Fuel Production Sees Unprecedented Efficiency With New Discovery

Washington State University researchers discovered previously unknown self-sustained oscillations in the Fischer Tropsch process. They found that unlike many catalytic reactions which have one steady state, this reaction periodically moves back and forth from a high to a low activity state The fundamental discovery about the Fischer Tropsch process, a catalytic reaction used in industry to convert coal, natural gas or biomass to liquid fuels, could someday allow for more efficient fuel production. The discovery, reported in Science, means that…

Read more at: https://oilprice.com/Energy/Energy-General/Fuel-Production-Sees-Unprecedented-Efficiency-With-New-Discovery.html

Crude Prices Begin Retreat After Monday’s Surge

Crude oil prices have begun to ease up after a nearly $4 per barrel spike on Monday following the Hamas attack on Israel and escalating tensions in the Middle East. The price of Brent crude oil shot up to $88.15 per barrel on Monday before retreating to $87.66 by Tuesday afternoon—but still substantially below the $94.36 per barrel that was witnessed on September 27. WTI prices were also starting to ease on Tuesday, trading at $85.95 (-0.51%) at 2:51 pm ET. Oil prices rose on Monday after the Hamas attack on Israel over the weekend that spooked…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Crude-Prices-Begin-Retreat-After-Mondays-Surge.html

Chinese Auto Giant BYD Sets Sights On Uzbekistan Expansion

China and Uzbekistan are making progress on an Uzbek-based joint venture to produce electric and hybrid vehicles. While all the pieces appear to be in place, a firm production timetable has yet to be established. The venture involves BYD Auto, the Chinese entity that surpassed Tesla in 2022 as the leading seller of electric vehicles, and Uzavtosanoat JSC. The construction of an assembly facility in Uzbekistan’s Jizzakh Region is well underway. BYD CEO Wang Chuanfu traveled to Tashkent for the JV’s signing ceremony: the agreement “provides…

Read more at: https://oilprice.com/Geopolitics/International/Chinese-Auto-Giant-BYD-Sets-Sights-On-Uzbekistan-Expansion.html

Copper Prices Decline As Global Renewable Hopes Fall Short

Via Metal Miner Although some moved sideways with more modest declines, all components within the overall index saw copper prices trade lower during the month. As a result, the Copper Monthly Metals Index (MMI) declined 2.34% from September to October. Copper Prices Break Below Sideways Range, Create Lower Low After edging lower throughout September, copper prices appeared increasingly bearish by early October. Indeed, prices fell below the $8,000/mt mark by Oct. 4 for the first time since May. A new lower low followed shortly after on Oct. 5.…

Read more at: https://oilprice.com/Metals/Commodities/Copper-Prices-Decline-As-Global-Renewable-Hopes-Fall-Short.html

U.S. Oil Exports Hit Record In H1: EIA

U.S. crude oil exports hit record highs in the first half of the year, averaging 3.99 million bpd—up nearly 20% from the first half of 2022, the EIA said on Tuesday. The largest share of U.S. crude oil that is exported made its way to Europe, at 1.75 million barrels per day—mostly to the Netherlands and the United Kingdom. Asia was the second-largest destination 1.68 million bpd, with the largest portion heading to China and South Korea. Despite its record, the United States remained a net crude oil importer in the first half…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Oil-Exports-Hit-Record-In-H1-EIA.html

El Salvador Taps Geothermal Energy In New Bitcoin Mining Project

Today, Volcano Energy and Luxor Technology Corporation have officially unveiled Lava Pool, El Salvador’s inaugural Bitcoin mining pool powered by abundant renewable geothermal energy. Volcano Energy, a unique public-private partnership committed to contributing 23% of its net income to the Salvadoran government, will exclusively mine blocks through Lava Pool.  “Lava Pool is another example of El Salvador’s first mover advantage as a nation-state in the Bitcoin ecosystem,” said Volcano Energy’s CSO, Gerson Martinez. …

Read more at: https://oilprice.com/Alternative-Energy/Geothermal-Energy/El-Salvador-Taps-Geothermal-Energy-In-New-Bitcoin-Mining-Project.html

Tesla Vehicles Now Priced To Compete With Traditional ICE Vehicles

Since the beginning of the year we have been closely monitoring Tesla’s strategy of using price cuts to stoke demand. Through most of 2023, the strategy has worked, but Tesla’s most recent round of price cuts, putting their vehicle prices close to those of conventional ICE vehicles, is catching the eyes of not only customers, but company investors.  “At $38,990, the base Model 3 sedan now costs $8,700 less than the average amount paid for a car or truck in the US,” Bloomberg pointed out this week. And as we have noted this year,…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Tesla-Vehicles-Now-Priced-To-Compete-With-Traditional-ICE-Vehicles.html

Suspected Sabotage In Probe Into Baltic Natural Gas Pipeline Leak

Ongoing investigations into a leak that halted natural gas supply between Finland and Estonia this weekend proceed with the assumption that it could have been sabotage, sources with knowledge of the matter told Bloomberg on Tuesday. The offshore Balticconnector pipeline that transports natural gas between Finland to Estonia was shut down because of a suspected leak that occurred in the early hours of October 8. The 77-km pipeline carries natural gas from Finland, where there is an LNG import terminal, to Estonia. The piece of…

Read more at: https://oilprice.com/Energy/Natural-Gas/Suspected-Sabotage-In-Probe-Into-Baltic-Natural-Gas-Pipeline-Leak.html

The Oil Industry And OPEC Will Attend COP28 Climate Summit

Representatives from the oil industry and from OPEC will attend the COP28 climate summit in Dubai next month, OPEC Secretary General Haitham Al Ghais said on Tuesday. “The oil industry will be at COP and we will be there,” Al Ghais said at an energy event in Fujairah, in the United Arab Emirates (UAE), as carried by Reuters. OPEC’s secretary general will also attend the climate summit, he said. “I hope all voices will be at the table at COP28,” Al Ghais said. COP28 President-Designate is Sultan Ahmed Al Jaber,…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/The-Oil-Industry-And-OPEC-Will-Attend-COP28-Climate-Summit.html

Uncertainty Spikes In Oil Markets As Israel Goes To War With Hamas

Oil prices have been buoyed by the Hamas attack on Israel, with a heightened geopolitical risk premium in markets and growing concerns that the U.S. will double efforts to stem Iranian oil flows. Despite the price rise, uncertainty remains in oil markets as to exactly how supply and demand will be influenced.Chart of the Week- The double whammy of peak driving season being over and high crude prices have brought US gasoline demand much lower than it seasonally should be, shedding some 1 million b/d in demand since the July peak.- Supplies of finished…

Read more at: https://oilprice.com/Energy/Energy-General/Uncertainty-Spikes-In-Oil-Markets-As-Israel-Goes-To-War-With-Hamas.html

Investors Dump Renewable Energy Funds At A Record Pace

Global renewable energy funds saw record outflows of money in the third quarter of 2023 as stocks of wind and solar developers and suppliers crashed amid rising costs, higher interest rates, and supply-chain challenges. Renewable energy exchange-traded funds (ETFs), tracking the performance of clean energy companies, suffered a total of $1.4 billion of outflows in the third quarter, the highest outflows of any previous quarter, according to data from LSEG Lipper cited by Reuters. The record outflows between July and September only partially offset…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Investors-Dump-Renewable-Energy-Funds-At-A-Record-Pace.html

OPEC Warns Net Zero Push Endangers Global Energy Security

Climate action to reach net zero undermines investment in the oil sector and jeopardizes global energy security, warned OPEC. General secretary Haitham al-Ghais took aim at forecasters predicting a drop-off in oil demand this decade, with the cartel engaged in a protracted war of words with the International Energy Agency over investments in oil and gas projects. The climate agency has urged countries to stop new fossil fuel investments to reach net zero emissions by 2050, and to achieve the goals of Paris Agreement of sustaining global temperature…

Read more at: https://oilprice.com/Energy/Crude-Oil/OPEC-Warns-Net-Zero-Push-Endangers-Global-Energy-Security.html

World’s Biggest Offshore Wind Farm Starts Producing Power

The world’s largest offshore wind farm, the Dogger Bank Wind Farm in UK waters, has achieved first power and started sending electricity to the UK national grid, the developers of the project said on Tuesday, hailing the major milestone at the offshore wind farm whose construction continues. Dogger Bank Wind Farm, with a total capacity of 3.6 gigawatts (GW), is being constructed in UK waters 130 kilometers (81 miles) off the coast of Yorkshire and in three 1.2 GW phases known as Dogger Bank A, B, and C. The project developers are UK’s…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Worlds-Biggest-Offshore-Wind-Farm-Starts-Producing-Power.html

Saudi Arabia To Deliver Full Oil Volumes To North Asia In November

Saudi Aramco, the world’s largest crude oil exporter, has told at least four refiners in North Asia that it would supply them with the full contractual volumes they have nominated for November, Reuters reported on Tuesday, citing sources familiar with the plans. “The supply and demand for Saudi oil seem stable at this moment, despite the high prices,” one of the sources told Reuters.     Aramco will thus ship the full crude oil volumes that at least four customers in North Asia have asked for under their term contracts.…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Saudi-Arabia-To-Deliver-Full-Oil-Volumes-To-North-Asia-In-November.html

How The Hamas Attack On Israel Could Derail Egypt’s LNG Export Plans

Egypt is evaluating whether the stoppage of gas production at an Israeli field following the Hamas attack would scupper its plans to resume LNG exports to Europe as planned, anonymous officials have told Bloomberg. Egypt, which aims to become a regional gas hub, has been exporting LNG to Europe from its terminals on the Mediterranean with gas from domestic production and from fields offshore Israel. However, Egypt did not export any LNG in June, August, and September, due to high domestic power demand in the summer months. Last week, Egypt’s…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/How-The-Hamas-Attack-On-Israel-Could-Derail-Egypts-LNG-Export-Plans.html

Dow adds more than 100 points to notch third positive day, as falling Treasury yields lift stocks: Live updates

Stocks rose Tuesday, boosted by a drop in Treasury yields as investors assessed the geopolitical risks of the Israel-Hamas war.

Read more at: https://www.cnbc.com/2023/10/09/stock-market-today-live-updates.html

Israel-Hamas war live updates: Biden confirms Americans are being held hostage, calls Hamas attack ‘sheer evil’

The military wing of Hamas on Tuesday says it launched a volley of rockets toward Ashkelon “in response to the displacement of civilians.”

Read more at: https://www.cnbc.com/2023/10/10/israel-hamas-gaza-live-updates.html

Caroline Ellison took almost 30 seconds to recognize ex-boyfriend Sam Bankman-Fried as testimony begins

Caroline Ellison, the former head of Sam Bankman-Fried’s crypto hedge fund, took the stand Tuesday as the prosecution’s star witness against the FTX founder

Read more at: https://www.cnbc.com/2023/10/10/caroline-ellison-took-almost-30-seconds-to-recognize-ex-boyfriend-sbf.html

Europe warns Elon Musk about misinformation and violence on X , formerly Twitter, related to Hamas-Israel conflict

Thierry Breton, the European commissioner for the internal market, warns Elon Musk about disinformation on X related to the Israel-Hamas conflict.

Read more at: https://www.cnbc.com/2023/10/10/elon-musk-warned-about-misinformation-violent-content-on-x-by-eu.html

There’s a ‘good likelihood’ that the market bottom is in, Fundstrat says

“There’s a good likelihood that Equity market lows could be in place after the constructive bounce in recent days,” wrote Mark Newton of Fundstrat.

Read more at: https://www.cnbc.com/2023/10/10/theres-a-good-likelihood-that-the-market-bottom-is-in-fundstrat-says.html

Biden condemns ‘terror and bloodshed’ by Hamas, says the U.S. will continue to support Israel

President Joe Biden denounced Hamas’ attacks as terrorism and said the United States stands with Israel.

Read more at: https://www.cnbc.com/2023/10/10/biden-condemns-terror-and-bloodshed-by-hamas-vows-to-support-israel.html

Apple’s latest iPhone software lets you leave a FaceTime video voicemail. Here’s how to do it

A new feature on iOS 17 allows you to leave a video message if someone doesn’t answer your FaceTime.

Read more at: https://www.cnbc.com/2023/10/10/how-to-leave-a-facetime-video-message.html

California may build solar panels alongside highways to power homes

The state’s transportation and energy officials have until the end of 2025 to assess whether highway-side land is suitable for renewable energy sites.

Read more at: https://www.cnbc.com/2023/10/10/california-may-build-solar-panels-alongside-highways.html

Utah accuses TikTok of misleading users about safety, China connection in new lawsuit

Utah Governor Spencer Cox invoked research about social media’s impact on teens, including a recent U.S. Surgeon General report, in announcing the lawsuit.

Read more at: https://www.cnbc.com/2023/10/10/utah-sues-tiktok-for-allegedly-misleading-users-about-safety-china.html

Bank of England warns U.S. tech stock valuations may be out of whack

British central bank says valuations for risk assets, and technology stocks in particular, look ‘stretched’

Read more at: https://www.cnbc.com/2023/10/10/bank-of-england-warns-us-tech-stock-valuations-may-be-out-of-whack.html

The number of people with at least $100 million has doubled since 2003

Low interest rates fueled the growth in asset prices, leading to a rapid expansion in the number of centi-millionaires.

Read more at: https://www.cnbc.com/2023/10/10/number-of-people-with-100-million-has-doubled-since-2003.html

Have tickets to the Taylor Swift movie this weekend? Get ready for a dance party

Audiences attending Taylor Swift’s The Eras Tour concert film this weekend are permitted to sing and dance in the auditoriums.

Read more at: https://www.cnbc.com/2023/10/10/taylor-swift-eras-tour-film-what-to-expect.html

Caroline Ellison testifies Sam Bankman-Fried directed her to commit crimes: 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, Kyla Curley of StoneTurn discusses the impact of Sam Bankman-Fried’s trial on the industry.

Read more at: https://www.cnbc.com/video/2023/10/10/caroline-ellison-testifies-sam-bankman-fried-directed-her-crimes-crypto-world.html

The Many Flavors Of Doom

Authored by Charles Hugh Smith via OfTwoMinds blog,

Change the incentives and feedback loops and you change the flavor of Doom we’re about to be served.

There are many flavors of Doom, and new flavors are being introduced at a dizzying rate. We’ve gone from chocolate and vanilla (thermonuclear war and mass starvation) to if not quite 31 flavors, certainly a colorful array of options.

Climate change has been quite the rage (ahem), but war is rapidly increasing its share of the doom mindspace.

The competition includes both ends of the spectrum: Doom Porn and Empty Optimism. On the Doom Porn end, there’s the crowd favorites (Zombie Apocalypse, nuclear war Apocalypse, climate Apocalypse, etc.) which feature the complete collapse of human civilization, and on the other end, the magical thinking of Empty Optimism, which features fantasies of everyone flitting about in electrified car-helicopters and abundance so cheap that it’s basically free to the entire world.

The reason why the flavors of Doom are enduringly popular is human history offers a plentitude of examples of collapse and very few of abundance so cheap that it’s basically free. Civilizations tend to expand up to the carrying capacity of available resources, and then something or other slides down the slippery slope and resources are no longer available at prices that are affordable to the masses.

I’ve often recommended books exploring the dyna …

Read more at: https://www.zerohedge.com/personal-finance/many-flavors-doom

“Humanity Really Has Hit Rock Bottom” – PJW Slams Both Sides’ Reactions To Israeli Attacks: “They’re All Malevolent Bastards”

“Paul Joseph Watson (PJW) aims his acerbic eye at the recent conflict between Israel and Hamas, focusing on the brutal attacks by Hamas militants on innocent civilians, including children and partygoers – individuals who had no connection to the ongoing Israel-Palestine conflict.

“Hamas’s assault on Israel was characterized by a series of brutal attacks against innocent civilians, young people, and children just trying to live their lives.”

PJW then contrasts those scenes of horror with the shocking scenes of joy and celebration in major European cities and refugee camps in Greece following the attacks who were openly “gloating over terrorist attacks.”

“Supporters in London reveling in the carnage, the same in Birmingham, similar scenes in America, turning violent migrants at a refugee camp in Greece waiting to be dispersed throughout Europe celebrating the horror.”

PJW makes a particularly striking point, noting that, “if nothing else extinguishes the deadly myth of diversity being our strength will this?”

Read more at: https://www.zerohedge.com/geopolitical/humanity-really-has-hit-rock-bottom-pjw-blasts-both-sides-reactions-israeli-attacks

Caroline Ellison Says Sam Bankman-Fried “Directed” Her To Commit Crimes

By Turner Wright of Cointelegraph

Former FTX CEO Sam Bankman-Fried watched from the defense table as his former business associate and girlfriend, Caroline Ellison, testified at his criminal trial.

According to reports from the courtroom on Oct. 10, Ellison admitted to fraud during her time at Alameda under Bankman-Fried’s direction. The former Alameda CEO reportedly placed the blame for misuse of FTX user funds directly on SBF, claiming he “set up the systems” leading to Alameda taking roughly $14 billion from the exchange.

AUSA: What was his involvement in the crimes?
Ellison: He was the head of Alameda then FTX. He directed me to commit these crimes.
AUSA: What makes you guilty?
Ellison: Alameda took several billions of dollars from FTX customers and used it for investments.

— Inner City Press (@innercitypress) October 10, 2023

“Alameda took several billions of dollars from FTX customers and used it for investments,” said Ellison, according to reports. “I sent balance sheets that made Alameda look less risky than it was.”

Ellison met Bankman-Fried through their jobs …

Read more at: https://www.zerohedge.com/markets/caroline-ellison-says-sam-bankman-fried-directed-her-commit-crimes

NY Fed Survey Finds Surge In Household Delinquency Expectations, Worst Since April 2020 Covid Crash

After several months of declines in the 1-Year inflation expectation as tracked by the NY Fed’s monthly consumer survey, September saw the second consecutive increase in this series which traditionally is also a proxy for the price of oil (which recently hit a 2023 high before tumbling, before spiking again on the latest war in Israel), however this was offset by a small decline in 5 year inflation expectations, which traded places with the 3 year which in turn rose modestly. However, the most concerning observations was that despite a modest improvement in household income growth expectations, there was an unexpected spike in delinquency expectations as US household appear to have hit a brick wall on how much debt they can pay down in the immediate future

Here are the details: as shown in the chart below, inflation expectations at the one-year horizon were every so slightly higher at 3.67% in Sept. from the previous month’s 3.63%; three-year-ahead inflation expectations also reversed higher and after falling from 2.91% in July to 2.79% in August, they then bounced all the way to 3.00% in September. Finally, 5-year-ahead inflation expectations declined from 3.00% to 2.84%, the lowest since May 2023.

Read more at: https://www.zerohedge.com/economics/ny-fed-survey-finds-surge-household-delinquency-expectations-worst-april-2020-covid-crash

IMF defends gloomy UK forecast after government criticism

The influential group rejects suggestions that its latest assessment of the UK economy is too downbeat.

Read more at: https://www.bbc.co.uk/news/business-67056069?at_medium=RSS&at_campaign=KARANGA

People struggle to leave Israel as flights book up

One travel agent says he has been “inundated” with calls from people trying to get flights back to the UK.

Read more at: https://www.bbc.co.uk/news/business-67065516?at_medium=RSS&at_campaign=KARANGA

Sam Bankman-Fried faces ex-girlfriend Caroline Ellison in court

The testimony of his former partner, who was head of Alameda Research, has been much anticipated.

Read more at: https://www.bbc.co.uk/news/business-67068611?at_medium=RSS&at_campaign=KARANGA

How Prestige, Airtel and Escorts are looking on charts for Wednesday

Sectorally, buying was seen in realty, metal, telecom, public sector, and banking stocks

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/breakout-stocks-how-prestige-estates-bharti-airtel-and-escorts-are-looking-on-charts-for-wednesdays-trade/articleshow/104317459.cms

Nifty starts forming higher bottom. How to trade next

Nifty started to form a higher bottom and also breached the previous swing high confirming the reversal. The momentum indicator still has a negative crossover however it is likely to align with the price action soon, chart readers said.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-starts-forming-higher-bottom-what-traders-should-do-on-wednesday/articleshow/104317907.cms

5 FMCG stocks hit 52-week high, delivering up to 29% gains in a month

In Tuesday’s trading session, the benchmark index Sensex saw a rise of approximately 567 points, concluding at 66,079. Within this upward trend, five stocks listed on the BSE FMCG index reached their highest prices in the past 52 weeks. The 52-week high is of significant importance to specific traders and investors as it acts as a key technical indicator for evaluating a stock’s current value and predicting potential price changes. This value represents the highest price at which a stock has traded over the past year.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/5-fmcg-stocks-hit-52-week-high-delivering-up-to-29-gains-in-a-month/new-highs/slideshow/104317781.cms

Futures Movers: Oil prices mark a modest pullback as investors monitor Israel-Gaza war

Oil futures finish lower on Tuesday, consolidating after a surge the previous session fueled by the weekend attack on Israel by Hamas.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-727A-0C97AC971AAA%7D&siteid=rss&rss=1

The Ratings Game: Unity has lost developer trust, but Wall Street thinks CEO’s exit can help rebuild goodwill

Wall Street appeared to breathe a sigh of relief as Unity’s unpopular CEO, John Riccitellio, left the company.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-727A-AD3A5BCFAD87%7D&siteid=rss&rss=1

Biden to ask Congress for ‘urgent action’ to help Israel after ‘sheer evil’ Hamas attacks

President Joe Biden on Tuesday said he would ask Congress to take “urgent action” to aid Israel after what he called “sheer evil” attacks by Hamas.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-727A-A0F8B4288566%7D&siteid=rss&rss=1