Geopolitical Risk Looms Over Commodity Markets

Via Metal Miner The start of this year presented mixed signals for the global economy. Prices witnessed the continuation of a strong rally from late February going into March. This helped create a lot of positivity in the metals market and market in general, boosting sentiment regarding a strong, healthy U.S. economy. Markets such as the SP500 and the NASDAQ, saw modest gains week over week to deliver the indices’ best February performance since 2015. February economic data, such as payroll figures, GDP, and retail sales, also came in stronger…

Read more at: https://oilprice.com/Metals/Commodities/Geopolitical-Risk-Looms-Over-Commodity-Markets.html

Chinese EV Makers Offer Incentives to Woo Tesla Customers

The competition in China’s EV world continues to heat up, as the market becomes more and more saturated.  The country’s automakers are aggressively trying to take advantage of Tesla’s recent price hikes by offering incentives, while at the same time gearing up to compete with the “disruptive” entry of Xiaomi into the market, Bloomberg reported this week.  The report notes that on April 1, Shanghai-based Nio unveiled an incentive plan worth up to 1 billion yuan ($186.4 million) to encourage gasoline vehicle owners to switch, offering perks…

Read more at: https://oilprice.com/Energy/Energy-General/Chinese-EV-Makers-Offer-Incentives-to-Woo-Tesla-Customers.html

Russia’s Oil Exports By Sea Hit New 2024 Record

Russia’s crude oil exports by sea reached the highest point yet this year in the last week of March, as weather conditions at Russia’s Pacific Port improved. Bloomberg tanker tracking data shows that four-week average seaborne crude exports in the period to March 31 reached their highest level since November. Russia agreed to cut crude oil exports throughout the first quarter as part of its role in OPEC+, which has been trying to keep control of the oil market. Under the agreement, Russia agreed to cut 300,000 bpd of crude oil exports…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russias-Oil-Exports-By-Sea-Hit-New-2024-Record.html

Central Asia’s Air Quality Among Worst in the World

The air quality in Central Asian states is among the worst in the world, according to corporate study that measured pollution in over 130 countries around the world. The 2023 World Air Quality Report, compiled by Swiss-based IQAir, measured air-borne harmful particles, known as PM2.5, in over 7,800 locations. The findings showed that Central Asia trailed behind South Asian and Gulf states as having the some of worst regional air quality in the world.  Bangladesh, Pakistan and India ranked one, two three in the report’s table of countries…

Read more at: https://oilprice.com/The-Environment/Global-Warming/Central-Asias-Air-Quality-Among-Worst-in-the-World.html

Princeton Scientists Unveil Breakthrough in Fusion Reactor Technology

Princeton Plasma Physics Laboratory researchers found the promise of coating the inner surface of the vessel containing a fusion plasma in liquid lithium guides them toward the best practices for fueling their plasmas. The research, which is featured in a new paper in Nuclear Fusion, includes observations, numerical simulations and analysis from their experiments inside a fusion plasma vessel called the Lithium Tokamak Experiment-Beta (LTX-β). (Please note, there is a dearth of attention grabbing media available for this post, however, the…

Read more at: https://oilprice.com/Alternative-Energy/Nuclear-Power/Princeton-Scientists-Unveil-Breakthrough-in-Fusion-Reactor-Technology.html

Europe Makes It To the Other Side of Winter With Record Levels of Natural Gas

Europe has managed to make it through this winter season with record levels of natural gas in storage, setting it up to head into next winter on solid ground. With the end of March essentially wrapping up the typical winter season, natural gas stores in Europe remain 58.7% full, Gas Infrastructure Europe’s data shows—a new record. The previous record was set last winter when Europe ended with about 56% of natural gas stores filled. Europe will now begin the process of refilling its natural gas stores—it’s already fairly…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Europe-Makes-It-To-the-Other-Side-of-Winter-With-Record-Levels-of-Natural-Gas.html

Qatar Prepares To Dominate The LNG Export Market

Qatar is backing up its massive LNG expansion plans with new orders to charter dozens of new ships as the tiny Gulf gas producer aims to solidify its dominance in the global LNG export market.   Last year, the United States overtook Qatar as the world’s largest LNG exporter, but Qatar has a huge expansion program underway to boost its export capacity by 85% from current levels by 2030. As the U.S. paused permit approvals for new LNG export projects earlier this year, adding uncertainty about the outlook for U.S. supply from…

Read more at: https://oilprice.com/Energy/Natural-Gas/Qatar-Prepares-To-Dominate-The-LNG-Export-Market.html

SLB Announces $8-Billion Deal as Mergers Extend to Oilfield Sector

SLB, the world’s top oilfield services provider, announced on Tuesday a definitive agreement to buy smaller competitor ChampionX Corporation in an all-stock deal valued at $7.75 billion, as the energy sector consolidation extends to the oilfield services segment. SLB and ChampionX announced the agreement whose terms stipulate that ChampionX shareholders will receive 0.735 shares of SLB common stock in exchange for each ChampionX share. At the closing of the transaction ChampionX shareholders will own around 9% of SLB’s outstanding…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/SLB-Announces-8-Billion-Deal-as-Mergers-Extend-to-Oilfield-Sector.html

Bullish Bets on Gasoline Reach Four-Year High

The latest surge in gasoline prices at the pump, something we detailed last week (read: here), could begin to impact the Biden administration’s reelection outlook unless the White House unleashes market interventions to arrest surging prices and prevent the national average cost of gas from breaching the critical level of $4/gallon.  Let’s begin with hedge fund positioning: These traders have pushed their bullish bets on gasoline futures in New York to the highest level in four years. New data from the Commodities Futures Trading Commission…

Read more at: https://oilprice.com/Energy/Gas-Prices/Bullish-Bets-on-Gasoline-Reach-Four-Year-High.html

Venezuela’s Maduro Set to Visit Russia Soon

Russia is preparing to welcome Venezuela’s President Nicolas Maduro on an official visit soon, the Kremlin said on Tuesday, as the oil-producing countries Russia and Venezuela continue to maintain close ties in defiance of the Western powers. Maduro’s visit is in the works, with the dates currently being discussed, Vladimir Putin’s spokesman Dmitry Peskov told reporters in Moscow on Tuesday. “Yes, it [the visit] is being prepared,” Peskov said, as quoted by Russian news agency TASS. Russia and Venezuela are…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Venezuelas-Maduro-Set-to-Visit-Russia-Soon.html

Brent Closes in on $90 as Geopolitical Risk Climbs

A combination of rising geopolitical risk and supply disruptions has pushed oil prices higher, with Brent looking increasingly likely to break the $90 mark.- Energy stocks have started to outperform the wider stock market as Brent is nearing 89 per barrel this week, with energy leading the S&P 500’s eleven market sectors in March thanks to a 10% rise.- The oil markets are anticipating the OPEC monitoring meeting on April 3, looking for potential clues on the directionality of pricing, with JPMorgan already predicting Brent to be in the…

Read more at: https://oilprice.com/Energy/Energy-General/Brent-Closes-in-on-90-as-Geopolitical-Risk-Climbs.html

Shell Claims Court Ruling on Emissions Will Slow the Energy Transition

The landmark ruling of a Dutch court that ordered Shell to slash its emissions could obstruct the role the supermajor can play in the energy transition and could slow the fight against climate change, Shell’s lawyers argued on Tuesday in the hearing of the company’s appeal against the ruling. Back in 2021, the District Court in The Hague ordered the oil supermajor to slash its carbon emissions by 45% by 2030 in a landmark ruling in a climate case brought by environmentalists that could set precedents for other oil companies.…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Shell-Claims-Court-Ruling-on-Emissions-Will-Slow-the-Energy-Transition.html

OPEC+ Panel Unlikely to Propose Policy Changes as Oil Prices Hit 2024 High

The Joint Ministerial Monitoring Committee (JMMC) of OPEC+ is unlikely to propose any changes to oil production policy when it meets on April 3, numerous sources in the alliance have told Reuters. The JMMC, the panel that takes stock of oil market developments and proposes courses of action to the ministers of the OPEC+ group, is meeting on Wednesday, just as oil prices hit their highest level so far this year – and the highest in five months – amid renewed geopolitical tensions in the Middle East and signs of tightening oil supply.…

Read more at: https://oilprice.com/Energy/Energy-General/OPEC-Panel-Unlikely-to-Propose-Policy-Changes-as-Oil-Prices-Hit-2024-High.html

Ukrainian Drones Hit Russia’s Third-Largest Oil Refinery

Ukrainian drones hit the primary refining unit of Russia’s third-largest refinery southeast of Moscow more than 800 miles from the front line, Reuters reported on Tuesday. The Taneco refinery of Russian company Tatneft in Tatarstan, an industrialized region southeast of Moscow, was attacked by Ukrainian drones in the latest such attack from Ukraine on Russian refining infrastructure. The refinery has a capacity to process 340,000 barrels per day (bpd) of crude. Its primary refining unit, with a capacity to process about 155,000…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Ukrainian-Drones-Hit-Russias-Third-Largest-Oil-Refinery.html

Russia’s Sokol Crude Starts to Move to India Again via Traders

Despite stricter enforcement of the U.S. sanctions against Russian oil exports, some tankers loaded with Russia’s Sokol crude grade are near India signaling Indian ports as their destinations, vessel-tracking data compiled by Bloomberg showed on Tuesday.   After more than a year of gorging on cheaper Russian crude, Indian refiners began to avoid Sokol shipments at the end of last year and avoid taking delivery of crude loaded on tankers of Russian state fleet owner Sovcomflot, following the ramp-up of U.S. sanctions on Russia.…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russias-Sokol-Crude-Starts-to-Move-to-India-Again-via-Traders.html

Dow tumbles nearly 400 points, falling for a second day in rough start to new quarter: Live updates

The Dow Jones Industrial Average fell for a second day, continuing Wall Street’s lackluster start to the quarter.

Read more at: https://www.cnbc.com/2024/04/01/stock-market-today-live-updates.html

Tesla shares fall after deliveries drop 8.5% from a year ago

Tesla just reported first-quarter vehicle production and deliveries for 2024.

Read more at: https://www.cnbc.com/2024/04/02/tesla-tsla-q1-2024-vehicle-delivery-and-production-numbers.html

Fed officials still expects rate cuts this year, but not anytime soon

The central bank official noted progress made on inflation while the economy has continued to grow.

Read more at: https://www.cnbc.com/2024/04/02/feds-mester-still-expects-rate-cuts-this-year-but-rules-out-may.html

Disney versus Nelson Peltz vote hinges on Vanguard, State Street, institutional investors

The Disney proxy fight pits Trian Partners’ Nelson Peltz against the board and CEO Bob Iger.

Read more at: https://www.cnbc.com/2024/04/02/disney-board-fight-hinges-on-vanguard-other-institutional-investors.html

These stocks offer growth at a reasonable price as the second quarter kicks off

Growth at a reasonable price, or GARP, opportunities exist across a variety of stock groups, CNBC found.

Read more at: https://www.cnbc.com/2024/04/02/these-stocks-offer-growth-at-a-reasonable-price-as-the-second-quarter-kicks-off.html

U.S. crude oil cracks $85 to hit highest level since October as geopolitical tensions mount

Oil prices on Tuesday rose to their highest level since October as investors closely monitored fresh supply threats.

Read more at: https://www.cnbc.com/2024/04/02/oil-prices-climb-to-five-month-high-on-escalating-middle-east-tensions.html

Intel discloses financials for foundry business

Intel plans to spend $100 billion on building or expanding chip factories in four U.S. states.

Read more at: https://www.cnbc.com/2024/04/02/intel-discloses-financials-for-foundry-business.html

GM U.S. vehicle sales fall 1.5% during the first quarter, underperforming other major automakers

The Detroit automaker said the decline was largely due to a 22.9% year-over-year decline in sales to fleet customers.

Read more at: https://www.cnbc.com/2024/04/02/gm-first-quarter-us-vehicle-sales.html

Bitcoin slides 5% as Treasury yields spike to highest level since November: 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, Austin Alexander, co-founder of LayerTwo Labs, reacts to bitcoin’s declines and shares his outlook for the second quarter of 2024.

Read more at: https://www.cnbc.com/video/2024/04/02/bitcoin-slides-5percent-as-treasury-yields-spike-to-highest-level-since-november-cnbc-crypto-world.html

Private equity firm Silver Lake to take entertainment company Endeavor private at $27.50 a share

Private equity firm Silver Lake announced Tuesday that it’s acquiring entertainment company Endeavor Group Holdings for $27.50 a share.

Read more at: https://www.cnbc.com/2024/04/02/private-equity-firm-silver-lake-to-take-entertainment-company-endeavor-private-at-27point50-a-share.html

Here’s what upgrading to a nicer home could cost you, and why it’s locking up the market

The average homeowner with a near record-low mortgage rate would see their monthly payment shoot up 132% in order to move up to a 25% more expensive home.

Read more at: https://www.cnbc.com/2024/04/02/cost-of-upgrading-to-a-nicer-home-locking-up-the-housing-market.html

Health insurer stocks slide as final Medicare Advantage rates disappoint

The rate adds more pressure on insurers already grappling with high medical costs and uncertainty after the cyberattack on UnitedHealth Group’s tech unit.

Read more at: https://www.cnbc.com/2024/04/02/health-insurer-stocks-slide-as-medicare-advantage-rates-disappoint.html

30 Year Old Man Stabbed To Death On North Philadelphia Subway Platform

It’s the latest in what can only be described as a disturbing string of violent attacks on and around Philadelphia-area SEPTA’s mass transit stops.

On Monday morning this week a man was stabbed to death on the platform at North Philadelphia’s Somerset Station on the city’s Market-Frankford line, according to KYW Philadelphia.

By the time police had responded to the call at the station on Kensington Avenue, the 30 year old suspect had suffered a stab wound to the chest. The victim died after being taken to the hospital, the report says.

Transit police are looking for a suspect who “was last seen wearing a gray Nike hoodie and red gloves, and carrying a light blue backpack.”

Less than a week ago we wrote about a shooting at a bus stop in Northeast Philadelphia.

The shooting t …

Read more at: https://www.zerohedge.com/markets/30-year-old-man-stabbed-death-north-philadelphia-subway-platform

RFK Jr. Says He Will Pardon Whistleblower Edward Snowden If Elected President

Authored by Stephen Katte via The Epoch Times,

Independent presidential candidate Robert F. Kennedy, Jr., claims he would pardon whistleblower Edward Snowden on his first day as president if elected and “investigate the corruption and crimes he exposed.”

Mr. Snowden is a former National Security Agency (NSA) contractor who leaked information about the agency’s widespread domestic surveillance operations during the Obama administration. He fled from the United States in 2013 amid possible espionage charges that could have seen him imprisoned for 30 years or more.

According to an April 1 video statement from Mr. Kennedy, Mr. Snowden performed a “critical public service by revealing to Americans for the first time …

Read more at: https://www.zerohedge.com/political/rfk-jr-says-he-will-pardon-whistleblower-edward-snowden-if-elected-president

Hey NASA! ISS Space Junk May Have Ripped Through South Florida Home

In early March, Jonathan McDowell of the Harvard–Smithsonian Center for Astrophysics posted on social media platform X that space junk from the International Space Station “reentered” the Earth’s atmosphere between “Cancun and Cuba.”

The EP-9 equipment pallet reentered at 1929 UTC over the Gulf of Mexico between Cancun and Cuba. This was witih the previous prediction window but a little to the northeast of the ‘most likely’ part of the path. A couple minutes later reentry and it would have reached Ft Myers

— Jonathan McDowell (@planet4589) March 8, 2024

Days later, an X user named “Alejandro Otero” said some of that space junk “tore through the roof and went thru 2 floors” of his Naples, Florida home.

Hello. Looks like one of those pieces missed Ft Myers and landed in my house in Naples.
Tore through the roof and went thru 2 floors. Almost his my son.
Can you please assist with getting NASA to connect with me? I’ve left messages and emails without a response. pic.twitter.com/Yi29f3EwyV

— Alejandro Otero (@Alejandro0tero) March 15, 2024

Read more at: https://www.zerohedge.com/technology/hey-nasa-iss-space-junk-may-have-ripped-through-south-florida-home

Two Weeks To Flatten Became Eight Months To Change The Election

Via The Brownstone Institute,

In 1845, Congress established Election Day as the Tuesday after the first Monday of November. The Act sought “to establish a uniform time” for Americans to cast their ballots for president. Historically, voters needed to provide a valid reason – such as illness or military service – to qualify for absentee ballots.

But Covid served as a pretext to overturn that tradition. Just 25% of votes in 2020 occurred at the polls on Election Day. Mail-in voting more than doubled. Key swing states eliminated the need to provide a valid reason to cast absentee ballots. The virus and racial justice became justifications to disregard verification methods like signature requirements.

Rejection rates for absentee ballots plummeted by more than 80% in some states as the Covid regime welcomed an unprecedented increase in mail-in voting. Politicians and media outlets ignored rampant voter fraud in the months leading up to the election. They treated concerns surrounding absentee voting as obscure conspiracy theories despite a bipartisan commission describing it as “the largest source of potential voter fraud” just a decade earlier.

It is now clear that the overhaul of our election system was a deliberate initiative from the outset of the pandemic response. In March 2020, when the Government’s official policy was still “two weeks to flatten the curve,” the administrative state began instituting the infrastructure to hij …

Read more at: https://www.zerohedge.com/political/two-weeks-flatten-became-eight-months-change-election

Taylor Swift joins world’s billionaire list

The singer is one of a record number of 2,781 billionaires with a collective wealth of $14.2 trillion.

Read more at: https://www.bbc.co.uk/news/business-68711921

Tesla ‘disaster’ with fewest deliveries since 2022

Elon Musk’s electric vehicle company is contending with major challenges, as rivals make gains.

Read more at: https://www.bbc.co.uk/news/business-68715906

Falls in chocolate and jam prices slow food inflation

Strong competition in March drove down some retail prices, but Easter treats were more expensive.

Read more at: https://www.bbc.co.uk/news/business-68711912

Money-making Ideas: ICICI Bank, BoB among Axis Securities’ top largecap stock picks for April

Axis Securities shares top largecap bets for April

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/money-making-ideas-icici-bank-bob-among-axis-securities-top-largecap-stock-picks-for-april/slideshow/108970955.cms

These 5 midcaps with lower than industry P/E turn outperformers. Time to buy?

These five BSE midcap stocks outperformed their specific industries

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/these-5-midcaps-with-lower-than-industry-p/e-turn-outperformers-time-to-buy/slideshow/108979758.cms

Tech View: Nifty forms two successive Doji candles. What traders should do on Wednesday

The short-term trend of Nifty is positive. Though it is placed at the crucial overhead resistance around 22,500 levels, there is no confirmation of any reversal pattern unfolding at the highs.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-forms-two-successive-doji-candles-what-traders-should-do-on-wednesday/articleshow/108976171.cms

This is how the Port of Baltimore will bounce back after bridge collapse

The Port of Baltimore has enough “natural advantages” to help it recover after the collapse of the Francis Scott Key Bridge, according to former White House port envoy and Maryland transportation secretary John D. Porcari.

Read more at: https://www.marketwatch.com/story/this-is-how-the-port-of-baltimore-will-bounce-back-after-bridge-collapse-6dbd208e?mod=mw_rss_topstories

Banker sees healthy M&A, IPO deal pipeline as private-equity firms look to deploy cash

Citizens Financial’s Don McCree says optimism has returned to the market as interest rates have stabilized.

Read more at: https://www.marketwatch.com/story/banker-sees-healthy-m-a-ipo-deal-pipeline-as-private-equity-firms-look-to-deploy-cash-dddf9cae?mod=mw_rss_topstories

Tax Day could put a strain on money markets. Here’s what Fed will be watching.

Tax day later this month could put a strain on money markets. The Fed will be watching, a Wall Street analyst says.

Read more at: https://www.marketwatch.com/story/april-tax-deadline-could-strain-u-s-banking-system-if-americans-owe-more-than-usual-f9b541b5?mod=mw_rss_topstories