The Contested Island at the Heart of Russian-Chinese Relations

Not too long ago, tension over possession of islands in the rivers that form the Russian-Chinese frontier led to armed confrontation. These days the same islands are declared “a place of friendship.” But those feelings of amity may not run deep. Heixiazi, the Chinese half of a divided island at the confluence of the Ussuri and Amur rivers, looks “like Disneyland,” according to Akihiro Iwashita, a Japanese scholar who is an expert on Russia’s border issues with China and Japan. He first visited the island,…

Read more at: https://oilprice.com/Energy/Energy-General/The-Contested-Island-at-the-Heart-of-Russian-Chinese-Relations.html

French Senate Wants ‘Golden Share’ In TotalEnergies for National Interest

A French Senate report released on Wednesday is calling on the government to scoop up a “golden” share in giant TotalEnergies in an attempt to gain a strategic veto on issues related to climate change and any notion the company may have of relocating to American shores.  A “golden share” is a reference to the French’s government’s legal right to acquire one share in any domestic company for reasons of strategic national interest and then convert that share into a golden share that can veto company actions…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/French-Senate-Wants-Golden-Share-In-TotalEnergies-for-National-Interest.html

Global Clean Energy Spending Is Set to Exceed $3 Trillion in 2024

Recent reports, based on the global clean energy pipeline, suggest that investments in renewables, clean tech, and energy infrastructure are expected to soar this year. This is not surprising given the increase in commitment to a green transition from governments around the globe. Nonetheless, the rate at which investment is growing is perhaps unexpected, as green energy funding rapidly increases to overtake oil and gas.  As investment in fossil fuels has been slowly falling over the last decade, the financing of renewable energy projects,…

Read more at: https://oilprice.com/Energy/Energy-General/Global-Clean-Energy-Spending-Is-Set-to-Exceed-3-Trillion-in-2024.html

How Hungary Could Hinder Ukraine’s Path to EU Membership

Everything is set up for Ukraine and Moldova to officially open EU accession talks on June 25 in Luxembourg, with the bloc keen to hold what are known in EU parlance as Intergovernmental Conferences (IGC) to mark the occasion. The European Commission, the executive branch of the EU, presented an oral update on both countries to representatives from the 27 EU member states on June 7 in Brussels. According to the update, later distributed in written form to EU capitals and obtained by RFE/RL, the two countries had completed all the reforms that were…

Read more at: https://oilprice.com/Energy/Energy-General/How-Hungary-Could-Hinder-Ukraines-Path-to-EU-Membership.html

China Powers Petrochemicals with Nuclear Steam in Historical First

China has launched production on the country’s first nuclear-powered steam supply plant for the petrochemicals industry in the eastern Jiangsu Province, showcasing one of a series of Beijing’s advanced-tech, low- or zero-carbon projects now in the works.  The successful launch of the plant follows the December 2022 launch of China’s first industrial plant supplied by nuclear-generated thermal energy, Reuters reports.  The nuclear-powered steam plant, Heqi-1, went into operation on Wednesday, and will eventually transport…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/China-Powers-Petrochemicals-with-Nuclear-Steam-in-Historical-First.html

U.S. Steel Prices Pressured by Influx of Vietnamese Imports

Via Metal Miner The Raw Steels Monthly Metals Index (MMI) remained sideways, with a modest 1.33% decline from May to June. As a whole, U.S. flat rolled steel prices appeared bearish, accelerating declines throughout June. HRC prices fell nearly 9%, their most significant month-over-month drop since February. CRC and HDG prices saw respective 6% declines, while plate prices fell 4%.  Bearish Steel Prices Search for New Bottoms Steel prices remain in search of new bottoms as the market appears increasingly soft. As of June 13,…

Read more at: https://oilprice.com/Metals/Commodities/US-Steel-Prices-Pressured-by-Influx-of-Vietnamese-Imports.html

Nigerian Oilfield Shut Down after Oil Spill

Oil production at Nigeria’s OML 29 onshore field has been shut down as a precautionary measure after an oil spill was detected earlier this week, the field’s operator Aiteo Eastern Exploration and Production Company (AEEPCO) said on Wednesday.   “This is a precautionary measure while mobilising additional resources to contain the spill. The cause of the spill is currently undetermined,” the company said in a statement carried by Nigerian daily This Day. “We are proactively engaging with stakeholders…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Nigerian-Oilfield-Shut-Down-after-Oil-Spill.html

Senegal Is Betting on Both Fossil Fuels and Renewables for Its Energy Boom

This month, Senegal announced it had struck oil at its first offshore project. This is just the latest of several new energy projects that the West African country is developing, with an energy mix that includes both fossil fuels and renewables. Following the recent expansion of its energy industry, Senegal is now catching the eyes of several international energy investors, particularly in China.  In Senegal, around 65 percent of the population has access to electricity, showing there is a long way to go to establishing energy security. Over…

Read more at: https://oilprice.com/Energy/Energy-General/Senegal-Is-Betting-on-Both-Fossil-Fuels-and-Renewables-for-Its-Energy-Boom.html

U.S. Supports Angola to Process Critical Minerals

The United States will support Angola, one of the largest oil producers in Africa, in its efforts to establish a critical minerals processing industry as a way to diversify from oil. “We are fully aligned on these issues around decarbonization, energy transition, and climate, and we look forward to building on that partnership in the future,” US Assistant Secretary of State for Energy Resources Geoffrey Pyatt said during a press briefing about the U.S.-Angola Energy Security Dialogue.   Pyatt was on a visit to Angola…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Supports-Angola-to-Process-Critical-Minerals.html

Demand Pessimism on Oil Market Dissipates

The pessimism that has gripped the global oil market for weeks as traders suspect weakening demand growth this week began to dissipate, replaced by signs of emerging optimism. All because OPEC repeated what it had said at its June 2 meeting. At that meeting, the cartel’s leaders announced they may consider rolling back some of the production cuts they agreed upon last year, possibly later in 2024, if market conditions are favorable. What traders heard, however, was that they would for sure roll back those cuts. Prices slumped. OPEC had to…

Read more at: https://oilprice.com/Energy/Oil-Prices/Demand-Pessimism-on-Oil-Market-Dissipates.html

China Looks to Curb Overcapacity in Its Lithium Battery Industry

China issued on Wednesday new guidelines for its lithium-ion battery industry in a bid to put quality over quantity in battery manufacturing, whose boom led to overcapacity and eroded prices for companies in the sector. “China’s Ministry of Industry and Information Technology on Wednesday unveiled revised guidelines for the lithium-ion battery industry to further strengthen standardized management and promote high-quality development of the sector,” the government said. The new guidelines, effective from Thursday, lay…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/China-Looks-to-Curb-Overcapacity-in-Its-Lithium-Battery-Industry.html

Will the World See a “Staggering” Oil Supply Glut in 2030?

The International Energy Agency (IEA) recently released its Oil 2024 report, which examines the global dynamics for oil supply security, refining, trade, and investment. The report received considerable media attention because of the projection that by 2030 oil production will reach “a staggering 8 million barrels per day above projected global demand.” The report cites the proliferation of electric vehicles, the growing utilization of renewable energy, and China’s declining oil consumption growth are key contributors…

Read more at: https://oilprice.com/Energy/Energy-General/Will-the-World-See-a-Staggering-Oil-Supply-Glut-in-2030.html

New England Power Grid Issues ‘Abnormal Conditions’ Alert Amid Heatwave

ISO New England has issued an ‘abnormal conditions’ alert and declared a Power Caution for the region for several hours during peak demand on Tuesday evening as a heatwave is straining the power grid this week. Weather forecasts predict that dangerous heat is heading into Boston for several days this week. The Boston area is under a Heat Advisory, or an Excessive Heat Watch, for nearly all of this week. At least three consecutive days of excessive heat are expected in Massachusetts and parts of New Hampshire this week—not…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/New-England-Power-Grid-Issues-Abnormal-Conditions-Alert-Amid-Heatwave.html

Traders Boost Their Bullish Bets on European Natural Gas Prices

Portfolio managers raised their bullish bets on Europe’s natural gas prices for a second consecutive week, lifting the number of longs close to the highest in more than two years. The long positions in the Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, increased again in the past week, and are now near the level from January 2022, just before Russia invaded Ukraine, according to data from Intercontinental Exchange cited by Bloomberg on Wednesday. Hedge funds and other money managers continue to be concerned…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Traders-Boost-Their-Bullish-Bets-on-European-Natural-Gas-Prices.html

India’s New Coal Power Capacity Is Set to Soar in 2024

India expects to add as much as 15.4 gigawatts (GW) of new coal-fired power capacity this year, the most in nearly a decade, anonymous sources with knowledge of the matter told Bloomberg on Wednesday. India, the world’s second-largest coal consumer, looks to boost baseload capacity amid surging power demand and continues to bet big on coal to provide most of the increased electricity supply. Despite booming renewable capacity additions, India continues to rely on coal to meet most of its power demand as authorities also look to…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Indias-New-Coal-Power-Capacity-Is-Set-to-Soar-in-2024.html

Elon Musk softens ‘go f— yourself’ comment as he tries to woo advertisers back to X

Elon Musk said his remark telling advertisers to “go f— yourself” was meant as a general point on free speech rather than a comment to the wider industry.

Read more at: https://www.cnbc.com/2024/06/19/elon-musk-softens-go-f-yourself-comment-to-woo-advertisers.html

Family films led by ‘Inside Out 2’ could reignite the box office

“Inside Out 2” is giving movie theater operators hope that family films can reinvigorate the 2024 box office.

Read more at: https://www.cnbc.com/2024/06/19/inside-out-2-despicable-me-4-box-office.html

Nvidia and these other megacap stocks are extremely overbought and could be due for a near-term pullback

Some megacap stocks such as Nvidia look extremely overbought on price , according to Bespoke Investment Group.

Read more at: https://www.cnbc.com/2024/06/19/nvidia-and-other-megacaps-could-be-due-for-a-near-term-pullback-.html

First tropical storm of the season heads for Texas as extreme heat wave hits the Northeast

The weather system is expected to be upgraded and renamed Tropical Storm Alberto by the time it makes landfall in Mexico early Thursday.

Read more at: https://www.cnbc.com/2024/06/19/first-tropical-storm-of-the-season-heads-for-texas-as-extreme-heat-wave-hits-the-northeast.html

Russia and North Korea sign partnership deal that includes mutual defense pact, Putin says

Vladimir Putin was met with a grand reception in Pyongyang, North Korea, as Western officials warn of the warming relationship with Kim Jong Un.

Read more at: https://www.cnbc.com/2024/06/19/north-korea-rolls-out-the-red-carpet-for-putin.html

Solar is growing faster than any electricity source as Big Tech seeks clean energy for data centers

Solar power is already rapidly growing in the U.S. and is forecast to far outpace natural gas in terms of new power plant additions this year.

Read more at: https://www.cnbc.com/2024/06/19/solar-is-growing-faster-than-any-energy-source-as-clean-power-for-data-centers.html

These are Wall Street’s favorite S&P 500 picks for the second half

The second half of the year is around the corner, and some stocks are primed to outperform.

Read more at: https://www.cnbc.com/2024/06/19/these-are-wall-streets-favorite-sp-500-picks-for-the-second-half.html

Israel warns Lebanon of prospect of ‘all-out war’ as U.S. seeks to de-escalate hostilities

Israel’s foreign minister said the state is “very close to the moment of decision” over a potential escalation of hostilities with Hezbollah.

Read more at: https://www.cnbc.com/2024/06/19/israel-warns-lebanon-of-prospect-of-all-out-war-as-us-seeks-to-de-escalate-hostilities.html

Oil hits seven-week high on demand hopes, war jitters

Oil prices hit a seven-week high on Wednesday as the market weighed concerns over rising global conflicts.

Read more at: https://www.cnbc.com/2024/06/19/oil-steady-amid-us-stock-build-but-jitters-abound.html

These groups help people of color and the LGBTQ+ community find a ‘radically inclusive space’ in the outdoors

Nonprofits such as Hoods to Woods, Edge Outdoors and Unlikely Riders are dedicated to creating communities in the outdoors for marginalized people.

Read more at: https://www.cnbc.com/2024/06/19/a-radically-inclusive-outdoor-space-for-lgbtq-and-people-of-color-.html

Once you hit this credit score ‘you’re good,’ says credit expert—here’s how to get even better

The average American credit score is 716, according to FICO. You’ll need to get into the mid 750’s to score the most attractive offers, credit experts say.

Read more at: https://www.cnbc.com/2024/06/19/once-you-hit-this-credit-score-youre-good-how-to-get-even-better.html

Advertising is now a ‘meritocracy’ in the wake of social media, Resy co-founder Gary Vaynerchuk says

“For the first time in the history of marketing, you can post something, not have any money paid to amplify it, and have millions of people see it.”

Read more at: https://www.cnbc.com/2024/06/19/resy-co-founder-gary-vaynerchuk-on-the-profound-shift-in-advertising.html

Modi’s Nod To Closer Ties With Taiwan Suggests India’s Evolving ‘Act East Policy’

Authored by Venus Upadhayaya via The Epoch Times (emphasis ours),

After being sworn in as India’s prime minister for a third consecutive term, Narendra Modi received congratulatory messages from a diverse array of world leaders around the globe.

Indian Prime Minister Narendra Modi gives a victory symbol at the Bharatiya Janata Party (BJP) headquarters in New Delhi on June 4, 2024. (Adnan Abidi/Reuters)

However, one leader who stood out was Taiwan’s newly elected president, Lai Ching-te. In response to his message, Mr. Modi not only thanked Mr. Lai but reciprocated with a message highlighting the strengthening ties between China’s two frontline adversaries.< …

Read more at: https://www.zerohedge.com/geopolitical/modis-nod-closer-ties-taiwan-suggests-indias-evolving-act-east-policy

White House Fuming, Cancels Meeting With Israelis, After Netanyahu’s Public Scolding

On Monday Prime Minister Benjamin Netanyahu chastised the White House in a rare video message, calling President Biden’s withholding of some defense aid to Israel “inconceivable”.

However the White House has hit back, with press secretary Karine Jean-Pierre soon after the provocative statement issuing a rejection of the Israeli leader’s narrative. “We genuinely do not know what he’s talking about. We just don’t,” she told reporters.

She noted in a Monday afternoon briefing that “there was one particular shipment of munitions that was paused, and you’ve heard us talk about that many times.” Jean-Pierre then emphasized, “There are no other pauses — none — no other pauses or holds in place.”

Via ABC NewsBut here’s what the Israeli prime …

Read more at: https://www.zerohedge.com/geopolitical/white-house-fuming-cancels-meeting-israelis-after-netanyahus-public-scolding

MSNBC Contributor Posts Image Claiming Trump Needed To Be Helped Off Stage

Authored by Steve Watson via modernity.news,

A leftist MSNBC contributor has been raked over the coals for claiming Donald Trump is really the presidential candidate who needs to be helped off a stage, rather than than Joe Biden.

Brian Tyler Cohen, who ironically hosts a podcast called ‘No Lie’, posted the following image dating from last year on X: (‘No Lie’ Cohen has since deleted his lie)…

Read more at: https://www.zerohedge.com/political/msnbc-contributor-posts-image-claiming-trump-needed-be-helped-stage

Dell, SMC, Nvidia To Build Elon Musk’s Grok Supercomputer In Memphis

xAI’s multi-billion dollar “Gigafactory of Compute” is being constructed in Memphis, Tennessee, and is set to become the world’s largest supercomputer.

The artificial intelligence company founded by Elon Musk could be months away from powering chatbot Grok, which is already operational on the X platform.

A source recently told The Daily Memphian that the supercomputer could start running in 8 to 12 months.

The supercomputer is intended to power and do computations for Grok, the chatbot run by xAI’s artificial intelligence. The Information, a business publication, reported on May 26 that the supercomputer would be ready by August 2025.

But a source familiar with the matter told The Daily Memphian that the supercomputer could start running eight to 12 months earlier than expected, making an August 2024 start possible.

On Wednesday morning, Dell Founder & CEO Michael Dell posted a picture of Dell racks slated for the Grok.

“We’re building a Dell AI factory with @nvidia to power @grok for @xai @elonmusk,” Dell wrote in a post.

We’re building a Dell AI factory with @nvidia to power @grok for @xai @elonmusk

Read more at: https://www.zerohedge.com/technology/dell-smc-partner-nvidia-build-elon-musks-grok-supercomputer-memphis

Inflation falls to lowest level in almost three years

Inflation has hit the Bank of England’s target for the first time in almost three years.

Read more at: https://www.bbc.com/news/articles/cjrrk8j7pwxo

Secret files reveal fears over future of NHS IT giant

Talks have been held over the potential collapse of tech firm Atos, which runs vital UK public services.

Read more at: https://www.bbc.com/news/articles/cp33evkxz5go

Boeing crash victims’ families shout at CEO as he apologises in hearing

But the company’s CEO defended the company and pledged that it has learned from past mistakes.

Read more at: https://www.bbc.com/news/articles/ce77l2xl2r5o

Hyundai’s IPO Is Poised to Boost Indian Automakers’ Valuations

Hyundai Motor India Ltd. plans a significant share sale, potentially valuing its Indian unit at $25 billion. Analysts believe this could elevate the nation’s auto sector valuations further.

Read more at: https://economictimes.indiatimes.com/markets/ipos/fpos/hyundais-ipo-is-poised-to-boost-indian-automakers-valuations/articleshow/111112826.cms

Technical Breakout Stocks! How to trade RCF, FACT and Chambal Fertilisers on Thursday

We have collated a list of three stocks that either hit a fresh 52-week high, or an all-time high or saw a volume or a price breakout.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/technical-breakout-stocks-how-to-trade-rcf-fact-and-chambal-fertilisers-on-thursday/slideshow/111116315.cms

Tech View: Nifty forms bearish engulfing pattern. Here’s how to trade on Thursday

Nifty placed at the highs, but that’s not any confirmation of any significant reversal pattern building at the highs. Again, weakness below 23,300 levels could be considered as a short-term top reversal pattern.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-forms-bearish-engulfing-pattern-heres-how-to-trade-on-thursday/articleshow/111117226.cms

‘It’s the saddest thing’: I’m happily retired and my friends in their 60s want to know how I did it. Should I tell them my secret?

“I’m in a comfortable position now where I can live off of my interest, dividends, Social Security, and retirement account.”

Read more at: https://www.marketwatch.com/story/its-the-saddest-thing-im-happily-retired-and-my-friends-want-to-know-my-secret-should-i-give-them-financial-advice-369731e5?mod=mw_rss_topstories

My husband and I are retired and are invited to our niece’s destination wedding. Do we have to go — and buy a gift?

“We haven’t been to a wedding in decades.”

Read more at: https://www.marketwatch.com/story/my-husband-and-i-are-retired-and-are-invited-to-our-nieces-destination-wedding-do-we-have-to-go-and-buy-a-gift-c79033ce?mod=mw_rss_topstories

‘He married a manipulative, unlikeable woman’: My father-in-law, 85, named his wife as sole beneficiary to his $230,000 annuities. Can we undo this?

“This woman has isolated my father-in-law and we must go through her to communicate with him via speaker phone.”

Read more at: https://www.marketwatch.com/story/he-married-a-manipulative-unlikeable-woman-my-father-in-law-85-named-his-wife-as-sole-beneficiary-to-his-230-000-annuities-can-we-undo-this-537dcc22?mod=mw_rss_topstories