Will This Crucial Hydrogen Corridor Become Reality?

Could the Mediterranean Sea become the new energy hub to strengthen energy security and accelerate the energy transition in Europe? Considering the current geopolitical and geoeconomic scenario, this is a matter of the utmost importance. The issue has also recently been discussed in an Economist editorial depicting the Mediterranean region as a future powerhouse of green hydrogen and carbon-free revolution. The answer to the many questions arising from this topic may be coming from the recent agreement between the Italian and German governments…

Read more at: https://oilprice.com/Alternative-Energy/Renewable-Energy/Will-This-Crucial-Hydrogen-Corridor-Become-Reality.html

OPEC+ Output Cuts May Have No Effect Unless Extended Further

Analysts and traders surveyed by Reuters on Monday indicated that OPEC+ 2.2 million barrel-per-day production cuts in the first-quarter of the New Year will be counterbalanced by a potential supply surplus, signaling a bearish outlook for oil prices.  OPEC+ output cut announcements resulting from a November 30 meeting failed to move the needle on oil prices, prompting the Saudi Energy Minister to criticize commentators for failing to understand the deal. It also prompted an urgent trip for Russian President Vladimir Putin to Saudi Arabia,…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/OPEC-Output-Cuts-May-Have-No-Effect-Unless-Extended-Further.html

Another Major Milestone in the Race for Nuclear Fusion

In the latest step to advance nuclear fusion technology, the world’s biggest reactor has just opened for business in Japan. This follows a huge influx in investment from the private sector, as companies and academic institutions around the globe race to achieve commercial-scale nuclear fusion. Things are looking more optimistic following a breakthrough last year and another in the summer, after decades of failed attempts. The technology is also gaining government backing, with the U.S. announcing a global nuclear fusion strategy at the COP28…

Read more at: https://oilprice.com/Alternative-Energy/Nuclear-Power/Another-Major-Milestone-in-the-Race-for-Nuclear-Fusion.html

COP28 Comes to its Crescendo in Drive for Fossil Phase-out

The UN’s COP28 conclave, based in an enormous exhibition centre in Dubai Expo City, with small daily protests permitted on the premises, is coming to a denouement. Many of the almost 200 nations in the negotiations, and the environmental groups observing the negotiations, are pleading for language in the final ‘Global Stocktake’ document – the primary document of the summit – that calls for a clear end to fossil fuels, while big players appear to be jockeying for position and control over the outcome. It opened last…

Read more at: https://oilprice.com/Energy/Energy-General/COP28-Comes-to-its-Crescendo-in-Drive-for-Fossil-Phase-out.html

Russia, Iran To Benefit as Venezuelan Crude Discount Narrows

Russia and Iran could see higher revenues from oil as sellers raise prices to China as a result of competition from temporary easing of sanctions on Venezuelan oil, Reuters reports.  With the temporary lifting of U.S. sanctions on Venezuela, which remain in question amid intensifying efforts to annex oil-rich Essequibo from Guyana, Venezuela oil prices have risen, creating more competition in the market. At the same time, Chinese teapot refineries, which are large buyers of discounted, sanctioned Russian and Iranian crude, are seeing…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russia-Iran-To-Benefit-as-Venezuelan-Crude-Discount-Narrows.html

The Battle for Australia’s Lithium Reserves

Australia holds one of the biggest lithium reserves in the world and will be a key mining area for the green transition. The country is no stranger to mining, with major gold, nickel, and iron ore reserves already contributing to the green energy and clean technology industries. And there are several mining billionaires operating in Australia, that want to keep mining activities Australian-owned by deterring major multinationals from entering the market. However, this may not be the only concern for Australia, as new U.S. restrictions on metals…

Read more at: https://oilprice.com/Energy/Energy-General/The-Battle-for-Australias-Lithium-Reserves.html

COP28 Summit Approves Proposal to Hold COP29 in Azerbaijan

As the COP28 conference draws to an end, the climate summit in Dubai has not only chosen its next host but also stirred heated discussions on fossil fuels in its final declaration. The spotlight is now on the South Caucasus nation of Azerbaijan, as COP28 approved the proposal for the next summit to be hosted there. This decision came after Azerbaijan secured the support of Eastern European nations on December 9. The breakthrough followed a crucial agreement with Armenia, Azerbaijan’s neighbor and historical adversary, ensuring no veto would be…

Read more at: https://oilprice.com/Energy/Energy-General/COP28-Summit-Approves-Proposal-to-Hold-COP29-in-Azerbaijan.html

This Country is About To Export its First Ever Crude Oil

Niger aims to start exporting its first crude oil in January, the military leader of the African country, Abdourahamane Tiani, has said on state television. The commercial stage of the exports is expected to start in January from the Benin port of Cotonou, Tiani said, as quoted by Reuters. General Abdourahamane Tiani, the commander of Niger’s presidential guard, was appointed head of state at the end of July by a governing council set up by military forces that ousted Niger’s President Mohammed Bazoum. A group of military…

Read more at: https://oilprice.com/Energy/Crude-Oil/This-Country-is-About-To-Export-its-First-Ever-Crude-Oil.html

U.S. Natural Gas Prices Tumble 10% on Mild Weather

The benchmark U.S. natural gas prices slumped by more than 10% early on Monday amid high inventories and forecasts of warmer-than-usual weather suggesting very light demand for space heating. As of 9:24 a.m. ET on Monday, the front-month futures at the Henry Hub, the American benchmark, were trading down by 10.50% at $2.305 per million British thermal units (MMBtu). Prices are now at their lowest level since the start of the summer.   “The weekend data failed to trend any colder with the setup through Dec. 26 suggesting warmer than normal…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Natural-Gas-Prices-Tumble-10-on-Mild-Weather.html

Is China Undermining Putin’s Plan for Higher Oil Prices?

Having had to make his travel plans even more furtively than usual – given the International Criminal Court arrest warrant out for him due to war crimes in Ukraine – Russian President Vladimir Putin arrived in the Middle East last week looking like a man with more questions than answers. Perhaps in some alternate universe, his troops had overrun Ukraine in a month, enabling Russia to threaten the U.S.-led Western NATO alliance with further military incursions into the Baltic States, Poland, and Romania to begin with, as they had been supposed to…

Read more at: https://oilprice.com/Energy/Energy-General/Is-China-Undermining-Putins-Plan-for-Higher-Oil-Prices.html

Latest COP28 Draft References “Reducing” Fossil Fuel Consumption and Production

As leaders and negotiators are racing to adopt a final declaration from the COP28 climate summit in Dubai, the fossil fuel debate is at the center again, with the latest draft circulated on Monday containing language about “reducing both consumption and production of fossil fuels,” but stopping short of any phase-out. The draft, which has not been approved yet, was put forward by the COP28 President, Sultan Al Jaber, who is also the chief executive of national oil company ADNOC. Al Jaber and the UAE presidency of the climate summit…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Latest-COP28-Draft-References-Reducing-Fossil-Fuel-Consumption-and-Production.html

Occidental to Buy Permian Oil Producer CrownRock in $12-Billion Deal

Occidental Petroleum will buy Permian oil and gas producer CrownRock for cash and stock in a deal valued at around $12 billion, including debt, Oxy said on Monday announcing the latest large acquisition in the U.S. oil industry. Reports of a potential Occidental- CrownRock transaction emerged at the end of last month when the Wall Street Journal reported that a deal would be valued at more than $10 billion including debt. Occidental confirmed those reports today with the news that it has entered into a purchase agreement to buy CrownRock, whose…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Occidental-to-Buy-Permian-Oil-Producer-CrownRock-in-12-Billion-Deal.html

Tense Negotiations Over Fossil Fuel Phase Down as COP28 Nears End

With just one day left of the COP28 climate summit in Dubai, negotiators and delegates were still discussing on Monday a possible agreement on phasing down fossil fuels and scaling up finance for mitigation of climate change. The COP28 President, Sultan Al Jaber, who is also chief executive of national oil company ADNOC, is pushing for a deal to include in the final statement – for the first time – a commitment to cut the use of fossil fuels in the future. “We need to find consensus and common ground on fossil fuels, including…

Read more at: https://oilprice.com/Energy/Energy-General/Tense-Negotiations-Over-Fossil-Fuel-Phase-Down-as-COP28-Nears-End.html

India to Boost Oil Refining Capacity by 1 Million Bpd a Year Until 2028

India, the world’s third-largest crude oil importer, expects to raise its refining capacity by around 1.12 million barrels per day (bpd) each year until 2028, according to India’s junior oil minister Rameswar Teli. Total Indian refining capacity is expected to increase by 22% in five years from the current 254 million metric tons per year, which are equal to around 5.8 million bpd, Teli told lawmakers in a written statement carried by Reuters.                 Crude processing capacity is…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/India-to-Boost-Oil-Refining-Capacity-by-1-Million-Bpd-a-Year-Until-2028.html

Chinese Demand for Saudi Crude Slumps to 5-Month Low

Demand for Saudi crude at Chinese refiners is at its lowest since August after the world’s top crude exporter set the price of its oil for January at levels higher than the market was expecting, trading sources with knowledge of the matter told Reuters on Monday.     China’s refiners are estimated to have nominated 40 million barrels of Saudi crude for loading in January, compared with around 46 million barrels for December—the lowest total nominations from Chinese buyers since August this year, according to Reuters’…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Chinese-Demand-for-Saudi-Crude-Slumps-to-5-Month-Low.html

UAW files unfair labor practice charges against Hyundai, Honda and VW, accusing them of union busting

The UAW has filed unfair labor practice charges with the National Labor Relations Board against Honda, Hyundai and Volkswagen, the union said Monday.

Read more at: https://www.cnbc.com/2023/12/11/uaw-files-unfair-labor-practice-charges-against-hyundai-honda-vw.html

Bitcoin slides 7% to under $41,000 in volatile trading following early December rally

Bitcoin fell Monday as investors took profits after its December climb.

Read more at: https://www.cnbc.com/2023/12/11/bitcoin-shows-wild-side-again-dropping-3000-in-minutes-over-weekend.html

Regulators caught Wells Fargo, other banks in probe over mortgage pricing discrimination

Wells Fargo, until recently the biggest player in U.S. mortgages, has repeatedly felt regulators’ wrath over missteps involving home loans.

Read more at: https://www.cnbc.com/2023/12/11/wells-fargo-mortgage-lenders-probed-over-racial-discrimination.html

Evercore ISI sees big pullback in first half of 2024 as recession ‘materializes’

The firm thinks stocks will first pull back to below 4,000 before rallying again to end the year at 4,750.

Read more at: https://www.cnbc.com/2023/12/11/evercore-isi-sees-big-pullback-in-first-half-of-2024-as-recession-materializes.html

More than 15% of teens say they’re on YouTube or TikTok ‘almost constantly’

A new Pew Research Center study finds that more than 15% of teens say they’re on YouTube or TikTok “almost constantly.”

Read more at: https://www.cnbc.com/2023/12/11/more-than-15percent-of-teens-on-youtube-or-tiktok-almost-constantly.html

Apple reportedly plans big overhaul to iPad family to make it less confusing

Apple is working on cleaning up its slate of iPads to make the product options less confusing for customers, according to a Bloomberg report.

Read more at: https://www.cnbc.com/2023/12/11/apple-ipad-pro-ipad-air-and-ipad-mini-refresh-coming-next-year-report.html

Apple releases new Journal app as part of its latest iPhone update. Here’s what it’s like

The journal app is one example of how Apple continues to invest in new iPhone features on a yearly basis.

Read more at: https://www.cnbc.com/2023/12/11/apple-ios-17point2-released-with-new-journal-app-heres-whats-new.html

Microsoft partners with labor groups to quell concerns about AI taking jobs

The partnership comes as Microsoft and other AI providers face increased pressure from labor groups and regulatory bodies over how AI will displace workers.

Read more at: https://www.cnbc.com/2023/12/11/microsoft-partners-with-labor-group-to-quell-concerns-about-ai-taking-jobs.html

Broadcom stock spikes to new yearlong high

The chipmaker and software company’s stock jumped after Citigroup resumed coverage Monday morning and set a price target of $1,100 based on demand for AI.

Read more at: https://www.cnbc.com/2023/12/11/broadcom-stock-spikes-on-pace-for-best-day-in-a-year.html

Hundreds of Harvard faculty members urge university not to oust embattled president

The pressure on Harvard President Claudine Gay mounted over the weekend after the resignation of University of Pennsylvania President Liz Magill.

Read more at: https://www.cnbc.com/2023/12/11/hundreds-of-harvard-faculty-members-urge-university-not-to-oust-embattled-president.html

Macy’s shares surge 21% after it receives $5.8 billion buyout offer

The offer values the retailer at $21 per share, according to the sources. Macy’s closed at just over $17 a share on Friday.

Read more at: https://www.cnbc.com/2023/12/11/macys-receives-5point8-billion-buyout-offer-sources-say.html

Bitcoin falls as much as 7% as investors cash in on early December rally: 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. Pomp Investments Founder Anthony Pompliano discusses the catalysts behind bitcoin’s recent rally, altcoin performance and how the crypto breakout has burned short sellers.

Read more at: https://www.cnbc.com/video/2023/12/11/bitcoin-falls-as-much-as-7percent-investors-cash-in-december-rally-crypto-world.html

Investor Karen Firestone has her radar on this corner of the market in 2024

There are two key drivers that could shape whether stocks continue their advance into the new year.

Read more at: https://www.cnbc.com/2023/12/11/investor-karen-firestone-has-her-radar-on-this-corner-of-the-market-in-2024.html

“This Is The Big Fight!” Bitcoin Battered As Sen. Warren Unveils Bill To “Crack Down” On Crypto

Bitcoin was hit with a double-whammy today with a large liquidation of longs overnight (around $100 million)…

Source: CoinGlass

Additionally, data from the statistics resource CoinGlass had cross-crypto long liquidations for the day stood at over $400 million.

Read more at: https://www.zerohedge.com/crypto/bitcoin-battered-sen-warren-unveils-bill-crack-down-crypto

Missouri Hits Media Matters With Notice Of Investigation, Demands Preservation Of Evidence

On Monday, Missouri Attorney General Andrew Bailey announced that his office has notified Media Matters of a pending investigation based on claims brought by X and Elon Musk against the Democratic-operative-founded ‘watchdog’ organization accusing them of using fraud to solicit donations from Missourians against its efforts to target X.

Media Matters president Angelo Carusone”We have reason to believe Media Matters used fraud to solicit donations from Missourians in order to trick advertisers into pulling out of X, the last platform dedicated to free speech in America. Radicals are attempting to kill Twitter because they cannot control it, and we are not going to let Missourians get ripped off in the process,” said Bailey, adding “I’m fighting t …

Read more at: https://www.zerohedge.com/political/missouri-hits-media-matters-notice-investigation-demands-preservation-evidence

The Price Of Rent Surged 27 Straight Months. Is Relief Finally Coming?

Authored by Mike Shedlock via MishTalk.com,

The CPI report is on Tuesday. Reports suggest rent concessions from landlords. We’ve heard this story before. Is this time the real deal?

Concessions From LandlordsThe Wall Street Journal reports Renters Are Starting to Get Concessions From Landlords Again, emphasis mine.

After suffering through a three-year period when rents jumped by 30% or more in many U.S. cities, renters are now starting to enjoy small breaks like this. Rents still aren’t falling by much. But thanks largely to an unusual surge in new building supply, more landlords …

Read more at: https://www.zerohedge.com/personal-finance/price-rent-surged-27-straight-months-relief-finally-coming

Turley: With Hunter’s Indictment, Democrats Face A Moment Of Maddening Truth

Authored by Jonathan Turley,

Below is my column in The Hill on the expected formal vote this week on the impeachment inquiry.

The vote is only to continue to look into the allegations that President Joe Biden knew of the influence peddling operation of his family and fostered those efforts.  The final line of defense is to acknowledge that this was influence peddling but that Biden was only trying to support his son.

The question for this vote is: how do you know? We have millions raised in what most view as corrupt influence peddling. Many of those payments are now confirmed by the Justice Department in the second Hunter Biden indictment.

Only an investigation will establish the truth on the President’s knowledge and involvement. Yet, for years, Democratic members have opposed any investigation. They now face a moment of truth.

Read more at: https://www.zerohedge.com/political/turley-hunters-indictment-democrats-face-moment-maddening-truth

Smile Direct Club customers ‘gutted’ and ‘left in lurch’

Dentistry trade bodies express “great concern” for patients as Smile Direct Club ceases trading.

Read more at: https://www.bbc.co.uk/news/business-67680748?at_medium=RSS&at_campaign=KARANGA

Heather Mills’ vegan food company goes into administration

The vegan food company founded by Sir Paul McCartney’s ex-wife struggled with rising costs.

Read more at: https://www.bbc.co.uk/news/business-67686515?at_medium=RSS&at_campaign=KARANGA

Zara advert accused of resembling Gaza images

The advertising watchdog has received 50 complaints about the retailer’s fashion campaign.

Read more at: https://www.bbc.co.uk/news/business-67681865?at_medium=RSS&at_campaign=KARANGA

10 IPOs more than doubled investor money on listing day in last 5 yrs

Here’s a look at the initial public offers that have seen the best performance on the listing day in the last ten years. (Source: ET NOW)

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/these-10-ipos-more-than-doubled-investors-money-on-listing-day-in-last-5-years/ipo-tracker/slideshow/105897689.cms

Dollar weakness is here to stay; get into a bucket of metal stocks: Sanjiv Bhasin

“There is nothing called sitting on cash because this is a bull market. You will have enough opportunities maybe coming your way but you have to see where you can deploy your cash. Also, the dollar weakness is here to stay. I see no recovery. I would say the dollar is going to double digits over a period of time.”

Read more at: https://economictimes.indiatimes.com/markets/expert-view/dollar-weakness-is-here-to-stay-get-into-a-bucket-of-metal-stocks-sanjiv-bhasin/articleshow/105893719.cms

Tech View: Nifty forms high-wave type candle. What traders should do on Tuesday

The overall positive chart pattern of Nifty remains intact. There is a possibility of Nifty continuing its upward journey without showing any major breakdown in the near term.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-forms-high-wave-type-candle-what-traders-should-do-on-tuesday/articleshow/105906997.cms

Futures Movers: Oil prices finish higher after longest weekly losing streak since 2018

Oil futures end a bit higher Monday after marking their longest losing streak of weekly declines since 2018 on concerns about a slowing global economy and booming U.S. supply.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-72AC-5AFF82E1B92C%7D&siteid=rss&rss=1

Market Extra: Inflation traders expect annual core CPI rate to linger a bit above 2% through October 2024

Traders see the Federal Reserve getting closer to 2% inflation next year, as measured by annual core and headline readings from the consumer price index.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-72AC-9BCE80336566%7D&siteid=rss&rss=1

Market Snapshot: Dow slightly higher as investors await inflation data and Fed policy meeting

U.S. stock indexes were mostly higher on Monday in a subdued trading session in the lead-up to the release of key inflation data and the Federal Reserve’s interest-rate decision later this week.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-72AC-4A1B9D340E72%7D&siteid=rss&rss=1