossil fuel financing from the world’s 60 largest banks hit $673 billion in 2022. These banks have funded $5.5 trillion in fossil fuels projects in the seven years since the adoption of the Paris Agreement, according to the annual Banking on Climate Chaos report by Rainforest Action Network, Oil Change International, Indigenous Environmental…

Read more at: https://oilprice.com/Energy/Energy-General/Canadas-Biggest-Bank-Becomes-The-Worlds-Top-Financier-Of-Fossil-Fuels.html

Asia Rushes To Buy Spot Oil Cargoes After OPEC+ Cuts

The biggest oil importers in Asia have been busy buying June-loading spot crude cargoes from the Middle East since top OPEC+ producers announced additional cuts beginning in May and after Saudi Arabia hiked again the price of its term cargoes going to Asia. Customers from China, Japan, and Thailand have been snapping spot cargoes from Middle Eastern producers such as the United Arab Emirates (UAE) and Qatar, traders told Bloomberg on Thursday. The higher demand for spot Middle Eastern supply has pushed up the regional Dubai benchmark, according…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Asia-Rushes-To-Buy-Spot-Oil-Cargoes-After-OPEC-Cuts.html

Stocks close higher Thursday, S&P 500 notches highest close since February: Live updates

Investors digested the March producer prices index that came in cooler than expected.

Read more at: https://www.cnbc.com/2023/04/12/stock-market-today-live-updates.html

Arrest made in stabbing death of Cash App founder Bob Lee, men reportedly knew each other

San Francisco supervisor Aaron Peskin confirms that an arrest has been made, and a report by Mission Local says the men may have known each other.

Read more at: https://www.cnbc.com/2023/04/13/tech-consultant-arrested-in-stabbing-death-of-cash-app-founder-bob-lee.html

U.S. officials identify leaked classified documents suspect as 21-year-old Air National Guardsman

President Joe Biden suggested on Thursday morning that officials appeared to be nearing a breakthrough in their investigation into who leaked the documents online.

Read more at: https://www.cnbc.com/2023/04/13/us-officials-identify-leaked-classified-documents-suspect-as-21-year-old-air-national-guardsman.html

A federal judge has blocked Biden’s clean water rule in 24 states

Judge Daniel Hovland of the U.S. District Court for the District of North Dakota issued a preliminary injunction to halt enforcement of the “waters of the United States” rule.

Read more at: https://www.cnbc.com/2023/04/13/a-federal-judge-has-blocked-bidens-clean-water-rule-in-24-states.html

Amazon CEO Andy Jassy says ‘really good’ A.I. models take ‘billions of dollars’ to train

Amazon isn’t the first to market with a model that generate human-like text. But Amazon wants to stand out with low prices, easy of use and choice.

Read more at: https://www.cnbc.com/2023/04/13/aws-launches-bedrock-generative-ai-service-titan-llms.html

Goldman recommends buying call options in these two tech titans before their earnings reports

Goldman Sachs is eyeing call options on two of the biggest players in the tech industry, as earnings week could bring a major lift to both stocks.

Read more at: https://www.cnbc.com/2023/04/13/buy-call-options-on-these-two-tech-giants-ahead-of-earnings-goldman-sachs.html

DOJ will ask Supreme Court to intervene in abortion pill case after ruling partially blocks access

Judges blocked mail delivery of the abortion pill mifepristone, reimposed doctor visits and shortened the length of time it can be used during pregnancy.

Read more at: https://www.cnbc.com/2023/04/13/abortion-pill-mifepristone-court-keeps-it-on-market-blocks-mail-delivery.html

Stocks making the biggest moves midday: Apple, Tesla, Netflix, Bed Bath & Beyond & more

These are the stocks posting the largest moves in midday trading.

Read more at: https://www.cnbc.com/2023/04/13/stocks-making-the-biggest-moves-midday-aapl-tsla-nflx-bbby-and-more.html

Ukraine war live updates: Law enforcement official confirms suspect Jack Teixeira arrested in Pentagon leak investigation

“The Department of Defense say they have taken steps to further restrict access to sensitive information,” White House Press Secretary Karine Jean-Pierre said.

Read more at: https://www.cnbc.com/2023/04/13/russia-ukraine-live-updates.html

George Santos has a possible challenger, as ex-Democratic Rep. Tom Suozzi considers a run for his old seat

Former Democratic Rep. Tom Suozzi is considering a face off with Republican Rep. George Santos in New York’s 3rd District election next year.

Read more at: https://www.cnbc.com/2023/04/13/george-santos-tom-suozzi-considers-run-for-ny-3rd-district.html

More women are out-earning their husbands but still picking up a heavier load at home

Among married couples in the U.S., the share of women who earn as much as or significantly more than their husbands has roughly tripled over the past 50 years.

Read more at: https://www.cnbc.com/2023/04/13/more-women-out-earn-their-husbands-but-still-do-more-work-at-home.html

18 states require personal finance education in schools—here’s what they’re teaching kids about money

The requirements for personal finance courses differ from state to state, but experts agree students should get some financial education before graduation.

Read more at: https://www.cnbc.com/2023/04/13/how-personal-finance-is-taught-in-us-schools.html

Florida cleans up after deluge strands cars, closes airport

South Florida kept a wary eye on a forecast for more rain as it cleaned up Thursday from nearly a foot that fell in a matter of hours, causing flooding.

Read more at: https://www.cnbc.com/2023/04/13/florida-cleans-up-after-deluge-strands-cars-closes-airport.html

Anheuser-Busch Loses $6BN In Six Days After Trans Ad Campaign That Top Execs Never Approved

After reaching a three-year high of $66.73 per share, Bud Light parent company Anheuser Busch Inbev lost more than $6 billion in market cap since announcing its partnership with 26-year-old transgender ‘influencer’ Dylan Mulvaney on April 2, as bar owners and distributors report a sharp decline in Bud Light sales over the past week.

The company’s market cap fell as low as $125.7 billion, down from $132.8 billion six days ago, a drop of more than five-percent.

Read more at: https://www.zerohedge.com/political/anheuser-busch-loses-6bn-six-days-execs-never-signed-trans-ad-campaign

21-Year-Old Suspect Arrested In Pentagon Leak

Update (1445ET): 21-year-old National Guardsman Jack Teixeira has been arrested in connection with the leak of hundreds of classified documents, according to the Washington Examiner and several other outlets.

Teixeira was identified by the NY Times ahead of his arrest at his home in Dighton, Mass Thursday afternoon. Television footage appeared to show armed personnel leading a male wearing red shorts and a green shirt with his hands cuffed behind his back, the WSJ reports.

Two police cruisers from the town of Dighton were blocking the road near a residence associated with Mr. Teixeira. They declined to speak about why they had blocked the road. A row of people who say they lived on the street were waiting to pass.

One neighbor said the police began blocking off the street around noon. At least one vehicle outside the police blockade had U.S. government license plates. -WSJ

*  *  *

Update(1255ET): The New York Times says it knows the identity of the leaker of a trove of classi …

Read more at: https://www.zerohedge.com/political/biden-says-feds-getting-close-finding-leaker-young-gamers-discord-theory-emerges

JPMorgan Internally Flagged Epstein’s Large Withdrawals Two Years Before 2008 Pedo Conviction

Employees of JPMorgan Chase internally flagged large cash withdrawals made by Jeffrey Epstein two years before he was convicted of soliciting a minor for prostitution, according to court papers filed Wednesday.

In 2006, the bank’s risk management team noted that Epstein “routinely” took out cash in $40,000 to $80,000 increments, several times a month, the Wall Street Journal reports, citing a filing by the US Virgin Islands in an amended lawsuit against the bank.

The sex-trafficking pedophile was pulling out more than $750,000 per year in cash, according to the lawsuit.

Epstein was first charged with a sex crime in 2006. He pleaded guilty to solicitation of prostitution with a minor in 2008 and spent about 13 months in prison. JPMorgan continued providing services to Epstein until 2013, when it says it closed his accounts. Ep …

Read more at: https://www.zerohedge.com/political/jpmorgan-internally-flagged-epsteins-large-withdrawals-two-years-2008-pedo-conviction

US Kicks Off 1st Nuclear War Games Since Russia-Ukraine War

Authored by Kyle Anzalone via The Libertarian Institute,

The Pentagon will begin simulating a nuclear war, according to a Department of Defense press release. The war games come as the Bulletin of the Atomic Scientists warns a civilization-ending war is closer than at any time in history.

The military exercises, dubbed Global Thunder 23, will be conducted by Strategic Command (STRATCOM). American soldiers and bombers will be joined by allies in the war games. The STRATCOM press release said this year’s drills “will include an increase in bomber aircraft flights throughout the exercise.”

Read more at: https://www.zerohedge.com/military/us-kicks-1st-nuclear-war-games-russia-ukraine-war

Pay rises above inflation would be a terrible mistake, says Hunt

The chancellor says the impact of the junior doctors’ strike on NHS patients is “regrettable”.

Read more at: https://www.bbc.co.uk/news/business-65267370?at_medium=RSS&at_campaign=KARANGA

Sainsbury’s follows Tesco in cutting milk prices

The rival supermarkets have cut the price of milk in their stores, a sign that inflation could be easing.

Read more at: https://www.bbc.co.uk/news/business-65267367?at_medium=RSS&at_campaign=KARANGA

M&S removes T-shirt after being accused of ‘ripping off’ pub name

The Craft Beer Co. pointed out the similarities on social media, prompting M&S to remove it from sale.

Read more at: https://www.bbc.co.uk/news/business-65265673?at_medium=RSS&at_campaign=KARANGA

Major setback! SEBI issues showcause notice to Brightcom Group on alleged fraud

The interim order has been passed against the company, Suresh Kumar Reddy, Vijay Kancharia, Yerradoddi Ramesh Reddy, and Y. Srinivasa Rao. Suresh Reddy and Kancharia are part of the promoter group, while Rao is the CFO.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/major-setback-sebi-issues-showcause-notice-to-brightcom-group-on-alleged-fraud/articleshow/99468023.cms

Zee Ent’s Punit Goenka pays Rs 50 lakh to settle insider trading case with SEBI

IndusInd Bank in its plea claimed a default of Rs 83.08 crore against the media and entertainment firm promoted by Subhash Chandra.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/zee-ents-punit-goenka-pays-rs-50-lakh-to-settle-insider-trading-case-with-sebi/articleshow/99470225.cms

Market Snapshot: S&P 500, Dow head for highest close in 2 months after another report of cooling inflation while investors await bank earnings

U.S. stocks climb Thursday, led by technology stocks, as traders parse another batch of inflation data showing pressures easing in March, while the first reports from what’s expected to be a gloomy first quarter earnings season arrived, with several marquee releases due on Friday.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-71D3-98FB0234B106%7D&siteid=rss&rss=1

Distributed Ledger: Ether rallies after an upgrade that enables investors to withdraw their locked coins. Here’s why

The latest Distributed Ledger column from MarketWatch: a weekly look at the most important moves and news in crypto.

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In One Chart: The ‘fuel is there to blow the top off’ the stock market. Here’s what’s missing.

The ingredients are in place for the launch of a new bull market, says a top Wall Street technician. But there’s no guarantee.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-71D4-56A062C3A1A3%7D&siteid=rss&rss=1