Russia Slashes Export Price For Natural Gas For 2024 And Beyond

Russia has made a downward revision to its forecast for natural gas exports for 2024-2026, data from Russia’s economy ministry showed on Friday. According to the Economy Ministry, Russia is now forecasting that its natural gas exports to countries outside the ex-Soviet Union will be $434.6 per 1,000 cubic meters this year before falling substantially to $321.7 per 1,000 cubic meters next year. Further downward revisions were made in the forecasts for subsequent years, to $308.3 in 2025, and sub-$300 in 2026. The adjustments are lower than…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russia-Slashes-Export-Price-For-Natural-Gas-For-2024-And-Beyond.html

Biden Met With Central Asian Leaders To Discuss Trade And Development

It was a day 32 years in the making, but the American president finally met the assembled leaders of the five Central Asian republics on the sidelines of the 78th session of the United Nations General Assembly. According to the White House, President Biden welcomed discussion on strengthening the republics’ “sovereignty, resilience, and prosperity” while advancing human rights, and “committed to continued collaboration on border security, counterterrorism, and law enforcement issues.”  One of Washington’s…

Read more at: https://oilprice.com/Geopolitics/International/Biden-Met-With-Central-Asian-Leaders-To-Discuss-Trade-And-Development.html

Oil, Gas Drilling Slows To 19-Month Low In U.S.

The total number of active drilling rigs in the United States fell by 11 this week, after seeing a brief 9-rig rise last week, according to new data from Baker Hughes published Friday. It is the fewest number of active drilling rigs since February 4, 2022. The total rig count fell to 630 this week. So far this year, Baker Hughes has estimated a loss of 149 active drilling rigs. This week’s count is 445 fewer rigs than the rig count at the beginning of 2019 prior to the pandemic. The number of oil rigs fell by 8 this week to 507, down by 114…

Read more at: https://oilprice.com/Energy/Energy-General/Oil-Gas-Drilling-Slows-To-19-Month-Low-In-US.html

Anticipating A Rise In Natural Gas

Probably the most important thing that any trader can do is to keep an open mind. Preconceptions can be dangerous to your wealth. Making an objective analysis of the prospects of a stock or whatever you are trading, and then believing in the results of that analysis even if they contradict what you thought you would see, is not just good practice for scientists, it is also how traders keep their jobs. I have been reminded of that this week, when I did an analysis of an existing position, fully expecting to find that it was time to take a profit…

Read more at: https://oilprice.com/Energy/Gas-Prices/Anticipating-A-Rise-In-Natural-Gas.html

Detroit’s Auto Giants Reel As UAW Strikes Bite Hard

One week ago, when previewing the three events that are about to slam U.S. GDP in the tail end of the 3rd and the 4th quarter (including the return of student loan payments, the UAW strike and the government shutdown), Goldman calculated that reduced auto production from a potential UAW strike would reduce quarterly annualized growth by 0.05-0.10% for each week it lasted, if all three companies currently undergoing contract negotiations are impacted. “Those three companies—Ford, GM, and Stellantis—produce almost half of domestically-assembled…

Read more at: https://oilprice.com/Finance/the-Economy/Detroits-Auto-Giants-Reel-As-UAW-Strikes-Bite-Hard.html

Study Says Metals Mining Exposed Millions Of People To Toxic Waste

The beginning of the supply chain of the transition to green energy is not green at all, or rather, it is green with potentially dangerous concentrations of toxic waste. That’s the conclusion of a new study by the University of Lincoln, UK, which showed on Friday that metal mining has had an extensive impact of contamination on rivers and floodplains across the world, with an estimated 23 million people believed to be affected by potentially dangerous concentrations of toxic waste.   The authors of the study, published in the journal…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Study-Says-Metals-Mining-Exposed-Millions-Of-People-To-Toxic-Waste.html

Gas Production From Giant Groningen Field To Halt Completely On October 1

The giant Groningen gas field will close completely on October 1, 2023, the Council of Ministers meeting determined on Friday, sealing the fate of the field for good after a draft decision that was proposed in June. The Council also decided that all extraction locations for Groningen will be demolished in October 2024—ensuring that the fields won’t ever be able to be restarted after that date. Today was the last opportunity for government officials to raise concerns about the draft decision to stop all gas production from the controversial…

Read more at: https://oilprice.com/Energy/Natural-Gas/Gas-Production-From-Giant-Groningen-Field-To-Halt-Completely-On-October-1.html

World-First ChatNetZero Climate Action Bot Launched

The ChatNetZero bot, the world’s first data-driven chat bot tracking the net-zero pledges of companies and governments, was launched on Friday by a group of technology start-ups and scientists. The ChatNetZero bot was created by an international consortium of scientists from the Data-Driven Envirolab, Arboretica, and the Net Zero Tracker, with starter/seed funding provided by IKEA Foundation.  The bot is engineered to merge expert-level Net Zero domain knowledge with the capabilities of Large Language Models (LLMs), all while overcoming…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/World-First-ChatNetZero-Climate-Action-Bot-Launched.html

A Potentially Bearish Signal For Oil Markets

In an unexpected twist, given the plethora of bullish fundamentals, crude oil prices are on course for a decline this week due to profit-taking and renewed economic concerns sparked by the Fed’s recent comments. Russia’s sudden announcement of a ban on fuel exports added upward pressure to prices, but potential economic challenges in the West played a crucial role in keeping prices from surging. The Dance of Supply and Demand Brent and U.S. West Texas Intermediate (WTI) witnessed a fluctuating week, putting them in a position to post potentially…

Read more at: https://oilprice.com/Energy/Energy-General/A-Potentially-Bearish-Signal-For-Oil-Markets.html

The Shipping Fuel Of The Future

1. Cushing Premia Soar as Rock-Solid Demand and Low Stocks Put Pressure on WTI- The price of the US light sweet benchmark West Texas Intermediate, sold for delivery at Cushing, Oklahoma, saw a meteoric rise in physical premia as the oil market suspects one company of bidding its price up. – The Cushing price of WTI soared to a $1.3 per barrel premium vs. the next month this week, the highest since November 2022, indicating very tight supply in the heartland of the US oil industry. – Reportedly, it is Atlantic Trading and Marketing, the US trading…

Read more at: https://oilprice.com/Energy/Energy-General/The-Shipping-Fuel-Of-The-Future.html

The U.S. Navy Is Reviving A Top Secret Surveillance Network

Politics, Geopolitics & Conflict Poland’s state-run refiner is using strategic reserves to artificially keep diesel prices low. It’s selling diesel that it has imported at prices below what it paid, forcing private refiners to stop selling to avoid selling at a loss. The hefty subsidizing has pushed prices down between 8% and 12% while global prices rise and comes just before the October elections. Lower prices at the pump will aid the Law and Justice party that is currently in power. In response to rising threats from China over…

Read more at: https://oilprice.com/Energy/Energy-General/The-US-Navy-Is-Reviving-A-Top-Secret-Surveillance-Network.html

Nuclear Diplomacy In The Middle East

Washington’s push to shift the balance of relations in the Middle East, which hinges on the normalization of relations with Israel, continues to gain serious momentum, most recently this week with the Saudi Crown Prince’s interview with Fox News throwing a bone to Tel Aviv, but not without raising the Palestinian question. Saudi Crown Prince Mohammed bin Salman (MBS) told Fox on Wednesday that negotiations on normalization with Israel were getting closer every day, but the Palestinian issue needs to be resolved first. But what Riyadh…

Read more at: https://oilprice.com/Energy/Energy-General/Nuclear-Diplomacy-In-The-Middle-East.html

Libya’s Oil And Gas Rebound At Risk After Historic Storm

Oil-rich Libya has been fighting to get its oil industry back on track over the last decade, since the Arab Spring and subsequent political instability. Following the failed presidential elections of 2021, it finally appeared that Libya’s oil and gas industry was getting back on track. More foreign investment was coming in and several discoveries showed great promise for the country’s oil fields. However, a recent devastating storm has plunged into a humanitarian crisis, meaning its energy revenues and international support will be…

Read more at: https://oilprice.com/Energy/Crude-Oil/Libyas-Oil-And-Gas-Rebound-At-Risk-After-Historic-Storm.html

Nigeria Secures $13 Billion In Investment Pledges From Big Oil

Nigeria has secured a total of $13 billion in investment commitments in its oil and gas sector from major international energy companies, including ExxonMobil, Shell, and TotalEnergies, according to Olu Verheijen, the Special Adviser on Energy to Nigeria’s President Bola Tinubu. Verheijen and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have recently met with representatives of 15 oil and gas companies operating in Nigeria and have secured their commitment to invest in Nigerian oil and gas, the adviser said in a statement…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Nigeria-Secures-13-Billion-In-Investment-Pledges-From-Big-Oil.html

Russia’s Fuel Export Ban Pushes Oil Prices Higher

Russia’s recent decision to restrict its diesel and gasoline exports has pushed oil prices higher, countering economic concerns sparked by the Fed’s recent reiteration of its “higher for longer” interest rate policy.Friday, September 22nd, 2023Russia’s decision to ban fuel exports for an undetermined period boosted diesel prices again, with Europe seeing a whopping $45 per metric tonne day-to-day surge on its middle distillates. The rise in distillates also pushed oil prices higher, countering the downward pressure…

Read more at: https://oilprice.com/Energy/Energy-General/Russias-Fuel-Export-Ban-Pushes-Oil-Prices-Higher.html

Credit card losses are rising at the fastest pace since the Great Financial Crisis

Goldman Sachs predicts credit card losses will continue to climb through the end of 2024 or early 2025 for most issuers.

Read more at: https://www.cnbc.com/2023/09/22/credit-card-losses-are-rising-at-the-fastest-pace-since-the-great-financial-crisis.html

Sen. Menendez defiant after second corruption indictment: ‘Prosecutors did that the last time’

Sen. Robert Menendez on Friday vowed to remain in the Senate while he fights federal charges of bribery and extortion.

Read more at: https://www.cnbc.com/2023/09/22/sen-menendez-defiant-after-second-corruption-indictment.html

UAW targets 38 facilities at GM and Stellantis for expanded strikes, skips Ford

The strikes at the GM and Stellantis parts suppliers will add roughly 5,600 auto workers to the UAW’s ongoing strikes at the Detroit automakers.

Read more at: https://www.cnbc.com/2023/09/22/uaw-strike-expands-to-38-more-facilities-at-gm-and-stellantis.html

CDC advisors recommend Pfizer maternal RSV vaccine to protect infants

CDC Director Mandy Cohen still needs to sign off on that recommendation before mothers can receive Pfizer’s shot to protect their infants from RSV.

Read more at: https://www.cnbc.com/2023/09/22/rsv-vaccine-cdc-advisors-recommend-pfizer-maternal-shot-for-infants-.html

A key benchmark for smaller stocks could lose its 2023 gains, and that could mean trouble for bigger names

The Russell 2000 is little over 1% higher for 2023, which some analysts believe could be a signal of underlying market volatility.

Read more at: https://www.cnbc.com/2023/09/22/a-key-benchmark-for-smaller-stocks-could-lose-its-2023-gains.html

Two key Fed officials express support for keeping interest rates high

The central bank official said there’s still the possibility that the Fed will have to raise rates further if economic data doesn’t cooperate.

Read more at: https://www.cnbc.com/2023/09/22/feds-susan-collins-expresses-support-for-holding-interest-rates-high.html

UAW strikes could make 2023 the biggest year for labor activity in nearly four decades

The “summer of strikes” needs a new name — there is no sign of a slowdown in workers walking off the job.

Read more at: https://www.cnbc.com/2023/09/22/uaw-strikes-could-make-2023-biggest-year-for-labor-activity-in-decades.html

Corporations say they have a new No. 1 risk, and they’re spending big to defeat it

Covid and inflation dominated corporate fears in recent years, but now companies say government regulation has returned as the biggest threat to business.

Read more at: https://www.cnbc.com/2023/09/22/corporations-have-a-new-no-1-risk-theyre-spending-big-to-defeat-it.html

Sen. Bob Menendez of New Jersey and his wife charged with bribery

Sen. Bob Menendez of New Jersey is accused of accepting cash, gold, and a luxury car items to help protect a businessman from prosecution, an indictment says.

Read more at: https://www.cnbc.com/2023/09/22/sen-bob-menendez-of-new-jersey-wife-charged-with-bribery.html

Social Security benefits may be cut by at least 20% in the next decade. Here’s how Congress may fix that

Social Security benefits are at risk for a “crisis” of cuts in the next decade. Here’s what lawmakers say now about addressing the program’s funding woes.

Read more at: https://www.cnbc.com/2023/09/22/social-security-how-congress-may-fix-the-program-before-benefit-cuts.html

McDonald’s to raise royalty fees for new franchised restaurants for first time in nearly 30 years

McDonald’s franchise royalty fees for U.S. restaurants will rise from 4% to 5% for operators opening new locations.

Read more at: https://www.cnbc.com/2023/09/22/mcdonalds-to-raise-royalty-fees-for-new-franchised-restaurants.html

Apple CEO Tim Cook appears in New York to celebrate iPhone 15 release

Customers flocked to Apple stores Friday to get their hands on the new devices.

Read more at: https://www.cnbc.com/2023/09/22/apple-ceo-tim-cook-appears-in-new-york-to-celebrate-iphone-15-release.html

Stock market weakness could continue in week ahead as looming government shutdown adds to fears

Investors are growing worried an agreement to avoid a shutdown is unlikely with just a little over a week left to go before the end of the fiscal year in Washington.

Read more at: https://www.cnbc.com/2023/09/22/stock-market-weakness-could-continue-in-week-ahead-as-looming-government-shutdown-adds-to-fears.html

VP Kamala Harris Becomes Biden’s ‘Gun Czar’ As War On Second Amendment Goes In Overdrive

The Biden administration announced Thursday that Vice President Kamala Harris will oversee the first-ever White House Office of Gun Violence Prevention to reduce gun violence.

VP Harris will be in charge of enforcing current laws and collaborating with local officials to push anti-gun measures at the state level.

“Because you marched, organized, and voted, we passed the most significant gun safety legislation in 30 years. But let’s be clear — we have more work to do. Today, I am proud to share that I will oversee the first-ever White House Office of Gun Violence Prevention,” the vice president posted on X on Friday morning.

What if they lie on their gun application but have the DOJ as their defense team? pic.twitter.com/87eaAMi5SU

— Noah Fencebutt (@Noah_Fencebutt) September 22, 2023

Read more at: https://www.zerohedge.com/markets/vp-kamala-harris-becomes-bidens-gun-czar-war-second-amendment-goes-overdrive

Trudeau Unveils C$650M More For Ukraine Defense As Zelensky Addresses Parliament

After leaving Washington, President Zelensky is in Canada, where entering the House of Commons alongside PM Justin Trudeau he was greeted to loud cheers of “Slava Ukraini”.

Trudeau said this marked a “pivotal moment in history” and said of Zelensky there’s “no better inspiration”. Amid these flowery displays of admiration, Trudeau on Friday announced C$650 million more in military aid to Ukraine, set for a three-year period.

Trudeau met Zelensky at the airport. Via Canadian Press/APTrudeau also informed parliament, “We are providing funding to support mental health care in Ukraine,” after which the assembly erupted in applause.

He then went after Putin, who he said has broken international norms which “protect our freedom”. He added that “Putin governs with violence and oppression,” but tha …

Read more at: https://www.zerohedge.com/geopolitical/trudeau-unveils-c650m-more-ukraine-defense-zelensky-addresses-parliament

COVID-19 Virus Levels In Wastewater Have Dropped

Authored by Naveen Athrappully via The Epoch Times (emphasis ours),

Wastewater COVID levels have shown a decline in recent weeks while the number of hospital admissions due to infections have seen an uptick.

Take home COVID-19 self-testing kits provided by the District of Columbia government, which provides city residents four free tests per day, are seen in this illustration on Jan. 11, 2022. (Evelyn Hockstein/Reuters)The levels of SARS-CoV-2 virus, which causes the COVID-19 infection, has dropped by 5 percent in the two weeks between Aug. 30 and Sept. 13, according to data from Biobot Analytics, a platform that tracks COVID …

Read more at: https://www.zerohedge.com/covid-19/covid-19-virus-levels-wastewater-have-dropped

America Has Fallen, And It Can’t Get Up

Authored by Michael Shellenberger via Public,

During the Trump years, Democrats attacked Trump as cruel for separating migrant parents and children.

“A policy that separates young children from their parents isn’t a ‘deterrent.’ It’s unconscionable,”  said Biden in 2018. “A policy that traumatizes children isn’t a bargaining chip. It’s abhorrent.”

Two migrants drag another through barbed wire on the border (Getty Images)But Dr. Paul Wise, a pediatrician in charge of monitoring the treatment of migrant children in the custody of U.S. Customs and Border Prot …

Read more at: https://www.zerohedge.com/political/america-has-fallen-and-it-cant-get

Hope for mortgage rate cuts after Bank of England decision

Brokers predict there could be falls in the cost of mortgages after a string of interest rate rises ends.

Read more at: https://www.bbc.co.uk/news/business-66888955?at_medium=RSS&at_campaign=KARANGA

Amazon Prime Video content to start including ads next year

Amazon says its Prime Video users will see ads on TV shows and movies unless they pay extra.

Read more at: https://www.bbc.co.uk/news/business-66887717?at_medium=RSS&at_campaign=KARANGA

Microsoft’s new Call of Duty deal set for UK approval

The revised offer “opens the door” to the deal being cleared, the UK competition watchdog says.

Read more at: https://www.bbc.co.uk/news/business-66875075?at_medium=RSS&at_campaign=KARANGA

Nuvama Wealth Management’s stock market debut on September 26

​​The demerger of the wealth management business was completed following the approval from the National Company Law Tribunal (NCLT) on April 27. ​​The scheme of arrangement came into effect on May 18, 2023. Post the demerger, Nuvama plans to enhance focus on its key business segments and grow the client assets significantly over the next 5 years.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/nuvama-wealth-management-to-list-on-stock-exchanges-on-september-26/articleshow/103869916.cms

Bajaj Finance board to mull fundraising via preferential issue, QIP on October 5

Bajaj Finance had a liquidity buffer of Rs 12,704 crore as of June- end. The capital adequacy remained strong at 24.61% as of June 30, with tier-1 capital at 23.01%

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/bajaj-finance-board-to-mull-fundraising-via-preferential-issue-qip-on-october-5/articleshow/103871438.cms

Tech View: Nifty forms bear candle on weekly charts. What traders should do on Monday

The short-term trend of Nifty continues to be weak. Having placed near the crucial lower supports, there is a possibility of minor upside bounce from near 19550 levels by next week. The anticipated upside bounce could be short-lived and the market

Read more at: https://economictimes.indiatimes.com/markets/stocks/recos/tech-view-nifty-forms-long-bear-candle-on-weekly-charts-what-traders-should-do-on-monday/articleshow/103866632.cms

A 96-year-old federal judge is fighting to keep her job

As Americans debate whether President Joe Biden, 80, is too old to run for a second term, a 96-year-old federal appeals court judge is fighting to keep her job.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-726A-FC9EE28171A2%7D&siteid=rss&rss=1

Where Should I Retire?: I want mild weather and a city where goats and chickens are allowed — so where should I retire?

We’re a mixed-race family, so we need racial diversity/tolerance.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7CD2-3D8FC7FA4F38%7D&siteid=rss&rss=1

Brett Arends’s ROI: Nearly 20% of seniors on Medicare are ‘underinsured’ — and Medicare Advantage is no better

A stunning number of seniors are going without the medical care they need because of the gaps and coinsurance costs of Medicare.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-725F-70E25C55D6BE%7D&siteid=rss&rss=1