Breakthrough in Dolomite Crystal Growth Solves 200-Year-Old Mystery

University of Michigan and Hokkaido University in Sapporo, Japan researchers have solved a 200 year old mystery about how to grow a common mineral in the lab as it formed naturally. But the researchers have finally pulled it off, thanks to a new theory developed from atomic simulations. The reporting paper has been published in the journal Science. Their success resolves a long-standing geology mystery called the ‘Dolomite Problem.’ Dolomite – a key mineral in the Dolomite mountains in Italy, Niagara Falls, the White Cliffs of…

Read more at: https://oilprice.com/Energy/Energy-General/Breakthrough-in-Dolomite-Crystal-Growth-Solves-200-Year-Old-Mystery.html

Russia’s Oil and Gas Revenues Dip by 24% in 2023

Russia’s oil and gas revenues slumped by 23.9% last year compared to 2022 as lower oil prices and reduced pipeline gas exports weighed on budget income from fossil fuels, Russian Finance Ministry data showed on Thursday. Russian revenues from oil and gas fell to $99.3 billion (8.822 trillion Russian rubles) in 2023, down by 23.9% on the year. The decline was the result of lower oil prices compared to 2022, lower prices for Russia’s flagship crude grade Urals in early 2023, and lower natural gas prices and exports, the Russian…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russians-Oil-and-Gas-Revenues-Dip-by-24-in-2023.html

Tajikistan Advances Digital Infrastructure With Help From China

Following up on a recent pledge to drastically improve internet services, Tajikistan’s communications regulator has begun working with several international companies to overhaul core infrastructure. The most notable conversation is happening with China’s Huawei. In the first half of December, the Tajik government and the Chinese company’s local representative office, Huawei Technologies Tajikistan, signed a memorandum of cooperation that will see the latter take the lead in a project to upgrade or install 7,600 base stations…

Read more at: https://oilprice.com/Geopolitics/International/Tajikistan-Advances-Digital-Infrastructure-With-Help-From-China.html

German Steelmaker Invests €100 Million in Modernizing Furnace

Via Metal Miner   German steelmaking group Salzgitter recently blew in Blast Furnace A at its Flachstahl works in Lower Saxony, allowing it to produce up to 2 million MT of pig iron. This came after the company completed a relining that lasted 100 days. On January 3, Saltzgitter noted that the reline included 3,000 metric tons of bricks and other refractory materials and carried a price tag of €100 million (almost $110 million). The group added that the reline also included modernized control technology. Relines are cost-intensive due…

Read more at: https://oilprice.com/Metals/Commodities/German-Steelmaker-Invests-100-Million-in-Modernizing-Furnace.html

Iran Seizes U.S. Oil Tanker in Act of Revenge for 1M Barrels Seized in 2023

An American oil tanker reported to have been hijacked in the Gulf of Oman earlier on Thursday was seized by Iran in retribution for the U.S. seizure of 1 million barrels of Iranian oil last year.  The Marshall Islands-flagged oil tanker, the St. Nikolas, was previously named the Suez Rajan, which was entangled in a sanctions dispute for transporting Iranian oil that eventually led to the seizure of that oil in 2023.  The Suez Rajan had been accused by the U.S. of violating sanctions, with Iran’s Islamic Revolutionary Guard…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Iran-Seizes-US-Oil-Tanker-in-Act-of-Revenge-for-1M-Barrels-Seized-in-2023.html

The Path to Cutting 100 Million Tons of Methane Emissions

Global methane emissions could be cut by tens of millions of tonnes within a single year – if oil and gas producers target the world’s top methane-emitting oil and gas fields. A recent study conducted by Rystad Energy, employing satellite detection and field-level data analysis on upstream oil and gas methane (CH4) emissions, has unveiled that more than 100 individual oil and gas fields, primarily located in the Middle East, Africa and Asia, contributed less than 1% of global production while emitting significant amounts of methane…

Read more at: https://oilprice.com/Energy/Energy-General/The-Path-to-Cutting-100-Million-Tons-of-Methane-Emissions.html

Hertz’s Big Move Into EVs Turns Out To Be A Dud

The Hertz car rental company is selling roughly one-third of its electric vehicle fleet, the company said in a Thursday regulatory filing to the SEC, according to the Wall Street Journal—highlighting the risk of its first-mover strategy when it comes to EVs. The proceeds from the sale of some 20,000 of its EVs will be used to purchase ICE vehicles, the company said. Hertz made the decision to sell off a large portion of the EV inventory it holds due to weaker demand for EVs from its rental customers. Hertz purchased a sizeable Tesla fleet…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Hertzs-Big-Move-Into-EVs-Turns-Out-To-Be-A-Dud.html

Platts Survey: OPEC+ Raised Oil Output in December

Crude oil production from the OPEC+ countries increased by 130,000 barrels per day (bpd) to 42.73 million bpd in December 2023, as Iraq and African producers lifted their crude output, the Platts survey by S&P Global Commodity Insights showed on Thursday. OPEC saw its crude oil output rise by as much as 160,000 bpd last month compared to November, for a total of 27.98 million bpd. The ten non-OPEC producers of the OPEC+ alliance, on the other hand, pumped 14.75 million bpd, down by 30,000 bpd from November, according to the survey. …

Read more at: https://oilprice.com/Energy/Crude-Oil/Platts-Survey-OPEC-Raised-Oil-Output-in-December.html

Enbridge Shuns the U.S. Offshore Wind Sector

Canadian pipeline operator Enbridge plans to boost its presence in offshore wind in Europe but will shy away from investments in the United States, where escalating costs and supply chain problems have been plaguing projects, a top Enbridge executive told Reuters. Enbridge, whose main business is oil and liquids transportation via pipeline, generates around 3% of its core earnings from its renewables business. Enbridge has invested in wind energy projects in five different countries, totaling 4,870 MW (gross)—or 2,117 MW (net)—of wind-power…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Enbridge-Shuns-the-US-Offshore-Wind-Sector.html

Uranium’s “Third Bull Market” Set to Shine in 2024

So far this week, spot prices for yellowcake – uranium concentrate used in nuclear power generation – reached a new 16-year high, climbing to $92.45 per pound. Reflecting on our December 2020 note to readers in “Buy Uranium: Is This The Beginning Of The Next ESG Craze,” yellowcake prices have risen 217%.  The uranium market is only getting hotter, and continued tightness could push prices over $100, analysts from Bank of America and Berenberg Bank wrote in two separate notes.  BofA’s metals and mining team said tightness in uranium markets…

Read more at: https://oilprice.com/Alternative-Energy/Nuclear-Power/Uraniums-Third-Bull-Market-Set-to-Shine-in-2024.html

WoodMac: Global Oil Demand to Rise by 2 Million Bpd in 2024

Oil demand will continue to set records this year, with global demand growth expected at nearly 2 million barrels per day (bpd) compared to 2023, Wood Mackenzie said in a report on Thursday. China will account for around 25% of the worldwide growth in oil demand, according to the energy consultancy.   Total global oil demand will average 103.5 million bpd for 2024, WoodMac said. “Much of the growth [in oil demand] will be coming in the second half of the year,” Alan Gelder, Senior Vice President of Research at Wood Mackenzie, said…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/WoodMac-Global-Oil-Demand-to-Rise-by-2-Million-Bpd-in-2024.html

Fake SEC Tweet Sends Bitcoin on a Rollercoaster Ride

Cryptocurrency markets experienced a rollercoaster ride following a false announcement on the U.S. Securities and Exchange Commission’s (SEC) official social media account, X.   The misleading post claimed that the SEC had approved the first-ever U.S. spot bitcoin exchange-traded funds (ETFs). The SEC promptly clarified that its X account was briefly compromised, and the posted message about approving bitcoin ETFs was unauthorized and inaccurate.  Bitcoin’s price surged to nearly $48,000 in response to the fake announcement…

Read more at: https://oilprice.com/Finance/the-Markets/Fake-SEC-Tweet-Sends-Bitcoin-on-a-Rollercoaster-Ride.html

New $7.4 Billion Merger Will Create the Biggest U.S. Natural Gas Producer

Chesapeake Energy Corporation and Southwestern Energy have agreed to merge in an all-stock transaction valued at $7.4 billion, which will create the biggest U.S. natural gas producer by market value and production. The all-stock deal is valued at $6.69 per share, based on Chesapeake’s closing price on January 10, 2024, Chesapeake said on Thursday. Under the terms of the agreement, Southwestern shareholders will receive 0.0867 shares of Chesapeake common stock for each share of Southwestern common stock outstanding at closing.   …

Read more at: https://oilprice.com/Latest-Energy-News/World-News/New-74-Billion-Merger-Will-Create-the-Biggest-US-Natural-Gas-Producer.html

Oil Prices Surge Following Oil Tanker Hijacking in Gulf of Oman

Tensions in the Middle Eastern shipping lanes continued to run high on Thursday amid reports of a hijacked oil tanker in the Gulf of Oman, which was boarded by masked individuals and forced to alter course toward Iran.  The UK Marine Trade Operations (UKMTO) said on Thursday that it had received a report of a vessel being boarded by 4-5 armed unauthorized persons in an area east of Sohar, Oman. “Unauthorised boarders are reported to be wearing military style black uniforms with black masks,” the UKMTO said.  The…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Surge-Following-Oil-Tanker-Hijacking-in-Gulf-of-Oman.html

Global Renewable Energy Capacity Additions Jumped by Nearly 50% in 2023

Renewable capacity installations surged by almost 50% last year as global renewable energy capacity hit nearly 510 gigawatts (GW), led by solar photovoltaics and a jump in new Chinese installations, the International Energy Agency (IEA) said in a new report on Thursday. New renewable capacity saw the fastest growth rate in the past two decades, and 2023 was the 22nd year in a row that renewable capacity additions have set a new record, the IEA said in its Renewables 2023 report. Renewable capacity growth in Europe, the United States, and Brazil…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Global-Renewable-Energy-Capacity-Additions-Jumped-by-Nearly-50-in-2023.html

Bitcoin ETFs begin trading on U.S. exchanges

Investors and financial advisors will be watching closely to see not only how the bitcoin ETFs perform, but also how well they track the price of bitcoin.

Read more at: https://www.cnbc.com/2024/01/11/bitcoin-etfs-begin-trading-on-us-exchanges-posting-gains-on-first-day-as-crypto-prices-rise.html

U.S. deficit tops half a trillion dollars in the first quarter of fiscal year

The budget deficit totaled almost $510 billion, following a shortfall of $129.4 billion in December alone.

Read more at: https://www.cnbc.com/2024/01/11/us-deficit-tops-half-a-trillion-dollars-in-the-first-quarter-of-fiscal-year.html

Google cuts hundreds of jobs across engineering, hardware teams

Google cut several hundred jobs across the company late Wednesday across engineering and hardware teams.

Read more at: https://www.cnbc.com/2024/01/11/google-layoffs-hundreds-of-jobs-cut-across-engineering-and-hardware.html

S&P 500 closes little changed Thursday after hotter-than-anticipated inflation report: Live updates

Stocks ended Thursday near the flat line after a fresh round of inflation data reflected an uptick in consumer prices for December.

Read more at: https://www.cnbc.com/2024/01/10/stock-market-today-live-updates.html

CNBC Pro Talks: Top strategists and stock pickers share their 2024 market playbook

The S&P 500 ended 2023 with a bang, up 24% on the year despite persistent recession warnings, a regional banking crisis, widespread tech layoffs, and ‘higher-for-longer’ interest rates. Can the stock market momentum continue into 2024? Can the rally broaden out past the so-called “Magnificent 7” stocks that dominated the past year? CNBC’s Bob Pisani hosts the first CNBC Pro Talk of 2024 alongside an all-star panel of strategists and stock-pickers. Oppenheimer’s John Stoltzfus, Requisite Capital Management’s Bryn Talkington and Capital Wealth Planning’s Kevin Simpson each break down their 2024 market outlooks and field stock-specific questions from CNBC PRO subscribers.

Read more at: https://www.cnbc.com/video/2024/01/11/cnbc-pro-talks-top-strategists-and-stock-pickers-share-their-2024-market-playbook.html

New York and California make retail theft a 2024 priority: ‘We mean business’

New York and California have named retail crime as a top priority in 2024 and are proposing new legislation and funding to tackle theft.

Read more at: https://www.cnbc.com/2024/01/11/new-york-and-california-make-retail-theft-top-2024-priority.html

CVS to close ‘select’ pharmacies in Target stores in the coming months

The CVS pharmacy closures in Target stores will begin in February and finish by the end of April, a spokesperson said.

Read more at: https://www.cnbc.com/2024/01/11/cvs-to-close-select-pharmacies-in-target-stores-in-the-coming-months.html

Spot bitcoin ETFs swing in first day of trading, but show strong investor interest: 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, Sylvia Jablonski, the CEO and CIO of Defiance ETFs, explains what the launch of spot bitcoin ETFs means for the crypto industry and Wall Street.

Read more at: https://www.cnbc.com/video/2024/01/11/spot-bitcoin-etfs-swing-first-day-trading-show-strong-investor-interest-cnbc-crypto-world.html

Amazon’s Audible unit lays off about 5% of staff

Audible CEO Bob Carrigan said the move was being made in an effort to position the unit “for continued success,” according to a memo viewed by CNBC.

Read more at: https://www.cnbc.com/2024/01/11/amazons-audible-unit-lays-off-about-5percent-of-staff.html

Trump trial live updates: Ex-president insults judge in courtroom rant

Donald Trump is accused by New York Attorney General Letitia James of a yearslong fraud involving real estate valuations by the Trump Organization.

Read more at: https://www.cnbc.com/2024/01/11/trump-fraud-trial-closing-arguments-in-new-york-court.html

Iran seizes oil tanker involved in U.S. dispute off coast of Oman

Iran has captured an oil tanker previously involved in a Washington-Tehran dispute over carrying U.S.-sanctioned crude, state media said.

Read more at: https://www.cnbc.com/2024/01/11/ship-hijacked-in-gulf-of-oman-changes-course-for-iran-waters.html

Big Tech had a huge 2023. Why it may be time to part with some of your winners

Portfolio rebalancing is the right thing to do, but few are thrilled to part with their hottest holdings.

Read more at: https://www.cnbc.com/2024/01/11/big-tech-had-a-huge-2023-it-may-be-time-to-part-with-some-of-your-winners.html

UK, US Preparing To Carry Out Offensive Strikes On Yemen’s Houthis: Reports

Chatter and rumors are growing on reports that the Western coalition is cobbling together a plan to go on the offensive against continuing Houthi attacks in the Red Sea… “If approved in the emergency UK cabinet meeting tonight, the military action will be in partnership with the US against Houthi forces in Yemen,” journalist Halah Jaber, formerly of the Sunday Times, has reported on X.

Additionally, al-Arabiya has reported Thursday afternoon that the US military is “stepping up its contingency plans for a response to Yemen’s Houthis in the near future” while also noting that Washington’s “multiple warnings” have failed to stop the attacks.

BREAKING: #UK preparing to carry out strikes against #Yemen’s #Ansarullah

— Hala Jaber (@HalaJaber) January 11, 2024

⚡️#BREAKING Rishi Sunak is holding a full cabinet meeting at 7.45 this evening

Ministers believe it’s about UK and US …

Read more at: https://www.zerohedge.com/geopolitical/houthis-vow-expanded-attacks-us-navy-bigger-tuesdays-barrage

“Too Late…” – The Fed’s QE-Comeback Could Be Dangerous

Authored by Melissa Davies, chief economist at Redburn Atlantic, op-ed via The FT,

The Fed has already started down the path to resuming quantitative easing.

The question is whether they do so before, or after, upending the highly-leverage hedge fund basis trade that has been supporting the Treasury market.

Back in 2018, quantitative tightening – the undoing of Fed asset purchases – was a simple affair. As bonds matured on the asset side of the Fed balance sheet, banks would draw down reserves on the liability side to buy bonds. The question then was how low reserves could go before they would become ‘scarce’ and the Fed would have to stop QT. In the end, the Fed went too far, causing strains in overnight markets. They reversed the ship in 2019 and r …

Read more at: https://www.zerohedge.com/markets/too-late-feds-qe-comeback-could-be-dangerous

Hertz Begins Dumping 20,000 EVs In Shift Back To Petrol Cars

Hertz Begins Dumping 20,000 EVs In Shift Back To Petrol CarsIn 2021, rental car company Hertz Global Holdings Inc. tapped Tom Brady to promote its massive push to electrify its fleet.

At the time, Hertz placed a huge order for 100,000 Tesla Model 3 vehicles.

Fast forward to late October, when Hertz Chief Executive Stephen Scherr told investors on a third-quarter earnings call that the company would start reducing its EV fleet because of high repair costs compared …

Read more at: https://www.zerohedge.com/markets/hertz-begins-dumping-20000-evs-shift-back-petrol-cars

“We Need To Find Ways To Suppress Douglas Murray & Joe Rogan”: Inside A Counter-Terrorism Course For UK Civil Servants

Authored by Anna Stanley via FathomJournal.org,

Scandalous Indoctrination: Inside a Kings College Counter-Terrorism Course for UK Civil ServantsA former civil servant, Anna Stanley reports on a counter-terrorism course she attended which she found a deeply, existentially depressing experience. She argues that ‘prestigious’ educational institutions are delivering politically biased, anti-government training, amounting to indoctrination and that extremism and terrorism are misunderstood by civil servants to the point of being a national security risk.

I recently attended a Kings College course called ‘Issues in Countering Terrorism’. Organised by the Centre for Defence Studies, it was designed for civil servants and professionals in Counter Terrorism. Staff from the Foreign Office, Ministry of Justice, Ministry of Defence and Home Office attended. Facilitating this relatively new 3 day course were senior lecturers from the Security Studies Department.

The civil servants were given presentations by Kings College lecturers while Visiting Senior Research Fellows and Professors also spoke. These included those formerly holding positions such as Permanent Secretary of the Home Office and Director of GCHQ, Defence Minister and Foreign Office Director.

The course was a deeply, existentially depressing experience.

‘Prestigious’ educational …

Read more at: https://www.zerohedge.com/political/we-need-find-ways-suppress-douglas-murray-joe-rogan-inside-counter-terrorism-course-uk

Post Office scandal: Investigator denies claims of ‘mafia’ behaviour

Stephen Bradshaw comes face to face with sub-postmasters he investigated at the Horizon scandal inquiry.

Read more at: https://www.bbc.co.uk/news/uk-67946140?at_medium=RSS&at_campaign=KARANGA

US launches Boeing investigation after blowout

The Federal Aviation Administration will examine the jet-maker’s processes after last Friday’s emergency.

Read more at: https://www.bbc.co.uk/news/business-67943988?at_medium=RSS&at_campaign=KARANGA

Oil prices rise after Iran seizes oil tanker

The incident raises prospects of growing conflict in the Middle East, which could impact UK fuel prices.

Read more at: https://www.bbc.co.uk/news/business-67946344?at_medium=RSS&at_campaign=KARANGA

Tech View: Nifty support shifts near 21,600. What traders should do on Friday

The market is now placed at the hurdle of a down-sloping trendline that connected recent lower highs at 21,725 level. Having shown a false downside breakout at 21,500 level on Wednesday, Nifty is expected to reach up to the upper trajectory of 21,750-21,850 levels in the near term.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-support-shifts-near-21600-what-traders-should-do-on-friday/articleshow/106733242.cms

Technical Stock Pick: Breakout from Cup and Handle pattern on Naukri makes it an attractive buy

Short-term traders can look to buy the stock for a possible target of 5900 in the next 6-8 weeks, suggest experts.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/technical-stock-pick-breakout-from-cup-and-handle-pattern-on-naukri-makes-it-an-attractive-buy/articleshow/106715974.cms

Jyoti CNC GMP falls sharply on last day despite strong response for IPO

The Jyoti CNC Automation’s shares are trading with a premium of Rs 45, down from 75 the previous day. The IPO was priced in the range of Rs 315-331 apiece. In the public offer, the retail portion was booked nearly 21 times, followed by NIIs at 19.31 times.

Read more at: https://economictimes.indiatimes.com/markets/ipos/fpos/jyoti-cnc-automation-gmp-falls-sharply-on-last-day-despite-strong-response-for-ipo-check-subscription/articleshow/106725605.cms

Red Sea and Panama Canal disruptions may snarl supply chains, but these two toy makers appear well-positioned

The Houthi attacks on cargo ships in the Red Sea and the drought conditions impacting the Panama Canal have sparked concern about the impact on global supply chains.

Read more at: https://www.marketwatch.com/story/red-sea-and-panama-canal-disruptions-may-snarl-supply-chains-but-these-two-toy-makers-appear-well-positioned-19088291?mod=mw_rss_topstories

2-year Treasury yield falls to lowest level of month as traders look past December inflation data

Treasury yields finished at their lowest levels in weeks on Thursday.

Read more at: https://www.marketwatch.com/story/treasury-yields-dip-as-traders-await-december-inflation-report-23f312ff?mod=mw_rss_topstories

Government shutdown: Worries are growing as key spending deal may unravel, business group says

A top official at the U.S. Chamber of Commerce on Thursday expressed alarm over the potential for a partial government shutdown next week, citing news that a key deal on spending levels might come undone.

Read more at: https://www.marketwatch.com/story/government-shutdown-worries-are-growing-as-key-spending-deal-may-unravel-business-group-says-df36c8a5?mod=mw_rss_topstories