Iran’s Latest Move Brings A New Nuclear Deal With The U.S. Closer

The deal announced on 11 September that saw five Americans released from prison in Iran has brought the quiet ongoing discussions over a new, watered-down version of the Joint Comprehensive Plan of Action (JCPOA) – colloquially known as the ‘nuclear deal’ – “much closer to fruition”, a senior figure in the European Union’s (E.U.) energy security complex exclusively told OilPrice.com last week. “Part of the new [JCPOA] will involve the unfreezing of monies due to Iran for oil sold to several countries…

Read more at: https://oilprice.com/Geopolitics/Middle-East/Irans-Latest-Move-Brings-A-New-Nuclear-Deal-With-The-US-Closer.html

Turkmenistan’s Natural Gas Boom Sparks European Interest

Turkmenistan’s huge gas reserves have been generating considerable interest from potential importers following Ashgabat’s announcement in late July that it is open to the development of a pipeline to carry its gas across the Caspian and on to Europe. Most significant so far has been the interest shown by Hungary, which on August 20 signed a framework gas supply agreement with Turkmenistan, during a state visit to Budapest by Turkmen President Serdar Berdymukhamedov. Also in Budapest for meetings with Hungarian leader Viktor Orban were Turkish President…

Read more at: https://oilprice.com/Energy/Natural-Gas/Turkmenistans-Natural-Gas-Boom-Sparks-European-Interest.html

Oil Closes In On $95 Per Barrel, Hitting $100 In Some Markets

The oil-price rally continued in full force on Monday, with Brent crude closing in on $95 per barrel in early afternoon trading, and some crude grades around the world topping $100.  At 12:23 p.m. ET on Monday, Brent crude was trading at $94.53, while WTI was trading at $91.81.  Elsewhere, Reuters reported that Nigerian Qua Iboe crude rallied past $100 per barrel on Monday, while Malaysian Tapis crude had already surpassed that mark last week, citing Swedish bank SEB analyst Bjarne Schieldrop as saying in a report…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Oil-Closes-In-On-95-Per-Barrel-Hitting-100-In-Some-Markets.html

BMW And Mercedes Debut Game-Changing EV Concepts

Both BMW and Mercedes announced innovative new concept electric vehicles (EVs) this month that they say can compete with the range and capabilities of new Tesla models. The automakers hope to combine their extensive manufacturing experience with new EV technologies to create models that will compete not only with the biggest U.S. and European EV makers but with China’s rising stars.  This month, both BMW and Mercedes have unveiled impressive new concept cars that could rival Tesla in EV capabilities. The German automakers displayed the…

Read more at: https://oilprice.com/Energy/Energy-General/BMW-And-Mercedes-Debut-Game-Changing-EV-Concepts.html

$6 Billion In Iranian Oil Funds Unfrozen As Tehran Releases U.S. Prisoners

Five Americans imprisoned in Iran were officially flown out of Tehran on Monday as the U.S. unfroze some $6 billion in Iranian oil funds held for five years in South Korea. The prisoner swap deal also included the release of five Iranian prisoners being held by Americans, two of whom plan to stay in the U.S.  As of late morning Monday ET, the five American prisoners were on a plane headed from Tehran to Doha, Qatar, according to the White House.  One of the prisoners being held in Iran was an oil executive with dual citizenship detained…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/6-Billion-In-Iranian-Oil-Funds-Unfrozen-As-Tehran-Releases-US-Prisoners.html

U.S. Gasoline Prices Rise On Refinery Outages

Retail gasoline prices in the United States are continuing to rise, and are up 4.6 cents from a week ago, according to GasBuddy data. The national average is still down 1 cent from a month ago, but nearly 20 cents higher from this point last year. The national average for a gallon of gasoline is $3.83 per gallon as of Sunday, GasBuddy data shows. The reason behind the rise is refinery outages in the western United States, but relief may soon be coming for some. “With the transition back to cheaper winter gasoline now upon us in nearly every…

Read more at: https://oilprice.com/Energy/Energy-General/US-Gasoline-Prices-Rise-On-Refinery-Outages.html

Washington May Put Military Personnel On Tankers In Strait Of Hormuz

Washington is taking steps to expand the U.S.-flagged commercial tanker fleet, which transports oil for the U.S. military and could start placing Navy and Marine personnel on tankers traversing the Strait of Hormuz, Reuters reports.  For 2023, Washington’s goal is to charter 10 vessels for up to $6 million per year each, while nine vessels have so far been added to the roster, with agreements running up to 2035. Next year, the Department of Defense plans to add an additional 10 vessels to the program. The expansion of the Defense…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Washington-May-Put-Military-Personnel-On-Tankers-In-Strait-Of-Hormuz.html

UK’s Offshore Wind Aspirations At Risk After Auction Flop

After the most recent U.K. offshore wind auction failed to attract a single bid, the outlook for British wind energy looks increasingly bleak. In recent months, the U.K.’s conservative government has made its backing for oil and gas projects in the North Sea clear, potentially to the detriment of the country’s green transition. The U.K. relies heavily on wind power, which provides over a quarter of its electricity, and the recent auction presents yet another blow to the country’s green ambitions.  This September saw a record…

Read more at: https://oilprice.com/Energy/Energy-General/UKs-Offshore-Wind-Aspirations-At-Risk-After-Auction-Flop.html

Chevron LNG Plant Returns To Full Production As Strikes Continue

Chevron’s Wheatstone LNG export facility in Australia has returned to full production after a fault at the plant cut output by around 25% last week, the U.S. supermajor said on Monday as strikes at its two Australian facilities escalate amid labor disagreements. Last Thursday, LNG production at Wheatstone was reduced by 25% after a fault, the day on which trade unions escalated their strikes at the plant and the other Chevron LNG facility, Gorgon. The fault at the Australian plant coincided with the escalation of the strikes at…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Chevron-LNG-Plant-Returns-To-Full-Production-As-Strikes-Continue.html

Musk Meets Erdogan About Potential Tesla Factory

Elon Musk in May said that Tesla would pick a new gigafactory location by the end of the year. Lately, the billionaire has spoken with a handful of world leaders as they present enticing offers to persuade the world’s wealthiest man to build a new factory in their respective countries.  On Sunday, Turkish President Recep Tayyip Erdogan and Musk met in New York City to discuss a potential Tesla factory in Turkey, which borders Southeast Europe and Western Asia. Turkish state-owned Anadolu Agency confirmed the meeting at the Turkish House,…

Read more at: https://oilprice.com/Energy/Energy-General/Musk-Considers-Saudi-Arabia-Meets-Erdogan-About-Potential-Tesla-Factory.html

Germany Sees Renewables Generating Over 50% Of Its Electricity In 2023

Renewable energy sources are expected to generate more than 50% of Germany’s electricity this year, Economy Minister Robert Habeck said at a conference in Berlin on Monday. However, the minister from the Green party who is also responsible for climate action, warned that Europe’s biggest economy needs to accelerate the rollout of green energy to meet its climate targets to 2030 and beyond, Reuters reports.    By 2030, Germany aims to have renewables account for 80% of its electricity generation, Habeck said. “We won’t…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Germany-Sees-Renewables-Generating-Over-50-Of-Its-Electricity-In-2023.html

ChatGPT’s Surprising Environmental Footprint Revealed

Climate alarmists have waged war on energy-intensive cryptocurrency mining operations but have yet to denounce large language models (LLMs) like Microsoft-backed OpenAI’s ChatGPT that use 16 ounces of fresh water every time a user asks it a series of questions.  Microsoft revealed in its latest environmental report that its global water consumption surged 34% from 2021-22 (to nearly 1.7 billion gallons), a massive increase versus the previous years primarily due to artificial intelligence research, according to AP News.  “It’s fair…

Read more at: https://oilprice.com/Energy/Energy-General/ChatGPTs-Surprising-Environmental-Footprint-Revealed.html

China Triples Diesel Exports

Chinese refiners have tripled their exports of diesel so far this year as export quotas and rising refining margins in Asia proved incentives enough amid tepid domestic diesel demand.   Between January and August, China’s exports of diesel soared by 197.2% compared to the same eight months of 2022, according to data from the General Administration of Customs on Monday cited by Reuters. For August alone, Chinese diesel exports surged by 51.5% year-on-year, the official Chinese data showed. Exports of gasoline and jet fuel also jumped…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/China-Triples-Diesel-Exports.html

Brazil Could Drill For Oil In Environmentally Sensitive Offshore Area

Brazil could launch oil exploration in an environmentally sensitive deepwater basin if state oil giant Petrobras has a “cautious” approach to drilling in the area, according to Brazilian Finance Minister Fernando Haddad. The so-called Equatorial Margin offshore Brazil including the Foz do Amazonas, Pará-Maranhão, and Barreirinhas basins, and is estimated to hold large oil and gas reserves.   “We may need oil from the Equatorial Margin on the condition that Petrobras take environmental precautions and Petrobras…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Brazil-Could-Drill-For-Oil-In-Environmentally-Sensitive-Offshore-Area.html

Diesel Shortage Pushes Russia’s ESPO Crude Above Brent

A shortage of diesel fuel has pushed Russia’s ESPO crude blend to a premium over Brent crude, Bloomberg has reported, citing unnamed traders. ESPO, named after the East-Siberia-Pacific Ocean pipeline that carries it to export markets, is a light crude with a low sulfur content that independent Chinese refiners are especially partial to. Per Bloomberg, ESPO is especially good for diesel fuel production, hence the price increase as some parts of the world struggle to cover demand with existing refining capacity. As Reuters’ market analyst…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Diesel-Shortage-Pushes-Russias-ESPO-Crude-Above-Brent.html

Striking unions impacting the economy at a level not seen in decades

So far, the UAW stoppage has impacted just a small portion of the workforce with limited implications for the broader economy.

Read more at: https://www.cnbc.com/2023/09/18/striking-unions-impacting-the-economy-at-a-level-not-seen-in-decades.html

Salesforce turns to ‘boomerangs,’ luring back former execs to help reignite growth

Salesforce is hiring back former executives to help the company improve its performance in a challenging economy

Read more at: https://www.cnbc.com/2023/09/18/salesforce-is-luring-boomerangs-to-reaccelerate-growth.html

Stellantis could close 18 facilities under UAW deal — here are the full details of its latest offer

The company made the latest offer Thursday, before the start of targeted strikes by the United Auto Workers Union against Stellantis, Ford and GM.

Read more at: https://www.cnbc.com/2023/09/18/uaw-strike-stellantis-could-close-18-facilities-under-deal.html

Biden to push for Ukraine aid, democracy as China and Russia skip UN General Assembly

President Joe Biden will address the United Nations General Assembly on Tuesday, where he plans to promote democracy and advocate for increased Ukraine aid.

Read more at: https://www.cnbc.com/2023/09/18/biden-to-push-for-ukraine-aid-democracy-as-china-and-russia-skip-un.html

S&P 500 closes little changed Monday as traders await Fed policy meeting: Live updates

The market looked ahead to the central bank’s upcoming policy meeting.

Read more at: https://www.cnbc.com/2023/09/17/stock-futures-are-little-changed-as-wall-street-awaits-fed-meeting-live-updates.html

How a North Korean cyber group impersonated a Washington D.C. analyst

Jenny Town is a leading expert on North Korea at the Stimson Institute and the director of Stimson’s 38 North Program. She told an amazing tale on Monday.

Read more at: https://www.cnbc.com/2023/09/18/how-a-north-korean-cyber-group-impersonated-a-washington-dc-analyst.html

Goldman says iPhone demand outpacing supply, sees more than 20% upside for Apple shares

Demand is outpacing supply for certain iPhone 15 models, suggesting promising upside for Apple, according to Goldman.

Read more at: https://www.cnbc.com/2023/09/18/goldman-says-iphone-demand-outpacing-supply-sees-more-than-20percent-upside-for-apple-shares.html

Apple just released its big annual iPhone update. Here’s what’s new and how to install it

There are a lot of changes, but here are some of the highlights in iOS 17 you need to know about.

Read more at: https://www.cnbc.com/2023/09/18/apple-ios-17-released-whats-new-and-how-to-download.html

Elon Musk says Twitter, now X, is moving to small monthly subscription and has 550 million users

Musk used a livestreamed conversation with Israeli Prime Minister Benjamin Netanyahu to discuss plans for Twitter (now X) and refute criticisms of antisemitism.

Read more at: https://www.cnbc.com/2023/09/18/musk-says-twitter-now-x-is-moving-to-monthly-subscriptions.html

New York state regulator proposes tougher guidelines for crypto listings: 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, Ryan Rugg, Citi’s global head of digital assets for treasury and trade solutions, discusses the bank’s new token service, which is part of a wider push to offer crypto to institutional clients.

Read more at: https://www.cnbc.com/video/2023/09/18/new-york-state-regulator-proposes-tougher-guidelines-crypto-listings-cnbc-crypto-world.html

Apple’s new AirPods won’t have to be taken out of your ears as often, thanks to sophisticated AI

A slew of software features launching with the new AirPods enable users to leave their earbuds in all day while navigating cities or talking to co-workers.

Read more at: https://www.cnbc.com/2023/09/18/airpods-pro-usb-c-hands-on-adaptive-audio-and-conversation-awareness.html

Golf legend Gary Player says government should stay out of sports

Hall of fame golfer Gary Player talks about the intersection of golf and politics, and weighs in on the upcoming Ryder Cup in Italy.

Read more at: https://www.cnbc.com/2023/09/18/gary-player-says-government-should-stay-out-of-sports.html

Morgan Stanley says buy these defensive growth stocks as economy disappoints

The firm conducted a defensive growth screen of stocks that it said have shown relative strength both year-to-date and more recently.

Read more at: https://www.cnbc.com/2023/09/18/morgan-stanley-says-buy-these-defensive-growth-stocks-as-economy-disappoints.html

Moderna Plunges After Pfizer Sees Just 24% Of Americans Seeking Covid Boosters

Shares of mRNA maker Moderna – better known as one of the main sponsors of the US open tournament which was won by the vocally unvaccinated Novak Djokovic who was barred from participating previously due to his unwillingness to succumb to Democrat and pharma lobby brainwashing – tumbled as much as 9%, the biggest intraday drop since Aug. 7 and making it the worst performer in the S&P500 and Nasda q 100, after rival drugmaker Pfizer laid out a forecast of how many Americans are likely to get newly approved Covid-19 vaccinations. And yes, Pfizer and BioNTech shares also slipped.

Speaking at a JPMorgan conference, Pfizer CFO David Denton said his company projected that just 24% of the US population recommended to take the shots will decide to roll up their sleeves, representing a slight increase in takeup from the previous round of boosters. As a reference, 70.5% of the world population has (forcibly) received at least one dose of a COVID-19 …

Read more at: https://www.zerohedge.com/markets/moderna-plunges-after-pfizer-sees-just-24-americans-seeking-covid-boosters

“How Do You Lose An F-35?”: US Military Can’t Find Stealth Jet After “Mishap”

Update (1456ET):

The F-35 is still missing. However, the flight tracking website Flightradar24 has revealed numerous aircraft have been searching an area north of North Charleston.

The US military is searching for a missing F-35B in South Carolina after the pilot ejected yesterday and the jet kept flying. If you have seen an F-35 in the woods, please contact the US Marines. pic.twitter.com/rpueqxuP0J

— Flightradar24 (@flightradar24) September 18, 2023

*   *   *

“How in the hell do you lose an F-35?” South Carolina Republican Representative Nancy Mace wrote on X Sunday night, adding, “How is there not a tracking device, and we’re asking the public to what, find a jet and turn it in?”

Now that I got that out of the way. How in the hell do you lose an F-35?

How is there not a tracking device and we’re asking the public to what, find a jet and turn it in?

— Rep. Nancy Mace (@RepNancyMace) September 18, 2023

Read more at: https://www.zerohedge.com/military/how-do-you-lose-f-35-us-military-cant-find-stealth-jet-after-mishap

Oil Surges To $95 As China Crude Stockpiles Hits A Record 1.14 Billion Barrels

After languishing a multi-year lows until the end of June in the low/mid-70s range after Biden drained over 270 million barrels from the SPR to a near record low in hopes of pushing the price of gasoline lower and achieving short-term political goals…

… oil has since surged by more than $20, or 32% since the low of $71.57 on June 28, its fastest ascent since the start of 2022, a rally that was sparked by Saudi Arabia’s decision to voluntarily cut an additional 1 million bpd of production in addition to the reductions agreed by the OPEC+ group…

Read more at: https://www.zerohedge.com/markets/oil-surges-95-china-crude-stockpiles-hits-record-114-billion-barrels

Myocarditis & COVID-19 Vaccines: How The CDC Missed A Safety Signal And Hid A Warning

Authored by Zachary Stieber via The Epoch Times,

COVID-19 vaccines cause heart inflammation, U.S. authorities now acknowledge. But after being warned in early 2021 about a “large number” of cases among healthy, young people in Israel after COVID-19 vaccination, authorities did not immediately alert the public while also failing to detect a safety signal that was present in the United States, an Epoch Times investigation has found.

Even after deaths from myocarditis – inflammation of the heart – were reported and myocarditis was designated as a likely side effect of the shots, U.S. officials kept recommending vaccination for virtually the entire populace.

That led to millions of young people …

Read more at: https://www.zerohedge.com/medical/myocarditis-covid-19-vaccines-how-cdc-missed-safety-signal-and-hid-warning

Post Office: Horizon scandal victims offered £600,000 compensation

The sum is for postmasters whose wrongful convictions for theft and false accounting have now been overturned.

Read more at: https://www.bbc.co.uk/news/business-66843548?at_medium=RSS&at_campaign=KARANGA

Rental prices rise at fastest rate for nine years, figures show

Estate agent Hamptons says the cost has risen more in the last year than it did in the four years to 2019.

Read more at: https://www.bbc.co.uk/news/business-66824019?at_medium=RSS&at_campaign=KARANGA

Ryanair and family locked in £165 check-in row

Damian Lloyd says his family had checked in for a flight in advance but Ryanair says they had “unchecked” themselves.

Read more at: https://www.bbc.co.uk/news/business-66580403?at_medium=RSS&at_campaign=KARANGA

India may see highest growth rate among top nations in next 10 years: Ray Dalio

Dalio, who was speaking at the All-In-Summit at Royce Hall on UCLA’s campus in Los Angeles, hoped that the country’s reforms under PM Modi would translate into economic growth

Read more at: https://economictimes.indiatimes.com/markets/commodities/news/india-may-see-highest-growth-rate-among-top-nations-in-next-10-years-ray-dalio/articleshow/103758960.cms

Bitcoin climbs above $27,000 for the first time since August

Other digital assets followed suit, with smaller tokens such as Solana, Litecoin and Bitcoin Cash rallying

Read more at: https://economictimes.indiatimes.com/markets/cryptocurrency/bitcoin-climbs-above-27000-for-the-first-time-since-august/articleshow/103764239.cms

Tech View: Nifty in consolidation mood, sideways trend likely. What traders should do on Wednesday

A decisive move below the immediate support of 10-day EMA at 19,940 levels could confirm further weakness for the near term, said Nagaraj Shetti of HDFC Securities.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-in-consolidation-mood-sideways-trend-likely-what-traders-should-do-on-wednesday/articleshow/103760628.cms

Economic Report: UAW auto strike looms large for inflation and economy

The UAW strike won’t hurt the U.S. in the short run, but a monthslong dispute could sting the economy and stall the Federal Reserve’s fight to tame inflation.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7266-24FE3A7684EE%7D&siteid=rss&rss=1

The Number One: U.S. News adds economics degree programs to its college rankings — and these 7 schools tied for No. 1

The U.S. News 2024 undergraduate college rankings also feature business and finance programs. Here are the schools whose programs made the top 10.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7266-76B0E5AB5E79%7D&siteid=rss&rss=1