Airbus, Rolls-Royce, and EasyJet Team Up for Hydrogen-Powered Flight

There has been increasing talk about the potential for hydrogen flight in recent years, as aviation companies look to decarbonise their operations. As passenger electric flight looks increasingly difficult to achieve, due to the heavy weight of existing electric batteries, airlines are exploring the potential for powering planes using hydrogen. To achieve this, they will need the backing of governments worldwide, as well as significant public and private investment in research and development in the hydrogen and aviation industries.  …

Read more at: https://oilprice.com/Alternative-Energy/Renewable-Energy/Airbus-Rolls-Royce-and-EasyJet-Team-Up-for-Hydrogen-Powered-Flight.html

Gold Recycling Goes Green with Biodiesel Innovation

Chalmers University of Technology researchers have developed an environmentally friendly method for recycling and purifying metals. Using gold earrings from a pawnshop in Gothenburg and biodiesel from the nearest filling station, the discovery could change an industry that is currently dependent on large amounts of fossil oil. The scientific article ‘Sustainable solvent extraction of gold and other metals with biomass chemicals’ has been published in the journal RSC Sustainability (Available Open Access). The authors of the study are…

Read more at: https://oilprice.com/Alternative-Energy/Biofuels/Gold-Recycling-Goes-Green-with-Biodiesel-Innovation.html

EU and Turkmenistan Eye New Energy Partnerships

A lot of Europeans will be passing through Turkmenistan this year. So says Foreign Minister Rashid Meredov. Meredov last week embarked on a five-day trip that took in Belgium and Italy. In Brussels, he met with an array of important euro-panjandrums, including European Commission vice presidents Valdis Dombrovskis and Margaritis Schinas, the European Commissioner for International Partnerships, Jutta Urpilainen, and Simon Mordue, the chief foreign policy advisor to European Council’s president. The end result of all this business was the…

Read more at: https://oilprice.com/Energy/Energy-General/EU-and-Turkmenistan-Eye-New-Energy-Partnerships.html

Copper Atoms Key to Sustainable Methanol Production

University of Nottingham researchers have successfully transformed CO2 into methanol by shining sunlight on single atoms of copper deposited on a light-activated material, a discovery that paves the way for creating new green fuels. The international team of researchers from the University of Nottingham’s School of Chemistry, University of Birmingham, University of Queensland and University of Ulm have research has been published in the Sustainable Energy & Fuels Journal of the Royal Society of Chemistry. The material design is made up…

Read more at: https://oilprice.com/Energy/Energy-General/Copper-Atoms-Key-to-Sustainable-Methanol-Production.html

Citigroup Says 42% of Clients Have No Energy Transition Plan

More than 40% of Citigroup’s clients lack a “substantive plan” for cutting their emissions to align with net-zero ambitions or are unlikely to transition at all, the bank’s latest climate report showed. The report, published earlier this week, is based on initial results from its net zero review template, which monitors its clients’ readiness to adapt to the energy transition. Among the energy sector, according to Citigroup, 42% of its clients have a “low” transition-plan alignment, and 29% have a “medium-low”…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Citigroup-Says-42-of-Clients-Have-No-Energy-Transition-Plan.html

Russian Warships Enter The Red Sea amid Houthi Attacks

A group of warships from Russia’s Pacific Fleet have crossed the Bab el-Mandeb Strait and have entered the Red Sea, Russian state media reported on Thursday, citing the press service of the Pacific Fleet. The area is crowded with ships from Western Navies which are looking to protect commercial ships from the attacks launched by the Iran-aligned Houthis in Yemen.   The Russian detachment included missile cruiser Varyag and frigate Marshal Shaposhnikov, which crossed the Bab el-Mandeb Strait and entered the Red Sea, the Pacific…

Read more at: https://oilprice.com/Geopolitics/Middle-East/Russian-Warships-Enter-The-Red-Sea-amid-Houthi-Attacks.html

Asian Imports of Russian Crude Oil to Hit a 10-Month High in March

Rising crude imports from Russia in Asia’s top importers, China and India, are estimated to push total Asian oil imports to a 10-month high in March, per data from LSEG Oil Research reported by Reuters columnist Clyde Russell. This month, higher arrivals of Russian crude to the top-importing markets in Asia are set to boost Asian crude imports to 27.48 million barrels per day (bpd), which would be the highest level in 10 months. The estimated import volumes in March would be higher than Asia’s 26.70 million bpd imports in…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Asian-Imports-of-Russian-Crude-Oil-to-Hit-a-10-Month-High-in-March.html

Water Shortages to Impact Over 30% of the World’s Population

Water is not only the basis of life for animals and plants, but is also likely to become a contested resource in parts of the world in the coming decades. According to UN figures, global water stress, i.e. the proportion of water withdrawn for use in industry, agriculture or private households in relation to available water, was manageable at 18.2% in 2020. In 2022, however, 2.4 billion people were living in areas that are exposed to extreme water stress in some cases. It is not possible to determine exactly how high this will be by 2050 due to…

Read more at: https://oilprice.com/The-Environment/Global-Warming/Water-Shortages-to-Impact-Over-30-of-the-Worlds-Population.html

Rosneft Refinery Offline Following Ukrainian Drone Attack

A refinery in southwestern Russia owned and operated by state oil giant Rosneft has been taken offline and all production stopped, due to damage following a drone attack from Ukraine last week, Reuters reported on Thursday, quoting sources in the industry.  Rosneft’s Kuibyshev oil refinery in the region of Samara on the Volga River was hit by a drone attack this weekend and had already halted half of its crude processing capacity after one of the two primary crude refining units at the facility caught fire.   …

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Rosneft-Refinery-Offline-Following-Ukrainian-Drone-Attack.html

Over 20% of the World’s Oil Refining Capacity Is at Risk of Closure

More than 20% of the total global refining capacity is at some risk of closure as refining margins are set to weaken alongside demand, while carbon taxes could also burden many refiners, Wood Mackenzie has said in a recent report. Overall, based on expected net cash margins in 2030, Wood Mackenzie has identified 121 out of 465 screened refining sites “at some risk of closure”. This represents a cumulative 20.2 million bpd of refining capacity, or 21.6% of the global capacity last year, WoodMac’s analysis showed.…

Read more at: https://oilprice.com/Energy/Energy-General/Over-20-of-the-Worlds-Oil-Refining-Capacity-Is-at-Risk-of-Closure.html

Kenya and Uganda End Oil Imports Dispute

East African neighbors Kenya and Uganda have reached an agreement to end a bitter dispute about oil imports via the Kenyan port of Mombasa to landlocked Uganda. For years, Uganda has imported fuels from Kenya via Kenyan companies and middlemen. Kenya has been importing fuels and selling them to its neighbors in East Africa. Last autumn, Uganda’s President Yoweri Museveni accused Kenyan resellers and middlemen of inflating fuel prices by up to 58% and said Uganda has been “cheated” by the fuel resellers to a “huge loss”…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Kenya-and-Uganda-End-Oil-Imports-Dispute.html

India Looks to Buy Lithium and Copper Assets in Top Producer Chile

To boost its energy transition efforts, India is betting on acquiring lithium and copper assets overseas and is sending a delegation to search for such resources in Chile, a top producer of both critical minerals, Reuters reported on Thursday, citing a source at the Indian government. “We are interested in buying assets. We are trying to facilitate private and government-owned companies to acquire assets in other countries as well,” the anonymous source told Reuters.   Chile is the world’s biggest copper producer…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/India-Looks-to-Buy-Lithium-and-Copper-Assets-in-Top-Producer-Chile.html

U.S. Hydrogen Developers Seek to Expand IRA Tax Credit Rules

Developers of hydrogen projects and industry associations are seeking expanded tax credits under the Inflation Reduction Act, saying in hearings this week that the rules on clean energy for hydrogen production need to be loosened to allow the industry to take off. At the end of last year, the U.S. Department of the Treasury finally released the long-awaited proposed tax credits for clean hydrogen production under the Inflation Reduction Act (IRA), in a move welcomed by environmentalists but criticized by others as too narrow…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Hydrogen-Developers-Seek-to-Expand-IRA-Tax-Credit-Rules.html

Oil Prices Set to Post a Strong Quarterly Gain

The recent rally in oil prices is pushing the benchmarks towards a quarter of gains thanks to the OPEC+ output cuts. WTI, according to Bloomberg, has added 14% since the start of the year, topping $82 per barrel earlier this week. Brent crude has gone from around $78 per barrel at the start of the year to over $86 per barrel this week. What’s interesting in the latest movements in oil is that prices earlier today moved up despite the Energy Information Administration reporting an estimated build in crude oil stocks for the latest week,…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Set-to-Post-a-Strong-Quarterly-Gain.html

More Canadian Oil Heads to California Ahead of Trans Mountain Pipeline Launch

Canadian oil shipments to Los Angeles hit the highest in four years this month ahead of the formal launch of the expanded Trans Mountain pipeline that is expected to boost export volumes further. According to Vortexa data cited by Bloomberg, three tankers carrying a combined 1.74 million barrels departed from the port of Vancouver this month bound for LA. At least two of these were purchased by Marathon Petroleum, which has a refinery in LA. Bloomberg notes that Marathon Petroleum has reserved capacity on the expanded TMX, meaning this increased…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/More-Canadian-Oil-Heads-to-California-Ahead-of-Trans-Mountain-Pipeline-Launch.html

FTX founder Sam Bankman-Fried sentenced to 25 years for crypto fraud, to pay $11 billion in forfeiture

FTX founder Sam Bankman-Fried was convicted of securities fraud conspiracy that wrecked his cryptocurrency exchange and a related hedge fund, Alameda Research.

Read more at: https://www.cnbc.com/2024/03/28/live-updates-ftx-founder-sam-bankman-fried-sentencing.html

Baltimore disaster may be the largest-ever marine insurance payout, Lloyd’s boss says

The head of Lloyd’s of London said the insurance industry would nonetheless be able to handle the hefty claims.

Read more at: https://www.cnbc.com/2024/03/28/baltimore-disaster-may-be-largest-ever-marine-insurance-payout-lloyds-.html

Toyota could introduce electric, plug-in Tacoma and Tundra pickups

Toyota is evaluating an expansion of its U.S. truck lineup that could include all-electric or plug-in hybrid electric versions of its Tacoma and Tundra pickups.

Read more at: https://www.cnbc.com/2024/03/28/toyota-weighing-electric-plug-in-tacoma-and-tundra-pickups.html

S&P 500 closes at a fresh record, posts strongest first quarter performance since 2019: Live updates

The S&P 500 rose Thursday as it aimed to wrap up its best first-quarter performance in five years.

Read more at: https://www.cnbc.com/2024/03/27/stock-market-today-live-updates.html

Wall Street could be in for another good quarter after an exuberant start to the year, history shows

Many investors are deliberating whether the rally can continue in the second quarter, or if stocks are due for some sort of consolidation.

Read more at: https://www.cnbc.com/2024/03/28/wall-street-could-see-another-good-quarter-after-strong-start-to-2024.html

Home Depot is acquiring specialty distributor SRS for $18.25 billion in huge bet on growing pro sales

Home Depot is making the largest acquisition in its history as its sales growth stagnates.

Read more at: https://www.cnbc.com/2024/03/28/home-depot-acquiring-srs-distribution-for-18point25-billion-to-grow-pro-sales.html

The wealth of the 1% just hit a record $44 trillion

Economists say the rising stock market is giving an added boost to consumer spending through what is known as the “wealth effect.”

Read more at: https://www.cnbc.com/2024/03/28/wealth-of-the-1percent-hits-a-record-44-trillion.html

Sam Bankman-Fried sentenced to 25 years for FTX fraud: 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, former federal prosecutor Paul Tuchmann, partner at Wiggin and Dana, and crypto-focused attorney Zack Shapiro, managing partner at Rains Law Firm, provide legal insight into Sam Bankman-Fried’s 25-year prison sentence.

Read more at: https://www.cnbc.com/video/2024/03/28/sam-bankman-fried-sentenced-25-years-ftx-fraud-cnbc-crypto-world.html

How this bull market could unravel and what to watch for, according to Larry McDonald

Lawrence McDonald, author of “A Colossal Failure of Common Sense” and “How to Listen When Markets Speak,” spoke with CNBC about his top concern for markets.

Read more at: https://www.cnbc.com/2024/03/28/how-this-bull-market-could-unravel-and-what-to-watch-for-according-to-larry-mcdonald.html

Social Security Administration to remove food assistance as barrier to accessing certain benefits

Starting Sept. 30, food assistance from family and friends, plus community support, will no longer count against eligibility for SSI benefits.

Read more at: https://www.cnbc.com/2024/03/28/social-security-administration-to-remove-food-assistance-as-ssi-benefit-barrier.html

Minnesota Timberwolves sale to Alex Rodriguez and Marc Lore falls apart

Alex Rodriguez and Marc Lore planned to acquire a majority stake in the NBA’s Minnesota Timberwolves and the WNBA’s Lynx.

Read more at: https://www.cnbc.com/2024/03/28/minnesota-timberwolves-sale-to-a-rod-and-marc-lore-falls-apart.html

Katie Stockton on how to make successful trades using stock charts

CNBC Pro Talks features one-on-one interviews with Wall Street’s top investors, smartest traders and rising stars. CNBC’s Dominic Chu finds out what makes them tick, what makes them money, and how you can follow in their footsteps.

Read more at: https://www.cnbc.com/2024/03/28/katie-stockton-on-how-to-make-successful-trades-using-stock-charts.html

This semiconductor ETF is headed for its best quarterly gain in a year. Here are the winners

Chip stocks are on another red-hot streak this year as artificial intelligence excitement shows no signs of slowing down.

Read more at: https://www.cnbc.com/2024/03/28/this-semiconductor-etf-is-headed-for-its-best-quarterly-gain-in-a-year-here-are-the-winners.html

Appeals Court Extends Block On Texas Arrests Of Illegal Immigrants

Authored by Chase Smith via The Epoch Times (emphasis ours),

A divided appeals court has upheld a preliminary injunction against the State of Texas, continuing to stall the enforcement of Senate Bill 4 (S.B. 4), a state law targeting illegal immigration that allows the state to arrest and deport suspected illegal immigrants.

In an aerial view, immigrants wait for transport and processing after crossing the U.S.-Mexico border in El Paso, Texas, on March 13, 2024. (John Moore/Getty Images)

The United States Court of Appeals for the Fifth Circuit’s decision, in which one member of the three-judge panel dissented, follows conflicting rulings over the law that the Su …

Read more at: https://www.zerohedge.com/political/appeals-court-extends-block-texas-arrests-illegal-immigrants

Baltimore Union Warns Of Job Loss Tsunami After Bridge Collapse Paralyzes Port

The lengthy disruption at the Port of Baltimore, one of the busiest ports on the US East Coasts, will unleash supply chain snarls and resulting financial pressures for the local economy of Baltimore, Maryland, as it’s only a matter of time before companies with direct and indirect exposure of the port fire workers.

“I have 2,400 ILA members who are soon going to be without jobs,” Scott Cowan, president of the labor union’s Baltimore local, said in an interview Wednesday, as quoted by Bloomberg.

Cowan said, “Getting them on the payroll, and keeping their families fed, putting food on the table is my first and foremost thought on my mind.”

Source: Bloomberg

On Wednesday, Pete Buttigieg, the US transportation secretary, said it was “too soon to be certain” how long it would take salva …

Read more at: https://www.zerohedge.com/markets/baltimore-union-warns-job-loss-tsunami-after-bridge-collapse-paralyzes-port

Over 20% Of The World’s Oil Refining Capacity Is At Risk Of Closure

Authored by Charles Kennedy via OilPrice.com,

• Weakening refining margins and carbon taxes put a fifth of global refining capacity at risk.
• Europe and China face the highest closure risk due to declining demand and environmental regulations.
• The rise of electric vehicles and biofuels is transforming the industry, potentially leading to widespread refinery closures.

More than 20% of the total global refining capacity is at some risk of closure as refining margins are set to weaken alongside demand, while carbon taxes could also burden many refiners, Wood Mackenzie has said in a recent report.

Overall, based on expected net cash margins in 2 …

Read more at: https://www.zerohedge.com/energy/over-20-worlds-oil-refining-capacity-risk-closure

Demand For BlackRock’s BUIDL Means Over $1BN In US Treasuries Have Now Been Tokenized On-Chain

More than $1 billion worth of United States Treasuries now exist across Ethereum, Polygon, Solana, and other blockchains.

The new milestone was reached shortly after the launch of BlackRock’s first tokenized asset fund – BUIDL, which joined 16 other tokenized government securities funds last week.

Read more at: https://www.zerohedge.com/crypto/demand-blackrocks-buidl-means-over-1bn-us-treasuries-have-now-been-tokenized-chain

Secret papers show Post Office knew case was false

A draft report seen by the BBC confirms the Post Office knew of IT vulnerabilities before Bates v Post Office case.

Read more at: https://www.bbc.co.uk/news/uk-68663750

FTX’s Sam Bankman-Fried sentenced to 25 years

The crypto exchange co-founder was convicted last year of stealing $8bn from investors.

Read more at: https://www.bbc.co.uk/news/business-68677487

Post-Brexit tax to hit UK car exports to Canada

A post-Brexit deal has expired with no new agreement, which leaving UK exports to Canada subject to new tariffs.

Read more at: https://www.bbc.co.uk/news/business-68688486

Many people and companies have made millions on Trump media’s stock

The biggest beneficiary is Trump, the company’s largest shareholder, whose stake is worth more than $5 billion, on paper. No other shareholder comes close, according to regulatory filings, but many of Trump Media’s executives have seen their net worth swell this week, in some cases by many millions of dollars.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/many-people-and-companies-have-made-millions-on-trump-medias-stock/articleshow/108855709.cms

Tech View: Nifty forms long wick candle. What should traders do on Monday

The near-term uptrend of the Nifty remains intact with high volatility. The next upside levels to be watched are around 22,500-22,600 in the next week. Immediate support is at 22,250-22,200 levels, said Nagaraj Shetti of HDFC Securities. Today’s session marks the end of the financial year 2023-24 for traders.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-forms-long-wick-candle-what-should-traders-do-on-monday/articleshow/108853955.cms

2 IPOs, backed by Vijay Kedia and Ashish Kacholia, booked over 10x each on Day 2

The IPO of TAC Infosec saw an overall subscription of 17 times so far on the second day of bidding. Radiowalla Network IPO got over 10x subscriptions.

Read more at: https://economictimes.indiatimes.com/markets/ipos/fpos/2-ipos-backed-by-vijay-kedia-and-ashish-kacholia-booked-over-10x-each-on-day-2/articleshow/108848517.cms

The S&P 500 and Wall Street’s ‘fear gauge’ are both up in 2024. Should investors be worried?

Something unusual happened in the stock market this quarter: Both the S&P 500 and Cboe Volatility Index, better known as the Vix, rose.

Read more at: https://www.marketwatch.com/story/the-s-p-500-and-wall-streets-fear-gauge-are-both-up-in-2024-should-investors-be-worried-9d7e8c49?mod=mw_rss_topstories

‘She cleaned him out’: My dying father, who had stage 4 cancer, moved in with his girlfriend. In 3 months, she sold his house and pocketed the money.

“She flipped the title on his car, sold all his furniture and told us that our dad didn’t leave me or my sister anything.”

Read more at: https://www.marketwatch.com/story/she-cleaned-him-out-my-dying-father-who-had-stage-4-cancer-moved-in-with-his-girlfriend-she-sold-his-house-and-pocketed-the-money-32e865ef?mod=mw_rss_topstories

Oil ends higher, with U.S. prices up 16% for the quarter

Oil futures settled higher Thursday for the first time in three sessions to tally a solid gain for the quarter and a third straight monthly climb.

Read more at: https://www.marketwatch.com/story/oil-prices-bounce-higher-on-track-for-solid-quarterly-gains-6f97768d?mod=mw_rss_topstories