Inverse-Perovskites Open New Horizons in Thermoelectric Applications

Tokyo Institute of Technology scientists report in a new study environmentally benign inverse-perovskites with high energy conversion efficiency have potential for practical application as thermoelectric materials (TEMs). The recent study published in Advanced Science, the researchers presented “inverse”-perovskite-based high ZT TEMs with the chemical formula Ba3BO, where B refers to silicon (Si) and germanium (Ge). Addressing the limitations typically faced with TEMs, such as insufficient energy conversion efficiency and environmental…

Read more at: https://oilprice.com/Energy/Energy-General/Inverse-Perovskites-Open-New-Horizons-in-Thermoelectric-Applications.html

China Hits 5.2% Growth Target Despite Population Challenges

China faced a complex economic landscape as its economy expanded by 5.2% in 2023, while the population saw a decline of 2 million. These contrasting figures underscored the ongoing challenges posed by a slowing property market and demographic pressures on the world’s second-largest economy.  Official data released on Wednesday revealed that China’s economic growth in the fourth quarter, while slightly below analysts’ expectations, allowed Beijing to achieve its annual 2023 growth target, overcoming hurdles earlier in the…

Read more at: https://oilprice.com/Finance/the-Economy/China-Hits-52-Growth-Target-Despite-Population-Challenges.html

U.S. Gasoline Prices End 2-Week Losing Streak

Retail gasoline prices in the United States changed course this week—after falling for two consecutive weeks—rising to $3.04 per gallon on Tuesday, according to the latest GasBuddy data. The national average for a gallon of gasoline is still down 1.4 cents from one month ago, and down 23.9 cents from a year ago, GasBuddy data showed. According to GasBuddy, the attacks on vessels in the Red Sea is behind the most recent price increases.  “While last week saw the U.S. attacking Houthi militants engaged in attacks on vessels…

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Aluminum Price Forecasts Challenged by Global Market Dynamics

Via Metal Miner Following a more than 8% month-over-month increase in December, aluminum prices retraced during the first weeks of January, returning to their sideways trend. Markets appeared to shake off alumina supply jitters that saw prices spike at the end of 2023, as global demand remains muted. Nonetheless, there remains no expert consensus as to the overall aluminum price forecast for 2024. In total, the Aluminum Monthly Metals Index (MMI) rose 3.07% from December to January. Russian Aluminum Surges to 90% of LME Stocks The UK’s latest…

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OPEC Sees Production Rise In December Despite Cut Pledges

The Organization of Petroleum Exporting Countries produced more crude oil in December than it had in November, according to the group’s latest edition of its highly anticipated Monthly Oil Market Report. For December, the group produced 26.7 million barrels of crude oil per day, up from 26.628 million barrels of crude oil per day the month prior. The output hike was primarily due to increased output from Nigeria, which saw its production rise from 1.319 million bpd to 1.418 million bpd, according to OPEC’s secondary sources. Iraq also…

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Europe’s Nuclear Power Renaissance

Several European powers are rapidly progressing plans to expand their nuclear energy sectors, despite a lack of support from major EU powers, such as Germany. The U.K. recently announced plans for its biggest nuclear expansion in 70 years, as well as plans to extend the life of several existing facilities. France continues to back its longstanding approach to nuclear power, with plans to build several new reactors in the coming years. Sweden recently voted in favour of the expansion of its nuclear power sector, and Hungary is moving forward with…

Read more at: https://oilprice.com/Alternative-Energy/Nuclear-Power/Europes-Nuclear-Power-Renaissance.html

Mercuria CEO Says OPEC May Have to Deepen Oil Production Cuts

Weakening oil demand growth and higher-than-expected U.S. oil production may force OPEC and the OPEC+ group to make deeper cuts to production levels if they want to balance the market, Marco Dunand, chief executive at one of the world’s top trading firms, Mercuria, told Reuters on Wednesday. “High U.S. (oil) production growth works well when Chinese demand is growing by 1 million bpd a year. But both Chinese and overall global demand are slowing and will probably grow by 1.5 million bpd this year,” Dunand told Reuters on the sidelines…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Mercuria-CEO-Says-OPEC-May-Have-to-Deepen-Oil-Production-Cuts.html

Saudi Aramco Boosts Venture Capital Arm with $4 Billion New Funds

Saudi Aramco is more than doubling funding to its venture capital arm by injecting an additional $4 billion funding, the Saudi state oil giant said on Wednesday. The fresh funding will raise Aramco’s total investment allocation to its unit Aramco Ventures from $3 billion to $7 billion.    The decision to more than double funds allocation to the venture capital arm reflects “the growing significance of Aramco’s venture capital program in enabling the development of disruptive new technologies, creating diversification…

Read more at: https://oilprice.com/Energy/Energy-General/Saudi-Aramco-Boosts-Venture-Capital-Arm-with-4-Billion-New-Funds.html

Producers Bet on Norway’s Arctic to Find More Natural Gas

Oil and gas companies operating offshore Norway have set their sights on exploring for natural gas in the Arctic Barents Sea, eager to unlock new supply in light of the strong European demand for non-Russian gas.    Over the next three years, some of the largest firms operating on the Norwegian Continental Shelf (NCS) are set to ramp up their exploration efforts in the Barents Sea, executives at Equinor, Aker BP, and Vår Energi told Reuters after the latest Norwegian license awards were announced this week.   On Tuesday, the…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Producers-Bet-on-Norways-Arctic-to-Find-More-Natural-Gas.html

Tennessee Valley Authority Asks Customers To Conserve Power Amid Cold Spell

The Tennessee Valley Authority (TVA) has asked ten million customers to reduce power consumption for Wednesday morning as record heating demand is forecasted amid a cold blast. Power supplies are tightening as demand surges this morning, with heating demand expected to spike across TVA’s region. It has asked customers to dial back power usage between 0600 to 1000 local time.  “Our power system remains stable with our generating plants operating as planned,” TVA CEO and President Jeff Lyash said in a video on Tuesday.  Lyash…

Read more at: https://oilprice.com/Energy/Energy-General/Tennessee-Valley-Authority-Asks-Customers-To-Conserve-Power-Amid-Cold-Spell.html

OPEC Sees Strong Oil Demand Growth in 2025

Higher global economic growth and solid activity in China will see robust world oil demand growth of 1.8 million barrels per day (bpd) in 2025, OPEC said on Wednesday in its first outlook into next year’s demand levels. OPEC expects global economic growth at 2.8% in 2025, up from the 2.6% growth predicted for 2024, according to the cartel’s closely-watched Monthly Oil Market Report (MOMR) today.  “With this, global oil demand in 2025 is set to grow by a robust 1.8 mb/d, y-o-y, sustained by continued solid economic activity…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/OPEC-Sees-Strong-Oil-Demand-Growth-in-2025.html

Cape of Good Hope Becomes New Route for LNG Carriers

There are currently no tankers carrying liquefied natural gas (LNG) left in the Red Sea as shipping firms avoid the region in fear of Houthi rebel attacks. According to an X post this morning by Oeystein Kalleklev, chief executive of LNG shipping firm Flex LNG, carriers are now being re-routed through Cape of Good Hope or deviated to other destinations. The below picture was captured by shipping investor Ed Finley-Richardson on Twitter using shipping tracking platform Sea by Clarksons. Other LNG carriers are represented in green. This comes after…

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Kurdistan’s Oil Still Offline Due to Discord Over Payments to Producers

Ten months after the Kurdish oil export route was shut over disputes, Kurdistan’s oil continues to be held back from the market due to disagreements over payments to the oil companies, Iraq’s Prime Minister Mohammed Shia al-Sudani told Bloomberg in an interview this week. Talks are being held, but no solution has been reached yet with the oil companies operating in Iraq’s semi-autonomous region of Kurdistan, al-Sudani told Bloomberg in Davos, noting that the oil firms “have an issue with the cost of producing barrels.”…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Kurdistans-Oil-Still-Offline-Due-to-Discord-Over-Payments-to-Producers.html

Iran’s Strike in Pakistan Adds to Middle East Tensions

Iran carried out a missile attack in the western part of its neighbor, nuclear-armed Pakistan, targeting sites linked to militant group Jaysh al-Adl, and adding another flare-up to the already tense situation in the Middle East. Jaysh al-Adl is considered the “most active and influential” Sunni militant group in Sistan-Baluchestan, according to the office of the U.S. Director of National Intelligence. The group is designated as a terrorist group by Washington and Tehran. This is the third strike in one week from Iran on another country…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Irans-Strike-in-Pakistan-Adds-to-Middle-East-Tensions.html

China’s Coal Production Hit a New Record High in 2023

Higher power demand and efforts to boost energy security pushed China’s coal production to a record-high level in 2023, according to official statistics data published on Wednesday. Chinese coal output rose by 2.9% year-over-year to 4.66 billion metric tons in 2023, per data from China’s National Bureau of Statistics reported by Reuters. Coal imports also rose last year, as some domestic mining operations were suspended for some time in 2023 due to safety inspections and concerns. Higher demand after the COVID restrictions were lifted…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Chinas-Coal-Production-Hit-a-New-Record-High-in-2023.html

Jamie Dimon warns ‘all these very powerful forces’ will impact U.S. economy in 2024 and 2025

Dimon has remained cautious over the past few years, despite record profits at JPMorgan Chase and a U.S. economy that has defied expectations.

Read more at: https://www.cnbc.com/2024/01/17/jamie-dimon-warns-on-us-economy-in-2024-2025.html

Dow closes lower Wednesday, notching third straight losing session as bond yields rise: Live updates

The three major averages slid as Treasury yields climbed higher.

Read more at: https://www.cnbc.com/2024/01/16/stock-market-today-live-updates.html

Apple again banned from selling watches in U.S. with blood oxygen sensor

The patent dispute between Apple and Masimo will prevent the Apple Watch Series 9 from being sold in the U.S.

Read more at: https://www.cnbc.com/2024/01/17/apple-again-banned-from-selling-watches-in-us-with-blood-oxygen-sensor.html

China launches a security review of Shein. Here’s what it means for its IPO

China’s powerful internet regulator is conducting a security review of Shein as the fast-fashion giant gears up for its highly anticipated U.S. IPO.

Read more at: https://www.cnbc.com/2024/01/17/china-launches-security-review-of-shein-ahead-of-ipo.html

These energy stocks are cheap and poised for a breakout

Energy stocks have come under pressure so far this year as oil trades below $80 per barrel.

Read more at: https://www.cnbc.com/2024/01/17/these-energy-stocks-are-cheap-and-poised-for-a-breakout.html

Failed JetBlue buyout leaves Spirit Airlines with a tough path forward

Spirit, whose last profitable year was 2019, had challenges even before the ruling including grounded planes, softening demand and rising costs.

Read more at: https://www.cnbc.com/2024/01/17/spirit-could-slash-fares-restructure-after-failed-jetblue-takeover.html

Samsung announces new Galaxy S24 lineup with AI-powered photo editing, search features

Samsung announced its flagship Galaxy S24 smartphone range Wednesday, touting new artificial intelligence features for editing photos and searching for things.

Read more at: https://www.cnbc.com/2024/01/17/samsung-galaxy-s24-specs-price-availability-ai-features.html

The weight loss drug market may soon get more crowded. Here are the companies trying to enter the booming space

Wall Street has been focused on Novo Nordisk, Eli Lilly and other large drugmakers hoping to join the weight loss drug market, such as Pfizer, Roche and Amgen.

Read more at: https://www.cnbc.com/2024/01/17/weight-loss-drugs-boehringer-ingelheim-terns-viking-may-join-market.html

JPMorgan’s Jamie Dimon says he’s done talking crypto, but calls blockchain ‘real’: 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, Andy Baehr of CoinDesk Indices discusses a new index to track the broad performance of major cryptocurrencies.

Read more at: https://www.cnbc.com/video/2024/01/17/jamie-dimon-done-talking-crypto-calls-blockchain-real-crypto-world.html

Trump says ‘I would love it’ when judge threatens to kick him out of E. Jean Carroll trial

Donald Trump accused Judge Lewis Kaplan of having “Trump Derangement Syndrome” as E. Jean Carroll testified at the sex assault defamation trial in New York.

Read more at: https://www.cnbc.com/2024/01/17/judge-snaps-at-trump-lawyer-during-sex-assault-defamation-trial.html

‘Unprovoked violation’: Iran strikes Syria, Iraq and Pakistan as Middle East tensions spike

The attacks signify a boldness on the part of Tehran to take out what it perceives as threats even on its allies’ soil, sparking worries of more conflict in the region.

Read more at: https://www.cnbc.com/2024/01/17/isolated-iran-strikes-syria-iraq-and-pakistan-further-sparking-middle-east-tensions.html

‘The Western world is in danger’: Argentina’s Milei, a self-described ‘anarcho-capitalist,’ urges Davos elite to reject socialism

Milei’s trip to Davos marks his first overseas tour since taking office last month.

Read more at: https://www.cnbc.com/2024/01/17/argentina-president-javier-milei-urges-davos-elite-to-reject-socialism.html

Apple antitrust suit could reportedly come as soon as March

The Justice Department is reportedly readying an antitrust case against the iPhone maker that could come as soon as March.

Read more at: https://www.cnbc.com/2024/01/17/doj-to-file-antitrust-case-against-apple-as-soon-as-march.html

Container Lines Scramble To Rent More Ships Amid Red Sea Crisis

By Greg Miller of FreightWaves

Red Sea diversions mean container lines need more ships to carry the same amount of cargo. The security situation — which is even more precarious in the near term due to coalition air strikes in Yemen — has already driven spot container freight rates much higher. Now it is starting to push up the price container lines pay to rent ships.

“This week saw a scramble for prompt tonnage,” said MB Shipbrokers (formerly Maersk Broker) in a market report on Friday, referring to ships that can be chartered immediately.

“Owners have certainly become more bullish and are pushing for higher-than-last-done levels in all segments and most regions.” Charter rates are headed higher, “specifically for short periods of three to six months’ duration,” said MB Shipbrokers.

Read more at: https://www.zerohedge.com/markets/container-lines-scramble-rent-more-ships-amid-red-sea-crisis

Shut The Border Or Shut The Government

Authored by Frank Miele via RealClear Politics,

When House Speaker Mike Johnson and 60 GOP members of Congress went to Eagle Pass, Texas, recently for a photo-op, they were probably shocked that the first question they were asked was for a show of hands of those who would shut down the government if President Biden doesn’t shut the border.

You see, that question actually frames unrestricted immigration at the southern border as the existential national crisis which it is. No wonder Texas Republican Rep. Pat Fallon lost it and immediately shouted, “We’re not gonna do ‘show of hands.’ We’re not in a classroom. We’re not doing ‘show of hands.’”

No, of course not. It’s much easier to shut down a reporter seeking the truth than it is to shut down the border and save the country.

The

Read more at: https://www.zerohedge.com/political/shut-border-or-shut-government

Beige Book Finds “LIttle Or No Change” In Economic Activity But Optimism Rises On Hopes Of Lower Rates

One month after the downbeat November Beige Book found economic activity was “slowing”, moments ago the Fed released the latest, December Beige Book in which we find a continuation of said gloominess because a majority of the twelve Federal Reserve Districts reported “little or no change in economic activity since the prior Beige Book period” while of the four districts that differed, three reported modest growth and one reported a moderate decline.

That said, consumers – which as we reported previously loaded up on near-record amount of credit card debt to pay for holiday purchases…

… delivered some seasonal relief over the holidays by “meeting expectatio …

Read more at: https://www.zerohedge.com/markets/beige-book-finds-little-or-no-change-economic-activity-optimism-rises-hopes-lower-rates

Davos Rattled Over Trump; Zelensky Warns Europe Will ‘Lose Ukraine’

As the World Economic Forum (WEF) kicks off in Davos, Switzerland, two people are the talk of the town – Donald Trump and Volodymyr Zelensky – the former of whom just cemented his position as the leader of the Republican party going into the 2024 US election, and Zelensky, who was freaking about about it.

According to the NY Times, “Zelensky used an expletive to describe a Trump claim about containing Vladimir Putin,” (without revealing said expletive), and suggested that if the US withdraws support, Europe will ‘lose Ukraine.’

At a Q. and A. with journalists that Andrew moderated, Zelensky dismissed the idea that Trump could stop the Russian …

Read more at: https://www.zerohedge.com/geopolitical/davos-rattled-over-trump-zelensky-warns-europe-will-lose-ukraine

Interest rate cuts still expected despite UK inflation uptick

Inflation has fallen sharply recently, but ticked up to 4% in the year to December, official figures show.

Read more at: https://www.bbc.co.uk/news/business-67993276?at_medium=RSS&at_campaign=KARANGA

Boeing groundings continue as FAA inspections proceed

US authorities have inspected 40 Boeing 737 Max 9 planes, grounded after a mid-air blowout.

Read more at: https://www.bbc.co.uk/news/business-68009647?at_medium=RSS&at_campaign=KARANGA

Zelensky calls for seized Russian billions to rebuild Ukraine

The Ukrainian president wants to use Russian assets seized in world banks to rebuild the war-torn country.

Read more at: https://www.bbc.co.uk/news/business-68004361?at_medium=RSS&at_campaign=KARANGA

IndusInd Bank Q3 result preview: Profit, NII to grow in double digits; asset quality stable

IndusInd Bank Q3 result preview: IndusInd Bank is expected to report healthy growth in net interest income (NII) for Q3, with a 16% year-on-year increase. The bank saw a 20% year-on-year growth in net advances and a 13% increase in deposits. The net profit for the quarter is expected to grow by 11% year-on-year. Asset quality is anticipated to remain stable, while loan growth and deposit growth are expected to be healthy.

Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/indusind-bank-q3-result-preview-profit-nii-to-grow-in-double-digits-asset-quality-stable/articleshow/106920181.cms

Tech View: Nifty charts call for sell on rise strategy. What traders should do

Nifty on Wednesday ended 460 points lower to form a red candle on the daily charts with a decisive break below the 20-day moving average of 21,629. Both price and momentum indicators are pointing toward weakness.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-charts-call-for-sell-on-rise-strategy-what-traders-should-do/articleshow/106931370.cms

India’s highest-priced stock just got pricier; MRF shares hit Rs 1.5 lakh mark

In Wednesday’s trade, MRF stock witnessed a total of 27,248 equity shares worth Rs 384.6 crore changing hands on NSE. Other than MRF’s stock, Page Industries (Rs 37,770), Honeywell Automation India (Rs 37,219), 3M India (34,263) and Shree Cement (Rs 26,527) are other highest-priced stocks in India.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/indias-highest-priced-stock-just-got-pricier-mrf-shares-hit-rs-1-5-lakh-mark/articleshow/106925741.cms

10-, 30-year Treasury yields hit five-week highs after December retail sales data

Long-term Treasury yields finished at their highest levels since early December again on Wednesday, after robust U.S. retail sales and a pickup in U.K. inflation dampened enthusiasm over interest-rate cuts this year.

Read more at: https://www.marketwatch.com/story/treasurys-flirt-with-five-week-highs-as-central-bankers-continue-to-push-back-against-rate-cut-bets-617c06bf?mod=mw_rss_topstories

Tesla could be staring down a year of ‘growing pains,’ analyst cautions

Wells Fargo expressed caution about automotive earnings in general for the latest quarter but said Tesla “screens the most at risk.”

Read more at: https://www.marketwatch.com/story/tesla-could-be-staring-down-a-year-of-growing-pains-analyst-cautions-4c6c5fde?mod=mw_rss_topstories

Credit-card interest rates have been hitting record highs, but they might have just peaked

Credit-card holders with whiplash from two years of fast-climbing interest rates and fast-growing balances just got a little bit of good news.

Read more at: https://www.marketwatch.com/story/credit-card-interest-rates-have-been-hitting-record-highs-but-they-might-have-just-peaked-0c703f9c?mod=mw_rss_topstories