Unpacking Ukraine’s Gains And Losses At The NATO Summit

NATO summits tend to be rather drab affairs. Most announcements are known well in advance and the official summit communique that runs to several pages of technocratic prose normally just gets a cursory look by disinterested media. Not so at the Vilnius summit on July 11-12. The document was eagerly scrutinized for words indicating if or when Ukraine could join the military alliance. Emotions were running high: from the first crushing disappointment, if not downright anger, expressed by the Ukrainian leadership about what was offered to them, to…

Read more at: https://oilprice.com/Geopolitics/International/Unpacking-Ukraines-Gains-And-Losses-At-The-NATO-Summit.html

The UK Is Its Own Worst Enemy In Green Power Progress

Alice’s Adventures in Wonderland is set for a fresh stage revival later this year within the vaults of London Waterloo, the latest rendition of Lewis Caroll’s literary nonsense staple – where characters boast of impossible things. Much like the Red Queen, the government is hoping the British public will also believe in impossible things, as many as six before breakfast judging by the latest setbacks. It wants us to believe 50GW of offshore wind generation will be reached by the end of the decade, investor confidence in onshore…

Read more at: https://oilprice.com/Alternative-Energy/Renewable-Energy/The-UK-Is-Its-Own-Worst-Enemy-In-Green-Power-Progress.html

Rising Seas, Rising Rates: The Impact Of Climate Change On Insurance

A person buying insurance does so because he or she is concerned about the future. A house fire could lead to a financial wipe-out. A car accident resulting in hospitalization could result in savings-depleting bills without insurance. Insurance companies, however, concern themselves primarily with the past. They pay people called actuaries to create detailed models of risk using voluminous data from the past regarding medical diagnoses, life expectancy, damage due to natural disasters, auto accident statistics and myriad other pieces of information.…

Read more at: https://oilprice.com/The-Environment/Global-Warming/Rising-Seas-Rising-Rates-The-Impact-Of-Climate-Change-On-Insurance.html

Liberty Steel Wins Dunaferr Acquisition Bid

Via AG Metal Miner Liberty Steel recently won a bid to take over Hungary’s Dunaferr. According to Hungary’s Ministry of Economic Development, a local court put the integrated flats producer into liquidation in late 2022. Liberty will pay €55 million ($61 million) for the Dunaferr plant, beating out India’s Vulcan Steel, Ukrainian group Metinvest, Swiss-based Trasteel Trading, and local company Trinec Property. In its July 11th statement, the Ministry stated that Liberty originally submitted its bid on July 7. However, the…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Liberty-Steel-Wins-Dunaferr-Acquisition-Bid.html

Decarbonization Is Happening Faster Than You May Think

You must have seen those zero-carbon-emissions-by-2050 charts by now. They show up in almost every corporate report or presentation. You know, that bar chart that shows a vertical bar indicating current carbon emissions at the left, followed in various years by segments of carbon eliminated for various reasons, ending up with no emissions by 2050. Planning by PowerPoint. The kind of presentation that satisfies unconcerned corporate directors, gullible ESG investors, and perhaps a few delusional executives. Don’t waste your time on them. They…

Read more at: https://oilprice.com/Energy/Energy-General/Decarbonization-Is-Happening-Faster-Than-You-May-Think.html

Gasoline Prices Inch Up As Crude Soars

After months of decline following falling crude prices, gasoline and diesel prices have started rising thanks to soaring crude prices. National average gas prices in the United States have inched up to $3.565 per gallon from $3.543 a week ago, while a gallon of diesel now averages $3.842 from $3.837 a week ago. Oil markets are looking to build on three straight weeks of increases, which coincides with the oil price rally. Oil markets have enjoyed a sustained rally over the past three weeks, with oil prices briefly moving above $80 per barrel for…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Gasoline-Prices-Inch-Up-As-Crude-Soars.html

Wheat Prices Soar As Russia Suspends Black Sea Grain Deal

Wheat prices jumped as news broke Monday that Russia let the UN-brokered grain deal lapse at midnight, Istanbul time, marking the end of the Turkey-administered humanitarian corridor which let Ukrainian grains get exported to global markets. Russia since confirmed the deal has been “terminated”. What was formally called the Black Sea Grain Initiative had already been extended for multiple short increments since its implementation in July 2022. The Kremlin confirmed in a statement by Dmitry Peskov: “The Black Sea agreements ceased to be valid today.…

Read more at: https://oilprice.com/Geopolitics/International/Wheat-Prices-Soar-As-Russia-Suspends-Black-Sea-Grain-Deal.html

Japan Wants A Global Emergency Natural Gas Reserve

Japan, a major importer of energy commodities, plans to propose the creation of a global emergency reserve for natural gas, similar to the emergency reserve requirements for oil by the International Energy Agency (IEA), as the resource-poor import-dependent nation looks to avoid shortages and price spikes. Japan is expected to propose a global emergency gas stockpile at a natural gas conference in Tokyo on Tuesday, sources with knowledge of the plans told Bloomberg on Monday.   While the EU has a collective target to fill gas storage…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Japan-Wants-A-Global-Emergency-Natural-Gas-Reserve.html

Kuwait Looks To Become A Top OPEC Producer With Massive Output Expansion

One of OPEC’s largest producers, Kuwait, plans to boost its crude oil production capacity to 3.15 million barrels per day (bpd) within four years, from 2.7 million bpd now, the government said on Monday.  Kuwait also intends to raise its natural gas production by 79% over the next four years, according to the government plans reported by The National.  Kuwait is currently OPEC’s fifth-largest producer after Saudi Arabia, Iraq, the United Arab Emirates (UAE), and Iran, according to secondary sources in OPEC’s latest…

Read more at: https://oilprice.com/Energy/Crude-Oil/Kuwait-Looks-To-Become-A-Top-OPEC-Producer-With-3-Million-Bpd-Output-Expansion.html

Media Error Triggers Significant Oil Price Spike

If you’ve ever wondered if media headlines and jawboning really influence oil prices, you can now put the question to rest. A mistake in publishing sent oil prices up sharply on Monday morning—but prices have since bounced back to normal levels now that the offending media piece has been removed and a retraction printed. The Reuters headline wasn’t exactly incorrect. “Saudi Arabia’s Energy Department will voluntarily extend production cuts until the end of 2024.” But we knew that. This is old news that dates back to June 4, when Saudi Arabia…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Media-Error-Triggers-Significant-Oil-Price-Spike.html

China’s Q2 Miss Sends Shivers Through Oil And Equities Markets

US equity futures were flat, erasing a modest earlier gain, while European stocks and oil retreated as bonds rallied after the latest Chinese data dump delivered more evidence of a slowdown in the world’s second-largest economy, where Q2 GDP rose just 6.3%. below the 7.1% consensus forecast. At 7:30am, S&P futures were down 0.1% to 4,531 while Nasdaq 100 futures were fractionally in the green. Bond yields are 3-5bp lower, with the benchmark 10Y at 3.78%; the USD is weaker again; commodities are mixed with wheat pricing spiking after Russia…

Read more at: https://oilprice.com/Finance/the-Markets/Chinas-Q2-Miss-Sends-Shivers-Through-Oil-And-Equities-Markets.html

SLB Halts Tech And Equipment Supply To Russia

SLB, the biggest oilfield services firm in the world, is halting all shipments of products and technology into Russia from all SLB facilities worldwide, in response to the continued expansion of international sanctions—more than a year after other major Western oilfield services providers and oil and gas producers abandoned their Russian operations. The other major oilfield services providers, Baker Hughes and Halliburton, sold their Russian businesses last year, while Big Oil – including Exxon, Shell, and BP – ended new investments…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/SLB-Halts-Tech-And-Equipment-Supply-To-Russia.html

European Natural Gas Prices Plunge As Norwegian Supply Rises

Europe’s benchmark natural gas prices extended last week’s losses to drop by nearly 3% midday in Europe on Monday after a prolonged maintenance period on a key Norwegian gas supply route ended this weekend. The front-month futures at the TTF hub, the benchmark for Europe’s gas trading, traded at $28.32 (25.22 euros) per megawatt-hour (MWh) as of 11:57 a.m. GMT on Monday, down by 2.84% on the day.   Last week, Europe’s gas prices posted their biggest weekly loss for this year, 22%, as Norwegian gas supply increased following…

Read more at: https://oilprice.com/Energy/Energy-General/European-Natural-Gas-Prices-Plunge-As-Norwegian-Supply-Rises.html

Oil Demand Jumped By 3 Million Bpd In May To Near-Record Levels

The world’s oil demand jumped by more than 3 million barrels per day (bpd) in May compared to April, nearing the record demand level seen in March this year, the latest data by the Joint Organizations Data Initiative (JODI) showed on Monday.   The increase in global oil demand was largely driven by a demand surge in China, as well as increases in India, Saudi Arabia, and the United States. China’s total oil product demand hit 17.37 million bpd in May, the JODI data showed. This was an increase of 1.7 million bpd compared to…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Oil-Demand-Jumped-By-3-Million-Bpd-In-May-To-Near-Record-Levels.html

Saudi Arabia’s Crude Oil Exports Slumped Below 7 Million Bpd In May

In May, Saudi Arabia’s oil exports plunged below 7 million barrels per day (bpd) for the first time this year as the world’s biggest crude exporter and several other large OPEC+ producers began a collective cut of 1.6 million bpd in May. Saudi crude exports declined by 388,000 bpd from April to 6.93 million bpd in May, data from the Joint Organizations Data Initiative (JODI) showed on Monday. In April, Saudi Arabia’s crude exports slumped by 207,000 bpd from March, to 7.32 million bpd – a five-month low at the time, according…

Read more at: https://oilprice.com/Energy/Energy-General/Saudi-Arabias-Crude-Oil-Exports-Slumped-Below-7-Million-Bpd-In-May.html

The war against inflation is a long way away from being won

Despite recent signs that inflation is cooling, the fight to bring down the meteoric price increases of the past three years is far from over.

Read more at: https://www.cnbc.com/2023/07/17/the-war-against-inflation-is-a-long-way-away-from-being-won.html

Dow rises for sixth straight day, closes at highest level in 2023: Live updates

Stocks are coming off a winning week, with the Dow notching its best performance since March.

Read more at: https://www.cnbc.com/2023/07/16/stock-market-today-live-updates-.html

FDA approves AstraZeneca, Sanofi shot that protects infants and toddlers against RSV

RSV is the leading cause of hospitalization among children less than a year old, according to scientists.

Read more at: https://www.cnbc.com/2023/07/17/fda-approves-astrazeneca-sanofi-rsv-shot-for-infants-toddlers.html

Russia axes landmark Ukraine grain deal just hours before deadline

A pact facilitating the export of key Ukrainian grains to the global markets was set to expire on Monday.

Read more at: https://www.cnbc.com/2023/07/17/russia-says-it-will-not-extend-the-landmark-ukraine-grain-deal.html

Solar and wind are set to produce a third of global electricity in 7 years. How to invest behind it

Solar and wind energy generation are set to rise “exponentially,” per the Rocky Mountain Institute. CNBC found the stocks that could outperform in this boom.

Read more at: https://www.cnbc.com/2023/07/17/solar-and-wind-are-set-to-produce-a-third-of-global-electricity-in-7-years-how-to-invest-behind-it.html

Ford cuts prices on its electric F-150 Lightning pickups by as much as $10,000

Ford said lower mineral costs and an expected production boost allowed it to cut the electric truck’s prices.

Read more at: https://www.cnbc.com/2023/07/17/ford-f-150-lightning-ev-price-cuts.html

These 10 states are America’s best at producing the workers that employers want to hire

Workers across the U.S. are in short supply, and companies are targeting states where jobseekers are plentiful.

Read more at: https://www.cnbc.com/2023/07/17/these-10-states-are-americas-best-for-workers-employers-want-to-hire.html

U.S. lawmakers extend social media investigation to Meta’s Threads

The letter from House Judiciary Chair Jim Jordan, R-Ohio, is an indication of the added spotlight Meta’s newest product could bring to the company.

Read more at: https://www.cnbc.com/2023/07/17/house-judiciary-expands-social-media-inquiry-to-metas-threads-.html

Binance considers thousands of layoffs, and ARK sells more Coinbase stock: CNBC Crypto World

CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Kevin Dinino of KCD PR discusses how crypto companies are marketing themselves after 2022’s meltdown.

Read more at: https://www.cnbc.com/video/2023/07/17/binance-considers-layoffs-ark-sells-coinbase-stock-crypto-world.html

Ukraine war live updates: Wheat prices jump as Russia terminates Black Sea grain deal; two dead in Crimea bridge blast

The 12-mile Crimean bridge has served as a key artery for Russian troops fighting in Ukraine.

Read more at: https://www.cnbc.com/2023/07/17/russia-ukraine-live-updates.html

More Americans are moving to Spain — and paying high prices for real estate

The expat American population in Spain jumped 13% from 2019 to 2021 and is the foreign demographic paying the second-highest amount for living space.

Read more at: https://www.cnbc.com/2023/07/17/more-americans-are-moving-to-spain-paying-high-prices-for-real-estate.html

Marriott and MGM link loyalty programs in a bid on business travelers

The partnership seeks to capitalize on frequent or business travelers, who can be fiercely loyal to certain hotel brands in effort to rack up rewards.

Read more at: https://www.cnbc.com/2023/07/17/marriott-and-mgm-link-loyalty-programs-in-a-bid-on-business-travelers.html

Elizabeth Warren urges SEC to investigate Tesla over Twitter ties, corporate governance

Sen. Elizabeth Warren, D-Mass., sent a nine-page letter urging the SEC to investigate Tesla and its board of directors.

Read more at: https://www.cnbc.com/2023/07/17/warren-urges-sec-to-investigate-tesla-over-twitter-ties-governance.html

Cotton: Secret Service Didn’t Even Talk To Hunter Biden About White House Cocaine

Authored by Steve Watson via Summit News,

Following the announcement that the Secret Service has shut down the investigation into the cocaine found inside the White House without finding a culprit, Senator Tom Cotton said Sunday that they didn’t even talk to Hunter Biden about the matter.

“We’ve got no answers,” Cotton said during an interview with Fox News, adding “That’s not surprising. The Secret Service is a troubled agency as it’s long had challenges. It probably needs new leadership.”

“I take this very seriously. I mean, what if this was anthrax?” Cotton continued, adding “This is supposed to be the most secure building in the world. Yet the Secret Service closed down this investigation after just a few days.”

“It’s my understanding, they barel …

Read more at: https://www.zerohedge.com/political/cotton-secret-service-didnt-even-talk-hunter-biden-about-white-house-cocaine

Paramount Falls On ‘Mission: Impossible’ Box Office Miss; Sound Of Freedom Outperforms

Paramount shares fell 3% in premarket trading in New York after Tom Cruise’s Mission: Impossible — Dead Reckoning Part One missed box office projections in its debut weekend across US and Canada, according to Bloomberg.

Paramount and Skydance spent $290 million on the production of the action movie. However, since its release on July 12, it has only grossed $80 million, falling short of Paramount Pictures’ projection of $90 million. Over the weekend, the film’s earnings were $56.2 million, missing Boxoffice Pro’s forecasted range of $61 million to $75 million in ticket sales from Friday to Sunday.

Second on the box office list is the anti-child sex trafficking film Sound of Freedom. This film continues to shock the entertainment industry with how well it has done in the 13 days since its release, with near-term projections to break the $100 million mark.

Read more at: https://www.zerohedge.com/markets/paramount-falls-mission-impossible-box-office-miss-sounds-freedom-outperforms

Biden Official Committed Grand Larceny While On Sensitive Government Trip; Report

Authored by Jonathan Turley,

According to a Fox News report, former senior Department of Energy (DOE) official Sam Brinton committed one of his thefts of baggage while on an official government trip to the Nevada National Security Site. Sen. John Barrasso, R-Wyo., the ranking member of the Senate Energy and Natural Resources Committee, is asking the Biden Administration why the security and vetting process missed Brinton’s apparent theft compulsion before any appointment.

The concern is that Brinton’s luggage may have been checked, but Brinton was not as a high-ranking Energy Department official.

Read more at: https://www.zerohedge.com/political/biden-official-committed-grand-larceny-while-sensitive-government-trip-report

Billionaire Warns Hollywood Faces “Absolute Collapse” If Strike Isn’t Resolved

Authored by Jack Phillips via The Epoch Times,

A failure to resolve twin strikes of the writers’ and screen actors’ guilds could lead to “devastating effects” if no deal is reached soon, according to billionaire media mogul Barry Diller.

On July 14, a number of top movie and TV actors joined picket lines alongside screenwriters on the first full day of a walkout that has become Hollywood’s biggest labor fight in decades. It’s the first double-barreled strike by actors and screenwriters in more than six decades.

The two guilds have similar issues with studios and streaming services. They’re concerned about contracts keeping up with inflation and about residual payments, which compensate creators and actors for the use of their material beyond the original airing, such as in reruns or on streaming services. The unions als …

Read more at: https://www.zerohedge.com/personal-finance/billionaire-warns-hollywood-faces-absolute-collapse-if-strike-isnt-resolved

Post Office scandal: ‘I lost absolutely everything’

Victims say the fallout has been “horrendous” as a report calls compensation schemes a “patchwork quilt”.

Read more at: https://www.bbc.co.uk/news/business-66221054?at_medium=RSS&at_campaign=KARANGA

Train strikes: When are they and why are they taking place?

Aslef train drivers announce another overtime ban, while members of the RMT will walk out later this week.

Read more at: https://www.bbc.co.uk/news/business-61634959?at_medium=RSS&at_campaign=KARANGA

Russia seizes control of Danone and Carlsberg operations

Under a new order, the Danone and Carslberg units have been put in “temporary management” of the state.

Read more at: https://www.bbc.co.uk/news/business-66218999?at_medium=RSS&at_campaign=KARANGA

Ahead of Market: 10 things that will decide D-Street action on Tuesday

The S&P 500 and the Dow edged up on Monday, as investors awaited quarterly results from industry heavyweights through the week, while Apple and Tesla boosted the tech-heavy Nasdaq. Second-quarter earnings are gathering momentum, with Tesla due to report on Wednesday, while Bank of America , Morgan Stanley, Goldman Sachs and Netflix are also lined up through the rest of the week

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/ahead-of-market-10-things-that-will-decide-d-street-action-on-tuesday/articleshow/101835440.cms

Here’s how Dolly Khanna reshuffled her portfolio in June 2023

​Her portfolio leans towards more traditional stocks in manufacturing, textile, chemicals, and sugar stocks.​

Read more at: https://economictimes.indiatimes.com/markets/web-stories/heres-how-dolly-khanna-reshuffled-her-portfolio-in-june-2023/articleshow/101835222.cms

​Gainers and Losers: Adani Enterprises, Hero MotoCorp among top stocks in action on Monday

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Read more at: https://economictimes.indiatimes.com/markets/web-stories/gainers-and-losers-adani-enterprises-hero-motocorp-among-top-stocks-in-action-on-monday/articleshow/101828374.cms

In One Chart: Commercial real estate prices are still expected to crater, Morgan Stanley warns

Low transaction volumes and few distressed sales are keeping U.S. commercial property prices elevated for now, Morgan Stanley analysts say.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-722E-07C9E3050AF5%7D&siteid=rss&rss=1

Market Snapshot: Dow up 100 points, stocks set to extend last week’s gains ahead of busy week of earnings

U.S. stocks look set to extend last week’s gains in Monday’s final hour of trade, even after disappointing news on China’s economy.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-722D-860DCF2F842B%7D&siteid=rss&rss=1

IPO Report: Il Makiage parent Oddity Tech is going public: 5 things to know about the Israeli digital beauty company

Oddity Tech, a fast-growing consumer tech platform for the beauty and wellness market, is coming to market this week.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-722D-9A07FD36BC24%7D&siteid=rss&rss=1