Thermal Batteries: A Clean and Sustainable Alternative to Lithium-Ion Batteries

The discussion about electric batteries has long been centred around lithium-ion batteries, which use lithium resources in their development. The large-scale rollout of these batteries relies on the development of vast mining projects to source the lithium and other metals and minerals required for their production. Due to the limitations of these types of batteries, scientists have been exploring the viability of alternative materials for battery construction to increase the number of energy storage options. While some companies are testing gravity…

Read more at: https://oilprice.com/Energy/Energy-General/Thermal-Batteries-A-Clean-and-Sustainable-Alternative-to-Lithium-Ion-Batteries.html

China’s Economic Grip Tightens on Kyrgyzstan

Politically, Kyrgyzstan may be mimicking Russia, but when it comes to trade and investment, Bishkek is tilting toward China. Kyrgyzstan’s split geostrategic personality reflects changing circumstances wrought by the stalemated Russia-Ukraine war.  Russia clearly views Kyrgyzstan as an important client state in Central Asia, evidenced by the fact that Kremlin leader Vladimir Putin’s first trip abroad last fall, after the International Criminal Court issued an arrest for him, was to Bishkek. Kyrgyz authorities at the same time have…

Read more at: https://oilprice.com/Geopolitics/International/Chinas-Economic-Grip-Tightens-on-Kyrgyzstan.html

U.S. Geothermal Capacity Set To Grow by 1,900% by 2050

Governments around the globe are exploring innovative ways to produce cleaner energy that will help decrease the overreliance on polluting fossil fuels. This ranges from more traditional green energy, such as solar and wind power, to less common options like tidal and geothermal power. As part of its aim to undergo a green transition, the U.S. government recently unlocked millions in funding to develop the country’s geothermal potential, after years of pressure from the industry.  Scientists worldwide have long hailed geothermal energy…

Read more at: https://oilprice.com/Energy/Energy-General/US-Geothermal-Capacity-Set-To-Grow-by-1900-by-2050.html

U.S. Drilling Activity Slips Further As Oil Prices Rise

The total number of active drilling rigs for oil and gas in the United States fell again this week, according to new data that Baker Hughes published on Friday, falling by 1. U.S. drillers saw a total loss of rigs this year of 2. The total rig count fell by 1 to 620 this week, compared to 751 rigs this same time last year. The number of oil rigs rose by 2 this week after falling by 3 in the week prior. Oil rigs now stand at 508–down by 82 compared to this time last year. The number of gas rigs fell by 2 this week to 110, a loss of 48 active gas…

Read more at: https://oilprice.com/Energy/Energy-General/US-Drilling-Activity-Slips-Further-As-Oil-Prices-Rise.html

Musk Lashes Out at Reuters for “Lies” Over Inexpensive EV

Reuters reported on Friday that Tesla has canceled its inexpensive car that would have catapulted Tesla’s sales growth, citing anonymous sources and a company message seen by the news outlet. “Reuters is lying (again),” Elon Musk said on Twitter in a response to Zerohedge, who cited the Reuters headline, shortly following the article’s publication. The anonymous sources said they become privy to Tesla’s plans to scrap the cheaper model in a meeting in late February. According to Reuters, these sources said that Tesla…

Read more at: https://oilprice.com/Energy/Energy-General/Musk-Lashes-Out-at-Reuters-for-Lies-Over-Inexpensive-EV.html

OPEC+ Is Still Struggling With Production Cut Compliance

1. OPEC+ Sticks to Course as Focus Shifts to Overproducers – The Joint Ministerial Monitoring Committee of OPEC+ has confirmed the oil group’s current production targets, pushing back against increasing calls for a reversal of output cuts on the back of Brent hitting $90 per barrel.   – Compliance with stipulated production targets is becoming a major sticking point for OPEC+ members, with the JMMC asking Iraq and Kazakhstan to present detailed compensation plans on how they would cut output in Q2. – In total, OPEC+ produced…

Read more at: https://oilprice.com/Energy/Energy-General/OPEC-Is-Still-Struggling-With-Production-Cut-Compliance.html

Tensions Between Israel and Iran Soar

Politics, Geopolitics & Conflict Israel has shored up its defenses in anticipation of a direct response from Iran following the Israel leveling of the Iranian consulate in Damascus, Syria. Two Iranian generals were killed in the attack. Israel’s war cabinet has convened, and tension is bursting over an expected Iranian response. In the meantime, needing full U.S. support against Iran, Israel moved to ease the route for humanitarian aid to Gaza via the waterways. In Turkey, the opposition dealt a severe blow to Erdogan, who has now effectively…

Read more at: https://oilprice.com/Energy/Energy-General/Tensions-Between-Israel-and-Iran-Soar.html

Argentina’s President Is Going to War With Its Oil Provinces

What happens when Argentina’s oil provinces cut off supplies amid a head-to-head battle with the country’s new libertarian president, Javier Milei, who has approached his mandate with a guns-blazing attitude and little political support to back it up? Milei is playing fast and loose with Argentine provinces that have grown accustomed to being treated with more deference and respect and now feel like they are being extorted, and the blowback could be phenomenal, with no sign that Milei is entertaining any notions of backing down. He…

Read more at: https://oilprice.com/Energy/Energy-General/Argentinas-President-Is-Going-to-War-With-Its-Oil-Provinces.html

Oil Prices Surge as Geopolitical Risk Rises

Oil Prices Surge WTI crude oil’s current bullish trend, closely following Brent crude’s movements, has placed it at a crucial point for traders. This trend, driven by a mix of geopolitical tensions and economic factors, is pivotal in determining the future direction of oil prices. Heightened Geopolitical Tensions Influencing Market The surge in WTI crude oil prices is primarily due to escalating geopolitical unrest in the Middle East, especially tensions involving Israel and Iran. Such conflicts often lead to uncertainties in oil supply, thereby…

Read more at: https://oilprice.com/Energy/Energy-General/Oil-Prices-Surge-as-Geopolitical-Risk-Rises.html

U.S. Drivers Feeling the Pinch at the Pump as Gas Prices Soar

Rising seasonal demand and higher crude oil prices have resulted in the highest average U.S. gasoline prices in nearly six months, with the national average gas price hitting $3.57 per gallon, up from $3.10 at the start of the year, and higher than a year ago. The national average hit a new multi-month high on Thursday morning, rising to $3.57 per gallon, the highest since October 14, Patrick De Haan, head of petroleum analysis at GasBuddy, noted. The current average price of a gallon of regular gasoline is some 20 cents higher than the $3.352…

Read more at: https://oilprice.com/Energy/Gas-Prices/US-Drivers-Feeling-the-Pinch-at-the-Pump-as-Gas-Prices-Soar.html

Is $100 Oil Within Reach?

A few weeks ago, when WTI crude was trading just below $80, I wrote here that I was about to break with my usual, contrarian trading style and establish a long-term long position in oil after a gain of around ten percent since the beginning of February. Normally, if something has climbed that far that fast, I start to look for a pivot point; a level at which a correction or consolidation will come. Last month, however, the more I looked at the fundamental factors influencing oil, the more convinced I became that it was heading higher still. I was…

Read more at: https://oilprice.com/Energy/Oil-Prices/Is-100-Oil-Within-Reach.html

UAE Sends Medium Sour Crude to Local Refinery Instead of Exporting It

Abu Dhabi National Oil Company (ADNOC) has been sending medium sour grade Upper Zakum for processing at a local refinery since the end of 2023, releasing more volumes of the sweeter, lighter, and more expensive, Murban crude for exports, a source familiar with the plan has told Argus. The Upper Zakum grade is now being used at the refurbished Ruwais refinery, which has a capacity to process 837,000 bpd of crude.   Back in 2018, ADNOC said it would invest $3.1 billion to introduce crude processing flexibility at its Ruwais oil refinery.…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/UAE-Sends-Medium-Sour-Crude-to-Local-Refinery-Instead-of-Exporting-It.html

Brent Breaks Above $91 as Bullish Sentiment Builds

Oil prices rallied this week as geopolitical risk and supply issues added to bullish sentiment, although concern that the Fed might not cut interest rates this year could counter that sentiment.Friday, April 5th 2024Aided by a whirlwind of bullish news, Brent prices surpassed the $90 per barrel threshold and surged past the $91 per barrel mark on Friday morning. The anticipation of Iran’s retaliatory strike on Israel, a developing Mexico export shortage, and the continuation of OPEC+ cuts have boosted sentiment in the oil market…

Read more at: https://oilprice.com/Energy/Energy-General/Brent-Breaks-Above-91-as-Bullish-Sentiment-Builds.html

Saudi Arabia Hikes Oil Prices in Increasingly Tight Market

Saudi oil giant Aramco, the world’s top crude oil exporter, hiked on Friday the prices of most of its crude grades for May, as Middle Eastern benchmarks are strengthening in a market that looks increasingly tight.   For a second consecutive month, Saudi Arabia raised the price of Arab Light, its flagship grade selling in Asia, by more than expected. Aramco set the official selling price (OSP) of Arab Light for Asia for May by $0.30 per barrel to a premium of $2.00 over the Oman/Dubai average, the benchmark off which Middle…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Saudi-Arabia-Hikes-Oil-Prices-in-Increasingly-Tight-Market.html

Fresh Regulator Request Delays Chesapeake-Southwestern Merger

The closing of the merger of Chesapeake Energy and Southwestern Energy, which would create the top U.S. natural gas producer, is being pushed back to the second half of 2024 as the U.S. regulator has asked for additional information in its review of the transaction, the companies said on Friday. Back in January, Chesapeake Energy and Southwestern Energy 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. At the time of the announcement,…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Fresh-Regulator-Request-Delays-Chesapeake-Southwestern-Merger.html

Dow closes 300 points higher in Friday rebound, but registers worst week in 2024: Live updates

Stocks rebounded Friday following the Dow Jones Industrial Average’s worst session in more than a year as traders assessed the March jobs report.

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

Here’s where the jobs are for March 2024 — in one chart

Health care and government led hiring last month, while leisure and hospitality finally regained its pre-pandemic employment level.

Read more at: https://www.cnbc.com/2024/04/05/heres-where-the-jobs-are-for-march-2024-in-one-chart-in-one-chart.html

Fed Governor Bowman says additional rate hike could be needed if inflation stays high

Bowman said that it’s possible more hikes could be needed, rather than the cuts the market is expecting.

Read more at: https://www.cnbc.com/2024/04/05/fed-governor-bowman-says-additional-rate-hike-could-be-needed-if-inflation-stays-high.html

Fed caution may be justified if the labor market starts to deteriorate. Here’s why that could happen

March’s robust job gains may push the Fed into a more cautious stance regarding potential rate cuts.

Read more at: https://www.cnbc.com/2024/04/05/fed-caution-may-be-justified-if-the-labor-market-starts-to-deteriorate.html

Move over, ‘Big Tech’ — this strategist says ‘old economy’ industrial and energy names will win in 2024

Strategist Larry Tentarelli sees undervalued sectors likely outperforming this year, naming some nondigital stocks among his top picks.

Read more at: https://www.cnbc.com/2024/04/05/this-strategist-says-old-economy-industrial-and-energy-names-will-win-in-2024.html

Magnitude 4.8 earthquake strikes northeastern U.S.

The earthquake was felt from Boston, down to New York, and to Baltimore, according to the U.S. Geological Survey.

Read more at: https://www.cnbc.com/2024/04/05/earthquake-strikes-new-york-new-jersey-region.html

Demand for french fries reflects resilient consumer as so-called fry attachment rate holds steady

The “fry attachment rate” remains above historical levels, a positive sign for the economy.

Read more at: https://www.cnbc.com/2024/04/05/demand-for-french-fries-reflects-resilient-consumer-as-so-called-fry-attachment-rate-holds-steady.html

Bitcoin slumps after U.S. job growth beat expectations in March: 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, Fred Thiel, CEO of Marathon Digital Holdings, discusses how the bitcoin miner is preparing for the halving.

Read more at: https://www.cnbc.com/video/2024/04/05/bitcoin-slumps-after-us-job-growth-beat-expectations-in-march-cnbc-crypto-world.html

Skydance’s unique offer for Paramount Global would give it a large stake while keeping the company public

The unusual transaction Skydance is offering Paramount Global isn’t ideal for shareholders, but it may be better than nothing.

Read more at: https://www.cnbc.com/2024/04/05/skydance-paramount-global-deal-details-of-david-ellison-bid.html

Terraform Labs and founder Do Kwon found liable in U.S. civil fraud trial

The SEC accused the company and Kwon of misleading investors in 2021 about the stability of TerraUSD, a stablecoin designed to maintain a value of $1.

Read more at: https://www.cnbc.com/2024/04/05/terraform-labs-and-founder-do-kwon-found-liable-in-us-civil-fraud-trial-.html

Biden administration will soon roll out a sweeping new student loan forgiveness plan

The Biden administration will soon roll a sweeping new student loan forgiveness proposal that could impact millions of Americans.

Read more at: https://www.cnbc.com/2024/04/05/biden-administration-will-roll-out-new-student-loan-forgiveness-plan-.html

‘Mandalorian & Grogu,’ ‘Toy Story 5’ and another ‘Tron’ coming to theaters from Disney

Disney has updated its theatrical slate, and alongside the Mandalorian and Grogu, moviegoers will see a fifth “Toy Story” film and another “Tron” flick.

Read more at: https://www.cnbc.com/2024/04/05/disney-slate-mandalorian-grogu-toy-story-5-and-another-tron.html

McDonald’s will buy all 225 restaurants from Israel franchise following pro-Palestinian boycott fallout

Consumers in Muslim-majority countries have boycotted the brand over what they perceive to be its support for Israel, something the U.S.-based company denies.

Read more at: https://www.cnbc.com/2024/04/05/israel-boycott-mcdonalds-will-buy-all-225-restaurants-from-franchise.html

Hundreds Of 99 Cents Only Stores Liquidated, Failed Bidenomics & Retail Theft Blamed

Hundreds Of 99 Cents Only Stores Liquidated, Failed Bidenomics & Retail Theft BlamedA combination of failed ‘Bidenomics,’ i.e., elevated inflation, disastrous progressive social justice reforms that ignited a tsunami of retail theft nationwide, and snarled supply chains left over from the Covid era have led to the demise of “99 Cents Only” stores nationwide, which began the liquidation process on Friday.

“This was an extremely difficult decision and is not the outcome we expected or hoped to achieve,” interim company CEO Mike Simoncic said in a statement.

Simoncic said, “Unfortunately, the last several years have presented significant and lasting challenges in the retail environment, including the unprecedented impact of the COVID-19 pandemic, shifting consumer demand, rising levels of shrink, persistent inflationary pressures and other macroeconomic headwinds, all of which have greatly hindered the company’s ability to operate. We deeply appreciate the dedicated employees, customers, partners, and communities who have collectively supported 99 Cents Only Stores for decades.”

Read more at: https://www.zerohedge.com/markets/hundreds-99-cents-only-stores-liquidated-failed-bidenomics-retail-theft-blamed

McDonald’s Buys Up All Israeli Franchise Restaurants After Boycott Hits Sales

Via Middle East Eye

McDonald’s has bought out all the franchise restaurants in Israel after seeing a sales hit due to boycotts. The locations have become a flashpoint in the Israel-Hamas war, receiving global media attention.

Bloomberg reported that McDonald’s Corp has decided on the buyout from Alonyal Ltd, taking direct control of the operations several months after its Israel franchise became a focal issue during the early stages of the war on Gaza.

Pro-Palestine activists walk past a McDonald’s during a protest in central London in …

Read more at: https://www.zerohedge.com/markets/mcdonalds-buys-all-israeli-franchise-restaurants-after-boycott-hits-sales

It’s Official: No Labels 2024 White House Quest Has Imploded

There’s one fewer wild card in the 2024 presidential election deck, as the centrist group No Labels has bailed on its long-running ambition to field a unity ticket to challenge the two-party duopoly.

“No Labels has always said we would only offer our ballot line to a ticket if we could identify candidates with a credible path to winning the White House,” said No Labels CEO Nancy Jacobsen in a Thursday email to the group’s backers. “No such candidates emerged, so the responsible course of action is for us to stand down.”

No Labels had made unfruitful overtures to a long list of prospects, including former ambassador to the UN Nikki Haley, West Virginia Sen. Joe Manchin, former Georgia Lt. Gov. Geoff Duncan, former CIA Director David Petraeus, former Special Operations Command commander William McRaven, former Secretary of State Condoleezza Rice and Arizona Sen. Kyrsten Sinema.

During the final desperate weeks of trying …

Read more at: https://www.zerohedge.com/political/its-official-no-labels-2024-white-house-quest-has-imploded

Trump Says Truth Social Has Zero Debt, $200 Million Cash Despite Media Fixation On 2023 Loss

Authored by Tom Ozimek via The Epoch Times (emphasis ours),

Former President Donald Trump said Thursday that media fixation on the $58 million loss of the company behind Truth Social is misguided, touting its fundamentals—which he said include over $200 million cash and no debt—as “very solid.”

President Trump took to Truth Social on April 4 to say that the platform’s performance is “amazing” and its fundamentals are “very solid,” with over $200 million in cash and “zero debt.”

Official first-quarter financial information for Trump Media & Technology Group, th …

Read more at: https://www.zerohedge.com/political/trump-says-truth-social-has-zero-debt-200-million-cash-despite-media-fixation-2023-loss

Thames Water troubles swell as parent firm defaults

Holding company Kemble has told lenders that it has failed to meet a deadline for interest payments.

Read more at: https://www.bbc.co.uk/news/business-68742551

US jobs boom raises doubts about rate cuts

Employers added more than 300,000 jobs in March – the biggest gain in almost a year.

Read more at: https://www.bbc.co.uk/news/business-68742839

UK house prices fall for first time in six months

Prices fell in March with higher mortgage rates affecting affordability, the Halifax says

Read more at: https://www.bbc.com/news/articles/cz9zle1973xo

The laggards: These 10 equity MFs lost more than 4% last month

There were around 621 equity and equity-oriented schemes in March. Out of this around 295 equity schemes offered negative returns. Here are the 10 equity schemes that lost more than 4% in March, according to ACE MF.

Read more at: https://economictimes.indiatimes.com/mf/analysis/these-10-equity-mutual-funds-lost-more-than-4-in-march/the-laggards/slideshow/109067559.cms

Tech View: Nifty 50 in consolidation mode; what’s the trade set-up for next week?

The index remained sideways throughout the session, reflecting a pause in the market trend, following the formation of a hanging man pattern. The sentiment may continue to remain sideways due to the lack of a directional breakout or pattern formation.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-50-in-consolidation-mode-whats-the-trade-set-up-for-next-week/articleshow/109065456.cms

Technical Stock Pick: This FY24 multibagger stock breaks out from inverse head & shoulder pattern

Varroc Engineering stock’s breakout from inverse Head & Shoulder pattern led to a significant wealth increase for investors. Short-term traders eye Rs 600 target as experts anticipate a bullish trend towards Rs 595-613 in the coming weeks.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/technical-stock-pick-this-fy24-multibagger-stock-breaks-out-from-inverse-head-shoulder-pattern/articleshow/109055776.cms

Gold hits another all-time high as investors take cues from near-record buying by central banks

With gold prices settling at a record high for a 13th time this year on Friday, the metal’s strength as a safe-haven investment isn’t just being fueled by expectations for Federal Reserve interest-rate cuts or geopolitical tensions — purchases by central banks have been a significant factor, too.

Read more at: https://www.marketwatch.com/story/gold-hits-another-all-time-high-as-investors-take-cues-from-near-record-buying-by-central-banks-2b3791a6?mod=mw_rss_topstories

10-, 30-year Treasury yields end at highest levels since late November after blowout jobs report

Rates on U.S. government debt jumped on Friday, pushing 10- and 30-year Treasury yields back to their highest levels since November, after data showed the U.S. created far more jobs than expected last month.

Read more at: https://www.marketwatch.com/story/treasury-yields-edge-higher-ahead-of-jobs-report-a84984fc?mod=mw_rss_topstories

Solar Eclipse: Airbnb, United Airlines and other brands sharing $1.5 billion in ‘path of totality’ profits

An eclipse like the one on April 8 won’t happen again until 2044, so millions of Americans are paying to get a glimpse of Monday’s total solar eclipse.

Read more at: https://www.marketwatch.com/story/solar-eclipse-airbnb-united-airlines-and-other-brands-sharing-1-5-billion-in-path-of-totality-profits-5b2840cb?mod=mw_rss_topstories