Uranium Stocks Poised for Breakout As Nuclear Resurgence Gains Momentum

The world is finally realizing, after trying to rid itself of nuclear power following the 2011 Fukushima nuclear disaster, that the power of the atom will be the heart of clean, reliable electricity generation – not unreliable solar and wind. The latest sign that a nuclear renaissance is beginning to gain steam is news from Bloomberg on Monday morning that Tokyo Electric Power Co. will be loading fuel rods into one of the reactors at the Kashiwazaki Kariwa nuclear plant in Niigata prefecture.  The Kashiwazaki Kariwa is significant because…

Read more at: https://oilprice.com/Alternative-Energy/Nuclear-Power/Uranium-Stocks-Poised-for-Breakout-As-Nuclear-Resurgence-Gains-Momentum.html

Traders Place Bets On $250 Oil

Oil traders were making big bets amid geopolitical uncertainties, Bloomberg data shows, as 3 million barrels worth of options contracts snapped up by speculators. While the move is largely seen as a Hail Mary, about 3,000 lots of June $250 call options in US crude oil traded for just 1 cent each on Tuesday—trades that Bloomberg likened to a lottery ticket due to the unlikely event that it would actually pay out. But certainly one that would pay out handsomely, if it paid out at all. The trades, according to Bloomberg, were apparently paired…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Traders-Place-Bets-On-250-Oil.html

Magnesium Battery Breakthrough Could Challenge Lithium-Ion Dominance

Tohoku University researchers have made a groundbreaking advancement in battery technology, developing a novel cathode material for rechargeable magnesium batteries that enables efficient charging and discharging even at low temperatures. Details of the findings were published in the Journal of Materials Chemistry A. This innovative material, leveraging an enhanced rock-salt structure, promises to usher in a new era of battery energy storage solutions that are more affordable, safer, and higher in capacity. Unleashing Disordered Rocksalt Oxides…

Read more at: https://oilprice.com/Energy/Energy-General/Magnesium-Battery-Breakthrough-Could-Challenge-Lithium-Ion-Dominance.html

Australian EVs Lag Hybrid Vehicle Sales

Sales of hybrid vehicles in Australia are outpacing that of electric vehicles, a new report released Tuesday night showed. Hybrids outsold EVs three quarters in a row, with 95,129 vehicles sold. Electric vehicle sales in Australia sold just 69,593 over that same period, the quarterly EV Index published by the Australian Automobile Association showed. The report also showed a declining sales trend for ICE vehicles, which fell more than 8% in the fourth quarter of last year, although their overall market share is still 78.18% of total vehicle…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Australian-EVs-Lag-Hybrid-Vehicle-Sales.html

Strike Threatens To Halt Production at Key UK Steel Plant

Via Metal Miner   Tata Steel workers associated with the Unite Trade Union at Port Talbot recently voted to strike over plans to replace the site’s two blast furnaces with electric arc furnaces. The decision immediately led to discussions about the near and long-term future of the UK steel industry as well as Tata’s production capabilities. “Around 1,500 Tata steelworkers based in Port Talbot and Newport Llanwern have voted decisively for industrial action over the company’s plan to close its blast furnaces and shed…

Read more at: https://oilprice.com/Metals/Commodities/Strike-Threatens-To-Halt-Production-at-Key-UK-Steel-Plant.html

Oil Exports or Carbon Credits: The Global South’s Dilemma

Earlier this month, the Science Based Targets initiative caused a revolt among its employees when it announced it would allow the use of carbon credits to offset Scope 3 emissions. The revolt promptly made SBTi change its mind under pressure from those claiming carbon credits were no way to advance the net-zero agenda because all they did was allow emitters to keep emitting. A lot of poor countries would beg to differ, beginning with Guyana—the oil hotspot. Guyana’s president Irfaan Ali made headlines this month…

Read more at: https://oilprice.com/Energy/Energy-General/Oil-Exports-or-Carbon-Credits-The-Global-Souths-Dilemma.html

China’s Crude Oil Imports Hit A Record High in 2023

China’s crude oil imports hit a record high in 2023, rising by 10% year-over-year and breaking the previous record from 2020 when the world’s top crude oil importer took advantage of the price crash to gorge on cheap crude. Last year, China’s crude oil imports averaged 11.3 million barrels per day (bpd), up by 10% compared to 2022, according to Chinese customs data compiled by Bloomberg and the U.S. Energy Information Administration (EIA). After China lifted the Covid-related restrictions in early 2023, Chinese refiners…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Chinas-Crude-Oil-Imports-Hit-A-Record-High-in-2023.html

China Raises Gasoline and Diesel Prices amid Soaring Crude Oil Prices

China is raising from Wednesday the retail prices of gasoline and diesel to reflect the recent increase in international crude oil prices, the Xinhua news agency reported on Tuesday, citing the top economic planner of the world’s second-largest economy. Beginning on April 17, retail gasoline prices will be raised by $27.60 (200 Chinese yuan) per ton, and diesel prices will go up by $27 (195 yuan) per ton, according to a decision of China’s National Development and Reform Commission (NDRC). Under the current pricing mechanism…

Read more at: https://oilprice.com/Energy/Energy-General/China-Raises-Gasoline-and-Diesel-Prices-amid-Soaring-Crude-Oil-Prices.html

Nigeria Boosts Oil Reserves by 1 Billion Barrels

Nigeria’s crude oil reserves have increased by 1 billion barrels while natural gas reserves have jumped by 2.573 trillion cubic feet (TCF), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said. As of January 1, 2024, Nigeria’s combined proven reserves of crude oil and condensate stood at 37.50 billion barrels, while the reserves of associated natural gas and non-associated gas stood at 209.26 trillion cubic feet, NUPRC’s chief executive Gbenga Komolafe said. Of the oil and condensate reserves, crude…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Nigeria-Boosts-Oil-Reserves-by-1-Billion-Barrels.html

Institutional Investors Double Down On Oil Despite Divestment Pledges

The campaign for institutional investors to divest from oil giants like BP and Shell hasn’t made any progress due to the way index providers dominate the market, a new study has found. Only 60 institutional investors worldwide have sold all of their shares in BP and Shell, representing about three per cent and four per cent of their shareholders, a paper published earlier this year by David Whyte of Queen Mary University of London has revealed. These shares have all been promptly bought up by massive asset managers like Blackrock and Vanguard,…

Read more at: https://oilprice.com/Energy/Crude-Oil/Institutional-Investors-Double-Down-On-Oil-Despite-Divestment-Pledges.html

Top Indian Refiner Seeks Buyers of U.S. Crude as Russian Shipments Rebound

India’s largest private refiner, Reliance Industries, has sought to resell U.S. WTI crude within weeks of buying it, anonymous trading sources familiar with the matter told Bloomberg, as signs have started to emerge that more Russian crude may have resumed heading to India.   Last week, Reliance tried to sell WTI Midland for loading in May to other potential buyers in Asia, Bloomberg’s sources said. Amid issues with payments and stricter U.S. sanctions on Russian crude exports, including sanctions on Russia’s state tanker…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Top-Indian-Refiner-Seeks-Buyers-of-US-Crude-as-Russian-Shipments-Rebound.html

Oil Prices Settle Near $90 Despite Rising Geopolitical Risk

Oil prices have fallen back at the start of this week despite heightened geopolitical risk after Iran attacked Israel with more than 300 missiles and drones. Traders appear to be focused on fundamentals, awaiting a more tangible event for oil markets before pushing prices any higher.- For the first time in more than a year, the US count of drilled-but-uncompleted wells (DUCs) rose in March to 4,522, up 9 wells compared to February, signaling that US production growth is stalling.- Usually, when companies start to build up fracklogs, it is an indication…

Read more at: https://oilprice.com/Energy/Energy-General/Oil-Prices-Settle-Near-90-Despite-Rising-Geopolitical-Risk.html

Russia’s Seaborne Crude Oil Exports Hit 11-Month High

Russia exported the highest level of oil from its ports in 11 months in the week to April 14, as export terminals likely shipped more crude that couldn’t be processed at refineries knocked offline by Ukrainian drone attacks, tanker-tracking data monitored by Bloomberg showed on Tuesday.  In the second week of April, Russia’s crude oil shipments jumped by as much as 560,000 barrels per day (bpd) to 3.95 million bpd—the highest level since May last year, according to the data reported by Bloomberg’s Julian Lee. …

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russias-Seaborne-Crude-Oil-Exports-Hit-11-Month-High.html

Germany’s Oil and Gas Production Continues to Drop

German oil and gas production fell again in 2023 compared to 2022, industry association BVEG said on Tuesday, calling for increased domestic production to reduce dependence on more emissions-generating LNG imports. Last year, Germany’s oil production dropped by 5.9% year-over-year, while natural gas output slumped by 10.4%.  The share of domestic gas supply of total German supply was 5.7%, while domestic oil production met about 2.2% of Germany’s oil consumption in 2023, figures by BVEG showed. Germany’s oil…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Germanys-Oil-and-Gas-Production-Continues-to-Drop.html

Fear of High Gasoline Prices May Deter Biden From Toughening Sanctions on Iran

The Biden Administration is unlikely to attempt to dramatically curtail Iranian oil exports after Iran’s attack on Israel, due to concerns about higher oil and gasoline prices in an election year and an unwillingness to further harm U.S.-China relations as Beijing is Iran’s key remaining oil customer, analysts have told Reuters. The U.S. toughening the sanctions enforcement against Iranian oil exports was expected by analysts after Iran launched drones on Israel this weekend. Most investment banks and analysts do not see a major escalation…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Fear-of-High-Gasoline-Prices-May-Deter-Biden-From-Toughening-Sanctions-on-Iran.html

Fed Chair Powell says there has been a ‘lack of further progress’ this year on inflation

Powell said that while inflation continues to make its way lower, the current state of policy should remain intact.

Read more at: https://www.cnbc.com/2024/04/16/powell-cites-lack-of-progress-this-year-in-reaching-feds-inflation-goal.html

S&P 500 closes lower as Powell warns rates need to stay high, Dow snaps 6-day losing streak: Live updates

Wall Street is coming off a losing day after a rise in yields and escalating Middle East tensions outweighed strong retail sales data.

Read more at: https://www.cnbc.com/2024/04/15/stock-market-today-live-updates.html

Biden fund gets big donation from son of Republican megadonor Larry Ellison

The donation by David Ellison backing President Joe Biden is a coup for allies of the incumbent Democrat, who will face Donald Trump in the November election.

Read more at: https://www.cnbc.com/2024/04/16/biden-fund-gets-money-from-son-of-gop-donor-larry-ellison.html

Trump trial gets six jurors seated in New York

Donald Trump is charged in New York court with falsifying records related to a hush money payment to porn star Stormy Daniels before the 2016 election.

Read more at: https://www.cnbc.com/2024/04/16/trump-trial-jury-selection-continues-in-criminal-hush-money-case.html

Beware these stocks forming the feared death cross — including 2 major consumer brands

These stocks are approaching a death-cross chart pattern and could be poised for a bearish trend ahead.

Read more at: https://www.cnbc.com/2024/04/16/beware-these-stocks-forming-the-dreaded-death-cross-.html

Market fear signals are flashing red as stocks pull back from record highs

Several key gauges of fear in the market are up, indicating more caution from investors.

Read more at: https://www.cnbc.com/2024/04/16/market-fear-signals-are-flashing-red-as-stocks-pull-back-from-record-highs.html

Bitcoin briefly drops below $62,000 as economic and geopolitical pressures loom: 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, Haider Rafique, chief marketing officer at OKX, discusses the company’s new Layer 2 meant to bring more liquidity and assist developers in bringing dApps to the OKX community.

Read more at: https://www.cnbc.com/video/2024/04/16/bitcoin-drops-economic-geopolitical-pressures-loom-crypto-world.html

Planet Fitness shares fall as company announces new CEO

Planet Fitness has appointed a new CEO effective June 10 after a monthslong search for new leadership.

Read more at: https://www.cnbc.com/2024/04/16/planet-fitness-names-new-ceo.html

Republican governors from six states condemn UAW campaigns, citing potential for layoffs

The joint statement was signed by governors in Alabama, Georgia, Mississippi, South Carolina, Tennessee and Texas.

Read more at: https://www.cnbc.com/2024/04/16/republican-governors-condemn-united-auto-workers-campaigns.html

‘Iran is in for the long haul’ with oil tanker hijacks, expert says, as U.S. considers more sanctions

China’s need for Iranian oil rules out Strait of Hormuz closure, but sowing ‘chaos’ as a strategy and sanctions threats will lead Iran to hold hijacked tankers.

Read more at: https://www.cnbc.com/2024/04/16/iran-is-in-for-the-long-haul-with-oil-tanker-hijacks-expert-says.html

Trump Media shares close down more than 14%, company says Truth Social to launch TV streaming

Trump Media shares have plunged in the two days that Donald Trump has been in a New York court for jury selection in his criminal hush money trial.

Read more at: https://www.cnbc.com/2024/04/16/trump-media-shares-fall-7percent-after-saying-truth-social-to-launch-tv-streaming-platform.html

What everyday taxpayers can learn from the Biden, Harris 2023 tax returns

President Joe Biden and Vice President Kamala Harris on Monday released their 2023 tax returns. Here are lessons for everyday taxpayers, according to experts.

Read more at: https://www.cnbc.com/2024/04/16/what-taxpayers-can-learn-from-the-biden-harris-2023-tax-returns.html

Andreessen Horowitz raises $7.2 billion, a sign that tech startup market may be bouncing back

Andreessen Horowitz raised $7.2 billion for investments in growth, artificial intelligence and other areas, but hasn’t announced new funding for its crypto arm.

Read more at: https://www.cnbc.com/2024/04/16/andreessen-horowitz-raises-7point2-billion-across-five-funds-.html

Blackstone CEO Jumps On ‘The Next AI Trade’

US power grid regulators and utilities are warning about energy shortfalls. Projections for US electricity demand growth over the next five years have doubled from about one year ago, primarily because of the expected explosion of artificial intelligence data centers, federally subsidized manufacturing plants, and the government-fueled electric vehicle transition.

Source: NERC – 2022 Long-Term Reliability Assessment (as of December-2022). Grid Strategies –

Read more at: https://www.zerohedge.com/markets/blackstone-ceo-jumps-next-ai-trade

What If The Fed’s Hikes Are Actually Sparking US Economic Boom?

Authored by Ye Xie via Bloomberg,

As the US economy hums along month after month, minting hundreds of thousands of new jobs and confounding experts who had warned of an imminent downturn, some on Wall Street are starting to entertain a fringe economic theory.

What if, they ask, all those interest-rate hikes the past two years are actually boosting the economy? In other words, maybe the economy isn’t booming despite higher rates but rather because of them.

It’s an idea so radical that in mainstream academic and financial circles, it borders on heresy — the sort of thing that in the past only Turkey’s populist president, Recep Tayyip Erdogan, or the most zealous disciples of Modern Monetary Theory would dare utter publicly.

But the new converts — along with a handful who confess to being at least curious about the idea — say the economic evidence is becoming impossible to ignore. By some key gauges — GDP, unemployment, corporate profits — the expansion now is as strong or even stronger than it was when the Federal Reserve first began lifting rates.

This is, the contrarians argue, because the jump in benchmark rates from 0% to over 5% is providing Americans with a significant stream of income from their bond investments and savings accounts for the first time in two decades. “The reality is people have more money,” says Kevin Muir, a former derivatives trader at RBC Capital Markets who now writes an investing newsletter called The MacroTourist.

Read more at: https://www.zerohedge.com/markets/what-if-feds-hikes-are-actually-sparking-us-economic-boom

Did UAE’s Cloud-Seeding Operation Flood Dubai?

How it started with UAE’s cloud seeding operations:

How it’s going:

Thread of best videos I’ve been sent of the current situation in Dubai from the storm. pic.twitter.com/sK6aRL6Jdu

— Charles Read (@chatwithcharles) April 16, 2024

Not so well…

#VIDEO: Severe rain and flooding in #Dubai today
pic.twitter.com/9Auyq5MyDA

— Saudi Gazette (@Saudi_Gazette) April 16, 2024

All inbound flights to Dubai International Airport were diverted on Tuesday evening.

Read more at: https://www.zerohedge.com/weather/did-uaes-cloud-seeding-operation-flood-dubai

King Abdullah Warns Israel He Won’t Let Jordan Become “The Theater Of A Regional War”

The threat of a broader Middle East-wide war looms as Israel mulls retaliation for the massive weekend Iran drone and missile attack, but so far on Tuesday regional actors are strongly signaling they want to see a return to the status quo.

Saudi Arabia has rejected reports that its military shot down some of the inbound drones and missiles launched from Iran Saturday night. “There is no official website that published a statement about Saudi participation in intercepting attacks against Israel,” Saudi government sources told Al Arabiya, after Israeli media claims circulated.

Jordan too is seeking to present itself as a neutral power in the conflict, despite confirming over the weekend that it did shoot down some projectiles sent from Iran that flew into its airspace during the earlier attack.

Read more at: https://www.zerohedge.com/geopolitical/king-abdullah-warns-israel-he-wont-let-jordan-become-theater-regional-war

US expects to impose further sanctions on Iran ‘in the coming days’

Treasury Secretary Janet Yellen says Iran’s oil exports “remain in focus as a possible area” they could address.

Read more at: https://www.bbc.co.uk/news/live/world-middle-east-68822407

Potential new orders for struggling train firm

The train firm says it is in “intense” talks with the government and Transport for London.

Read more at: https://www.bbc.co.uk/news/uk-england-derbyshire-68822830

Birmingham Airport flights disrupted by incident

West Midlands Police says the airport has now reopened as there is no wider risk to the public.

Read more at: https://www.bbc.co.uk/news/uk-england-birmingham-68831165

Tech View: Nifty charts hint at recovery from support levels. What should traders do on Thursday

The short-term trend remains weak. But, having placed near the cluster support of around 22,000 levels, one may expect an upside bounce from the lows in coming sessions. Immediate resistance is at 22260 levels, said Nagaraj Shetti of HDFC Securities.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-charts-hint-at-recovery-from-support-levels-what-should-traders-do-on-thursday/articleshow/109348618.cms

These 7 mutual funds held over Rs 5,000 crore cash in March

The largest fund house by assets managed was sitting on Rs 23,384.81 crore cash in March.

Read more at: https://economictimes.indiatimes.com/mf/analysis/these-7-mutual-funds-held-over-rs-5000-crore-cash-in-march/slideshow/109349873.cms

These 8 equity mutual funds receive over Rs 1,000 crore inflows in March

ETMutualFunds analysed the AUM trend of equity mutual funds and found that 8 schemes have received more than Rs 1,000 crore inflows in March.

Read more at: https://economictimes.indiatimes.com/mf/analysis/these-8-equity-mutual-funds-receive-over-rs-1000-crore-inflows-in-march/slideshow/109335140.cms

Inflation risks and Middle East tensions leave traders and investors ‘waiting for the next shoe to drop’

‘Scared’ and ‘very nervous’ among words used to describe the mindset within financial markets

Read more at: https://www.marketwatch.com/story/inflation-risks-and-middle-east-tensions-leave-traders-and-investors-waiting-for-the-next-shoe-to-drop-f8ada598?mod=mw_rss_topstories

10-year, 30-year Treasury yields end at November highs after IMF upgrades U.S. growth forecast

Long-term Treasury yields finished at new five-month highs on Tuesday, after Federal Reserve Chair Jerome Powell indicated that policy makers will likely need to delay any interest-rate cuts and the International Monetary Fund projected faster economic growth for the U.S. this year.

Read more at: https://www.marketwatch.com/story/10-year-treasury-yield-at-fresh-5-month-high-after-robust-data-knock-rate-cut-hopes-f98e3f94?mod=mw_rss_topstories

Rents have finally stopped skyrocketing. They’re now stuck at a price most Americans can’t afford.

Rent growth is slowing, but many cost-burdened households see no respite from rising prices.

Read more at: https://www.marketwatch.com/story/rents-have-finally-stopped-skyrocketing-theyre-now-stuck-at-a-price-most-americans-cant-afford-fd74064a?mod=mw_rss_topstories