The Battle Over Energy-Efficient Housing is Heating Up Across the U.S.

Energy efficiency is essential for meeting climate goals and studies show that they will save consumers money on heating and electric bills in the long run – so why do standards for energy-efficient housing get so much pushback? One big reason is a nationwide coordinated defensive effort by the National Association of Home Builders, the United States housing industry’s largest lobbying group. There’s no denying that government mandates that require more stringent energy efficiency standards in newly built homes increase up-front…

Read more at: https://oilprice.com/Energy/Energy-General/The-Battle-Over-Energy-Efficient-Housing-is-Heating-Up-Across-the-US.html

U.S. Driving Activity to Reach All-Time Highs But Gasoline Consumption Seen Flat

Driving activity in the United States will reach all-time highs this year and next, the Energy Administration said on Tuesday in its latest editing of the Short Term Energy Outlook. Vehicle Miles Traveled (VMT) will increase in 2024 and 2025 to new highs in the United States, the EIA said, with trends in population, economic growth, and especially employment all increasing. The EIA changed is employment growth forecast for this year by 1% compared to the previous month’s STEO forecast—an increase of .8 million jobs from the prior estimate.…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Driving-Activity-to-Reach-All-Time-Highs-But-Gasoline-Consumption-Seen-Flat.html

Iron Ore Futures Take a Hit as Chinese Demand Wavers

To start the week, Ehsan Khoman, the Head of Commodities at MUFG Bank, points out that iron ore ended the session in Asia as one of the weakest major commodities. This downturn was primarily due to the lack of enthusiasm from China’s National People’s Congress event on Monday amid mounting concerns about worsening macroeconomic headwinds.  Futures in the critical steelmaking ingredient are down 25% year-to-date in Singapore, and they fell nearly 7% on Monday to around the $107 a ton level.  The 7% drop in Singapore was the largest daily…

Read more at: https://oilprice.com/Metals/Commodities/Iron-Ore-Futures-Take-a-Hit-as-Chinese-Demand-Wavers.html

EIA Raises Crude Oil Price Outlook

The Energy Information Administration lifted its outlook for Brent crude oil prices for this year and next, the agency said in a Tuesday report. The EIA now sees the spot price for Brent crude oil averaging $87 per barrel, according to the latest edition of the Short-Term Energy Outlook published on Tuesday. That’s up 5.6% from the previous month’s forecast of $82, and up from the current price of just over $82 per barrel. For next year, the EIA sees the crude oil benchmark averaging $85 per barrel—a 6.7% increase over the $79…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/EIA-Raises-Crude-Oil-Price-Outlook.html

Indian Steelmaker Plans to Build Europe’s Most Advanced Rail Mill

Via Metal Miner   One of India’s fastest-growing steel companies JSW Steel, recently announced the next step in its growth plan. In a major steel news event, JSW Steel Italy SRL inked a memorandum of understanding (MoU) with the Italian government to re-start production operations at the Piombino plant via a €140 million investment. According to JSW Steel, the initiative entails a doubling of the Piombino facility’s current rail-making capacity to 6 lakh tons per annum. Analysts anticipate that this strategic move will reduce…

Read more at: https://oilprice.com/Metals/Commodities/Indian-Steelmaker-Plans-to-Build-Europes-Most-Advanced-Rail-Mill.html

Starling Bank Poaches Ovo Energy Boss Ahead of London Stock Market Debut

Starling Bank has appointed Ovo boss Raman Bhatia to be its permanent chief executive, taking over from interim CEO John Mountain ahead of a planned public listing. Bhatia is set to join the digital challenger bank in the early summer, subject to regulatory approval. Mountain was named interim CEO after the bank’s founder Anne Boden stepped down as chief executive last June. She cited a desire to split up her role as a major shareholder and the chief executive. The firm has rebuffed reports of a row between Boden and investors over Starling’s…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Starling-Bank-Poaches-Ovo-Energy-Boss-Ahead-of-London-Stock-Market-Debut.html

EU Expansion Talks with Ukraine and Moldova on Hold Ahead of Elections

In December 2023, European Union leaders made the historic decision to open EU accession talks with Ukraine and Moldova. But two months into 2024, the negotiations have not yet started as fears still exist of going too fast too soon — notably with Kyiv — especially ahead of June’s European Parliament elections. And as Ukraine’s and Moldova’s enlargement journeys are connected, this of course applies to Chisinau as well. Most pressing are the negotiation frameworks that the European Commission, the executive branch of the EU, needs to adopt for…

Read more at: https://oilprice.com/Geopolitics/International/EU-Expansion-Talks-with-Ukraine-and-Moldova-on-Hold-Ahead-of-Elections.html

Shell Could Slow the Rate of its Emissions Cuts

UK-based supermajor Shell has been updating its strategy on climate targets and could announce a slower pace of its emissions reductions later this week, anonymous sources with knowledge of the discussions have told Bloomberg. Shell is set to announce an update to its energy transition strategy on Thursday, March 14. The oil and gas major has been considering slowing the pace of carbon emission reductions for some time, as part of an update to its strategy in which a team has been tasked to analyze options and present them to the top management,…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Shell-Could-Slow-the-Rate-of-its-Emissions-Cuts.html

AI, Bitcoin And Clean Energy Boom Are Straining U.S. Power Supply

The tech world is currently living through the Fourth Industrial Revolution as Artificial Intelligence (AI), cryptocurrencies and clean energy have emerged as some of the biggest secular megatrends of our time. AI and Machine Learning (“ML”) have become the biggest consumer tech buzzwords thanks in large part thanks to ChatGPT, OpenAI’s generative AI chatbot. ChatGPT has become AI’s poster child, managing to garner 100 million users 60 days after its November 2022 launch.  Energy companies are increasingly deploying AI tools to…

Read more at: https://oilprice.com/Energy/Energy-General/AI-Bitcoin-And-Clean-Energy-Boom-Are-Straining-US-Power-Supply.html

Exploring the World’s Most Volatile Commodities

In the intricate world of commodities, volatility is a double-edged sword: it presents both significant risk and potential reward. Commodities, by their very nature, are susceptible to wide price fluctuations due to a variety of factors including supply and demand dynamics, geopolitical tensions, environmental conditions, and economic indicators. This article delves into the most volatile commodities in the market, providing examples and insights into the factors that contribute to their unpredictability. Energy Commodities: Crude Oil and Natural…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Exploring-the-Worlds-Most-Volatile-Commodities.html

OPEC Remains Upbeat About Oil Demand

OPEC remains optimistic that the world will see robust oil demand growth this year and next amid improving economies and further upside potential in global economic growth. In its closely-watched Monthly Oil Market Report (MOMR) published on Tuesday, OPEC revised up slightly its global economic growth forecast for this year to 2.8%, up by 0.1 percentage point compared to its report from last month. The cartel left its 2025 economic growth projection unchanged at 2.9%.    “While some downside risks persist, a continuation…

Read more at: https://oilprice.com/Energy/Crude-Oil/OPEC-Remains-Upbeat-on-Oil-Demand-as-Its-Sees-Brighter-Economic-Prospects.html

Oil Markets Await a Shift in Sentiment

Despite multiple bullish catalysts, oil prices remained stubbornly rangebound at the start of this week, with markets awaiting a notable shift in sentiment. – US gasoline futures have jumped sharply in the past two weeks, up more than 20% since the beginning of the year, as Red Sea disruptions, refinery force majeure events, and resurgent demand put the heat on fuel prices.- With US gasoline prices now 60% higher than at the time of the 2020 presidential election, the Biden administration will be looking warily at RBOB front-month futures…

Read more at: https://oilprice.com/Energy/Energy-General/Oil-Markets-Await-a-Shift-in-Sentiment.html

OPEC’s Oil Production Rose in February Despite Cut Extension

Despite the voluntary production cuts of several major producers of the OPEC+ alliance, OPEC’s oil production rose in February by more than 200,000 barrels per day (bpd) compared to January, driven by higher production in Libya, which is exempted from the OPEC+ supply cuts. Crude oil production from all OPEC members jumped by 203,000 bpd from January to 26.57 million bpd in February, OPEC’s Monthly Oil Market Report (MOMR) showed on Tuesday.   The biggest increase in output came from Libya, which has been exempt from…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/OPECs-Oil-Production-Rose-in-February-Despite-Cut-Extension.html

Russia’s Coal Exports to Asia Slump Amid Intense Competition

The lower prices of coal from major exporters Indonesia, South Africa, and Australia are weighing on Russia’s capacity to sell more of its coal to Asia, which has become Moscow’s primary export market after the West slapped embargoes on its coal in 2022.   Russian exports of both thermal and metallurgical coal to Asia slumped in February by 21.6% year-over-year, to around 8.48 million metric tons, according to data from Kpler reported by Reuters’ columnist Clyde Russell. Despite the fact that Kpler estimated Russia’s…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russias-Coal-Exports-to-Asia-Slump-Amid-Intense-Competition.html

Russian Seaborne Crude Oil Exports Hit 2024 High

Russia exported last week the highest weekly crude oil volumes so far this year, at 3.7 million barrels per day (bpd), up by nearly 600,000 bpd from the previous week and 420,000 bpd more than its pledged export cut this quarter, tanker-tracking data monitored by Bloomberg showed on Tuesday.   The jump in the weekly exports in the week to March 10 was likely the result of the return of normal operations at the Far East port of Kozmino, where exports were hampered by a storm in the week to March 3.     Still, even the…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russian-Seaborne-Crude-Oil-Exports-Hit-2024-High.html

Inside the organized crime rings plaguing retailers including Ulta, T.J. Maxx and Walgreens

Organized retail crime rings can involve groups that sell stolen goods at flea markets and more sophisticated networks that resell stolen goods on Amazon.

Read more at: https://www.cnbc.com/2024/03/12/inside-organized-crime-rings-targeting-retailers-ulta-tjx-walgreens.html

Dow jumps more than 200 points, S&P 500 pops 1% for new closing high as Nvidia resurges: Live updates

Core inflation increased more-than-expected last month, while the headline reading met consensus estimates.

Read more at: https://www.cnbc.com/2024/03/11/stock-market-today-live-updates.html

Boeing’s Max problems shift growth plans at major airline customers

United is pausing pilot hiring, Southwest is trimming its schedule and Alaska said its growth plans are in flux because of Boeing’s delivery delays.

Read more at: https://www.cnbc.com/2024/03/12/boeing-max-problems-shift-growth-plans-at-southwest-united.html

Watch Citadel’s Ken Griffin talk about the markets, economy and the Fed’s rate-cutting path

Ken Griffin, Citadel founder and CEO, is set to speak at the International Futures Industry conference in Boca Raton, Florida.

Read more at: https://www.cnbc.com/2024/03/12/watch-citadels-ken-griffin-talk-about-the-markets-economy-and-the-feds-rate-cutting-path.html

These are the stocks most correlated to moves in bitcoin

Several names have moved similarly to the turbulent digital currency.

Read more at: https://www.cnbc.com/2024/03/12/these-are-the-stocks-most-correlated-to-moves-in-bitcoin.html

IBM is slashing jobs in marketing and communications

IBM on Tuesday told employees in a roughly seven-minute meeting that it’s cutting jobs in its marketing and communications division.

Read more at: https://www.cnbc.com/2024/03/12/ibm-tells-employees-of-job-cuts-in-marketing-and-communications.html

Here’s the inflation breakdown for February 2024 — in one chart

Consumers still contended with price growth in February, new government data shows. Here’s which goods and services went up the most.

Read more at: https://www.cnbc.com/2024/03/12/heres-the-inflation-breakdown-for-february-2024-in-one-chart.html

Now comes the hard part for the Fed to achieve its goal of getting inflation to 2%

The Federal Reserve has a few more bridges to cross before it can finish the so-called last mile of its effort to bring down inflation.

Read more at: https://www.cnbc.com/2024/03/12/now-comes-the-hard-part-for-the-fed-to-achieve-its-goal-of-getting-inflation-to-2percent.html

Bitcoin hits another record as volatility hovers at 2024 high: 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, CoinShares CEO Jean-Marie Mognetti discusses the completion of its acquisition of Valkyrie’s ETF business.

Read more at: https://www.cnbc.com/video/2024/03/12/bitcoin-briefly-touches-new-all-time-high-volatile-trading-day-cnbc-crypto-world.html

Live updates: Democrats rip special counsel over Biden documents probe

Special Counsel Robert Hur in his report on Joe Biden concluded the president willfully retained classified records after he was vice president.

Read more at: https://www.cnbc.com/2024/03/12/live-updates-special-counsel-robert-hur-testifies-about-biden-classified-documents.html

Coastal land is sinking, doubling the potential damage from rising seas — here’s why

A new study shows that coastal communities may be more at risk from sea-level rise than previously thought.

Read more at: https://www.cnbc.com/2024/03/12/coastal-land-is-sinking-doubling-the-potential-damage-of-rising-seas.html

Homebuyers need to earn 80% more than in 2020 to afford a house in this market. It’s not just due to high mortgage rates

While mortgage rates remain elevated for potential homebuyers, factors outside borrowing costs are keeping housing unaffordable for many, experts say.

Read more at: https://www.cnbc.com/2024/03/12/why-homebuyers-need-to-earn-more-to-afford-a-home-in-2024.html

These niche funds provide investors with steady monthly payments in retirement

Some investors looking for steady income in retirement are turning to managed payout funds.

Read more at: https://www.cnbc.com/2024/03/12/niche-funds-give-investors-steady-monthly-payments-in-retirement.html

Trump Did Propose 10,000 National Guard Troops On January 6th; Report

Authored by Jonathan Turley,

One of the long-standing unanswered questions from the January 6th riot has been why the Capitol was so poorly prepared and defended on that day. A newly released transcript has caused a firestorm in Washington over allegations that the J6 Committee downplayed or even suppressed evidence that former President Donald Trump personally suggested the deployment of 10,000 national guard troops to prevent violence.

The transcript also includes contradictions of major allegations that ran wild in the media.

That includes the claim that Trump tried to physically grab the steering wheel of the presidential limo, “The Beast,” when Secret Service refused to take h …

Read more at: https://www.zerohedge.com/political/trump-did-propose-10000-national-guard-troops-january-6th-report

FBI Chief Tells Lawmakers ‘Don’t Panic’ As Terror Threat Soars Due To Border Invasion

Before the Muslim holy month of Ramadan, the Federal Bureau of Investigation issued warnings about an Iranian assassin preparing to kill former and current US government officials. At the same time, New York City deployed National Guard soldiers armed with machine guns across subway stations.

On Tuesday morning, the head of the FBI, Christopher Wray, told the Senate Intelligence Committee that terrorist threats against the US had reached a “whole other level,” according to Bloomberg. This comes as the migrant invasion, facilitated by the Biden administration, has flooded the nation with millions of unvetted folks from third-world countries, some of whom deeply hate America.

Read more at: https://www.zerohedge.com/political/fbi-chief-tells-lawmakers-dont-panic-terror-threat-soars-due-border-invasion

OPEC’s Oil Production Rose In February Despite Cut Extension

By Charles Kennedy of OilPrice.com

Despite the voluntary production cuts of several major producers of the OPEC+ alliance, OPEC’s oil production rose in February by more than 200,000 barrels per day (bpd) compared to January, driven by higher production in Libya, which is exempted from the OPEC+ supply cuts.

Crude oil production from all OPEC members jumped by 203,000 bpd from January to 26.57 million bpd in February, OPEC’s Monthly Oil Market Report (MOMR) showed on Tuesday.

The biggest increase in output came from Libya, which has been exempt from the OPEC+ cuts due to its unstable security situation, as well as from Nigeria, which has underperformed compared to its quotas in recent years, due to a lack of investments and f …

Read more at: https://www.zerohedge.com/markets/opecs-oil-production-rose-february-despite-cut-extension

Biden Says He’s “Counting On The Border Action Happening By Itself”

Authored by Steve Watson via Modernity.news,

Joe Biden gave perhaps his most baffling comments on the border to date Monday when he told a reporter that he is “counting on” some action to fix the crisis at the border to “happen by itself.”

Following another disastrous appearance in New Hampshire, more to follow, Biden stopped on the tarmac before shuffling up the small steps into Air Force One.

“When is a border executive action coming?” a reporter asked Biden.

“I’m counting on the border action happening by itself,” Biden responded.

Biden tells a reporter he hopes the open border will fix itself. Complete madness. Report here https://t.co/2asqtfoHIF

Read more at: https://www.zerohedge.com/political/biden-says-hes-counting-border-action-happening-itself

More than a fifth of adults not looking for work

The UK’s economic inactivity rate was 21.8% from November to January, official figures show.

Read more at: https://www.bbc.co.uk/news/business-68534537

Warning pet owners overpaying for medicine

The competition watchdog said that customers struggle to access information such as price lists.

Read more at: https://www.bbc.co.uk/news/business-68534697

Boeing whistleblower found dead in US

Prior to his death, John Barnett was testifying against Boeing over concerns about standards.

Read more at: https://www.bbc.co.uk/news/business-68534703

Tech View: Nifty forms a Doji candle. What should traders do on Wednesday

​The immediate resistance for Nifty is at 22,500, and a break above this on a closing basis would signal a resumption of the upward movement. Conversely, the immediate support is positioned at 22,200-22,150, and sustaining above this level could witness some recovery in the index, said Kunal Shah of LKP Securities.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-forms-a-doji-candle-what-should-traders-do-on-wednesday/articleshow/108436525.cms

These 7 smallcap superstars turn Dolly Khanna Rs 300 crore wealthier in just over 2 months

Dolly Khanna’s portfolio of smallcap stocks, including Salzer Electronics, Zuari Industries, Pondy Oxides & Chemicals, Chennai Petroleum Corp, Rajshree Sugars & Chemicals, KCP Ltd, and J Kumar Infraprojects, rallied 11-76% in 2024, making her nearly Rs 300 crore wealthier.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/these-7-smallcap-superstars-turn-dolly-khanna-rs-300-crore-wealthier-in-just-over-2-months/articleshow/108422430.cms

Top 20 equity mutual funds which offered over 10% in 2024 so far

We considered all equity mutual fund categories such as large cap, mid cap, small cap, large & mid cap, ELSS, multi cap, flexi cap, focused fund, value, contra, sectoral and thematic categories. We considered regular and growth options.

Read more at: https://economictimes.indiatimes.com/mf/analysis/top-20-equity-mutual-funds-which-offered-over-10-in-2024-so-far/articleshow/108422764.cms

Treasury yields end at one-week highs after February’s CPI inflation report

U.S. government debt sold off on Tuesday, pushing yields to one-week highs, after data showed inflation accelerated in February.

Read more at: https://www.marketwatch.com/story/treasurys-little-changed-as-cpi-inflation-report-looms-d5767db0?mod=mw_rss_topstories

Global stocks are headed for a correction, but the pullback likely won’t snowball into a bear market, Ned Davis Research says

Stocks trading around the world have trudged to record or near-record highs this year, leaving them vulnerable to a correction once the “sugar high” of excessive investor enthusiasm wears off.

Read more at: https://www.marketwatch.com/story/global-stocks-are-headed-for-a-correction-but-the-pullback-likely-wont-snowball-into-a-bear-market-ned-davis-research-says-5cd8cf4d?mod=mw_rss_topstories

Boeing’s February deliveries slow down amid Max uncertainty

Boeing Co.’s February deliveries does little to ease worries about the jet maker.

Read more at: https://www.marketwatch.com/story/boeings-february-deliveries-slow-down-amid-max-uncertainty-938b3971?mod=mw_rss_topstories