Powerful Explosion Rocks Natural Gas Pipeline Connecting Lithuania And Latvia

Lithuania natural gas transmission operator Amber Grid told Reuters its pipeline that connects Lithuania to Latvia was rocked by an explosion on Friday. Footage of the explosion emerged on Twitter in the last 30 minutes. A powerful explosion rocked the gas pipeline that connects Latvia and Lithuania. What’s going on?? #war #BREAKING #RussiaUkraineWar #NATO pic.twitter.com/V9Mivq093K CassiusClan (@ClanCassius) January 13, 2023 ????ALERT???????????????? Massive Fire caught on video from the blast from the gas pipeline

Read more at: https://oilprice.com/Energy/Natural-Gas/Powerful-Explosion-Rocks-Natural-Gas-Pipeline-Connecting-Lithuania-And-Latvia.html

Big Oil Is Eyeing India For Big Investments

U.S. oil majors Exxon Mobil Corp and Chevron Corp along with France’s TotalEnergies are taking a long, hard look at upping their investments in India’s oil and gas exploration and production sector, India’s oil minister said in a Friday speech, carried by Reuters. ExxonMobil said back in December that its 2023 spending plans include $23 billion – $27 billion in capital investments to maintain its current production level of 3.7 million BPD. Longer-term, ExxonMobil said it would spend between $20 billion and $25 billion on growing the U.S.

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Big-Oil-Is-Eyeing-India-For-Big-Investments.html

U.S. Oil, Gas Rig Count Sees Small Gains As Crude Inches Higher

The total number of total active drilling rigs in the United States rose by 3 this week, according to new data from Baker Hughes published on Friday. The total rig count rose to 775 this week174 rigs higher than the rig count this time in 2022, and 300 rigs lower than the rig count at the beginning of 2019, prior to the pandemic. Oil rigs in the United States rose by 5 this week, to 623. Gas rigs fell by 2, to 150. Miscellaneous rigs stayed the same at 2. The rig count in the Permian Basin rose by 3, while rigs in the Eagle Ford rose by

Read more at: https://oilprice.com/Energy/Crude-Oil/US-Oil-Gas-Rig-Count-Sees-Small-Gains-As-Crude-Inches-Higher.html

Nigeria Cancels LNG Shipments After Pipeline Vandalism

Nigeria LNG, the company exporting liquefied natural gas from the African country, has canceled several shipments due to vandalism on gas pipelines that disrupted operations, sources familiar with the matter told Bloomberg on Friday. There could have been as many as 10 cargoes canceled, one of Bloomberg’s sources said. Nigeria LNG has also declared a force majeure on export cargoes and scrapped at least 2 loadings scheduled for January. More LNG cargoes planned to load in February could also be canceled, according to Bloomberg’s sources.

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Nigeria-Cancels-LNG-Shipments-After-Pipeline-Vandalism.html

Russia Forced To Use More Of Its Own Oil Tankers To Dodge Sanctions

Russia is increasing the number of its own oil tankers that it is using to deliver its crude oil to buyers, Bloomberg said on Friday. The EU levied strict sanctions banning all Russian crude oil imports to EU nations transported by sea on December 5. On top of that, G7 buyers of Russian seaborne crude oil can only do so at a price below $60 per barrel if they want to use European ships or insurers. These sanctions have resulted in a drop in European tanker cargoes from key western oil ports in Russia, Bloomberg said. Since December 5, European

Read more at: https://oilprice.com/Energy/Crude-Oil/Russia-Forced-To-Use-More-Of-Its-Own-Oil-Tankers-To-Dodge-Sanctions.html

Tesla Drops After Cutting Model Y Prices In the U.S. By 20%

Tesla Inc. shares slid in premarket trading after slashing prices of its vehicles sold in the US. The goal is to attract new buyers as the electric vehicle maker struggles with a significant demand problem. Price cuts span across much of Tesla’s lineup and now allow buyers to take advantage of the $7,500 US government tax credit. It lowered the cost of the cheapest Model Y by 20%, reducing the price by as much as $21,000 to $52,990, not including fees and taxes. That enables buyers to qualify for the tax incentive by putting the vehicle under a

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Tesla-Drops-After-Cutting-Model-Y-Prices-In-US-By-20.html

Higher labor costs dent Delta’s profit forecast but travel demand is still strong

Delta and other airlines had said demand remained strong throughout the quarter.

Read more at: https://www.cnbc.com/2023/01/13/delta-air-lines-dal-earnings-q4-2022.html

Hasbro delays new Dungeons & Dragons licensing rules following fan backlash

The attempt to create a new license comes as Hasbro’s Wizards of the Coast unit looks to capitalize on a surge in Dungeons & Dragons’ popularity.

Read more at: https://www.cnbc.com/2023/01/13/hasbro-delays-new-dungeons-dragons-licensing-rules.html

Activist investor Nelson Peltz’s Trian won’t pursue Wendy’s takeover

Nelson Peltz isn’t interested in acquiring Wendy’s but said in a statement he is confident in the company’s ability to drive shareholder value.

Read more at: https://www.cnbc.com/2023/01/13/peltz-trian-no-wendys-takeover.html

Rupert Murdoch’s deposition in the Dominion-Fox lawsuit delayed until next week

Fox Chairman Rupert Murdoch’s deposition in the Dominion-Fox lawsuit is now scheduled to take place next week.

Read more at: https://www.cnbc.com/2023/01/13/rupert-murdoch-deposition-dominion-fox-lawsuit-delayed.html

‘Flash’ star Ezra Miller avoids jail with plea deal for unlawful trespass in Vermont

Ezra Miller, star of “The Flash,” agreed to a plea deal to avoid jail related to an incident in which they allegedly stole alcohol from a neighbor’s home.

Read more at: https://www.cnbc.com/2023/01/13/flash-star-ezra-miller-avoids-jail-trespassing-plea-deal.html

Key Senate Democrats push Southwest CEO for answers on holiday meltdown

Fifteen senators signed a letter to Southwest CEO Bob Jordan demanding answers about the airline’s year-end meltdown.

Read more at: https://www.cnbc.com/2023/01/13/key-senate-democrats-push-southwest-ceo-for-answers-on-holiday-meltdown.html

U.S. uninsured rate fell during the Covid pandemic as Medicaid and Obamacare coverage grew

In the first quarter of 2022, the uninsured rate dropped to an all-time low of 8%, according to the report.

Read more at: https://www.cnbc.com/2023/01/13/us-uninsured-rate-fell-during-covid-pandemic-as-medicaid-and-obamacare-coverage-grew.html

The Mega Millions jackpot is $1.35 billion. Here are 3 tips for navigating a win’s ‘cycles of surprise,’ says advisor

If you find yourself holding the winning ticket, these three tips can help you get off on the right foot as you start navigating your new-found wealth.

Read more at: https://www.cnbc.com/2023/01/13/mega-millions-jackpot-is-1point35-billion-3-tips-for-navigating-a-win.html

School lunch, eggs, and airfare: Why inflation soared for 10 items in 2022

Expiring federal aid, a deadly outbreak of bird flu and war in Ukraine combined to send inflation skyrocketing for a handful of consumer items.

Read more at: https://www.cnbc.com/2023/01/13/why-inflation-hit-these-10-items-hardest-in-2022.html

WWE’s smaller rival AEW interested in merger, sources say

WWE rival AEW is owned by the Khan family, which also owns the NFL’s Jacksonville Jaguars.

Read more at: https://www.cnbc.com/2023/01/12/aew-has-interest-merging-wwe.html

Disney board exposed itself to activist intervention, but Peltz may be overreaching

Activist investor Nelson Peltz wants a Disney board seat, but his argument should be focused on succession planning rather than stock performance.

Read more at: https://www.cnbc.com/2023/01/12/disney-peltz-succession-plan-iger.html

Nelson Peltz lays out his case for Disney proxy fight, slams Fox acquisition

Disney will be facing Nelson Peltz’s Trian Fund Management in a proxy fight.

Read more at: https://www.cnbc.com/2023/01/12/nelson-peltz-talks-disney-proxy-fight.html

Nike CEO touts strength in Gen Z China shoppers as Covid disruptions dent regional sales

Nike’s CEO John Donahoe said the company is “really focused” on Gen Z consumers in China and aims to see inventory levels normalized by the end of the fiscal year.

Read more at: https://www.cnbc.com/2023/01/12/nike-ceo-john-donahoe-touts-strength-in-gen-z-china-shopper.html

The Fed Sent $76BN To Treasury In 2022; It Is Now Sending $650 Million To Banks Every Day Instead

The Federal Reserve announced on Friday that it sent $76 billion in profits to the US Treasury last year, though those transfers stopped in September when its income turned negative and the Fed started accumulating a massive, multi-billion loss which totaled $18.8 billion by the end of the year, and which has only grown exponentially every since. Only the Fed was quick to correct any misperception associated with calling its massive wealth transfer a loss – after all, the genius brain trust of career academics at the Fed could never be associated with such pedestrian concepts as a “loss” as that would tarnish its brilliance and imply the need for a bailout by Congress, similar to what happened in the UK – and opted for the term “deferred asset” which supposedly “has no implications for the Federal Reserve’s conduct of monetary policy or its ability to meet its financial obligations”; and after all, the Fed can always print whatever money it needs to plug the “deferred asset” hole.

Read more at: https://www.zerohedge.com/markets/fed-sent-76bn-treasury-2022-it-now-sending-650-million-banks-every-day-instead

Get Comfortable With ‘VIX Up, Market Up’

Via SpotGamma.com,

TL;DR: SpotGamma believes that there will be many periods of high call buying as traders protect against missing market rallies.

2023 will be the year that the VIX index shifts from being known primarily as a “fear indicator” to the “fear of missing out indicator”. This is because traders will be increasingly concerned about missing a significant market rally, which may result in spurts of heavy call buying. This heavy call buying can, over short periods, drive the VIX higher.

These ideas have been discussed in several of our member’s notes, here.

*  *  *

2022 was a fascinating year in markets, particularly from the perspective of options volatility. The most well-known measure of volatility is the VIX index, historically known as the “Fear gauge” because it tends to spike when stock markets are crashing. The reason for this is that in tumultuous times traders will often seek output protection. As more traders purchase put options, it increases the price of the VIX.

However, an interesting thing happened last year: The VIX had an intraday high of 39 on January 24, 2022, and never made a new intraday high despite escalating geopolitical tensions, a record

Read more at: https://www.zerohedge.com/markets/get-comfortable-vix-market

20 Year Old Colorado College Tennis Player Dies Unexpectedly In His Sleep

We hate to say it, but another day, another mysterious and unexpected death of a seemingly normal collegiate athlete. As we wrote yesterday, either there is a new focus in media on reporting about the untimely deaths of athletes and young adults, or something very odd appears to be taking place across the country.

Jack Madison, a sophomore on the Colorado College men’s tennis team, passed away in his sleep on January 2nd, a new report from the Gazette, published yesterday, confirms. Colorado College vice president and director of athletics Lesley Irvine commented: “We are devastated by the tragic passing of Jack Madison.”

A sought-after athlete, the piece notes that Madison was recruited “out of Bexley, Ohio, where he was a two-time all-state selection at Columbus Academy.” His cause of death has not been announced.

…

Read more at: https://www.zerohedge.com/markets/20-year-old-colorado-college-tennis-player-dies-his-sleep

Americans Finding It Difficult To Pay Credit Card Dues On Time; Delinquency Rises Amid All-Time-High Interest Rates

Authored by Naveen Anthrapully via The Epoch Times,

A larger number of U.S. consumers are having a tough time paying off credit card dues every month in an environment of elevated inflation, with those making lower income less likely to clear their debts while accruing greater interest payments.

Roughly 46 percent of credit card holders do not pay off their dues in full each month, according to data from Bankrate in December.

This is up from 39 percent a year back.

Roughly 43 percent of those with credit card debt are not aware of the interest rates charged on their cards.

“People may not be fully aware of how expensive credit card debt—or other alternative loans—are, and that interest …

Read more at: https://www.zerohedge.com/personal-finance/americans-finding-it-difficult-pay-credit-card-dues-time-delinquency-rises-amid

Tesla cuts prices by up to a fifth to boost demand

The electric car maker is reducing prices by thousands of pounds as the global downturn threatens sales.

Read more at: https://www.bbc.co.uk/news/business-64266471?at_medium=RSS&at_campaign=KARANGA

UK economy beats expectations with November growth

The economy grew by 0.1% in November, partly boosted by World Cup fans spending more in pubs and restaurants.

Read more at: https://www.bbc.co.uk/news/business-64238309?at_medium=RSS&at_campaign=KARANGA

Byron Burger chain owner shuts sites and axes jobs

The company will close nearly half of its restaurants and cut 218 staff in a further restructuring.

Read more at: https://www.bbc.co.uk/news/business-64260312?at_medium=RSS&at_campaign=KARANGA

Tech View: Doji candle on Nifty weekly charts shows tug-of-war. What traders should do next week

For the last few weeks, the index is trading above the 20-WMA, which has resulted in a triangle pattern formation on the daily chart. After a recent base formation near the lower end of the pattern, Nifty witnessed a smart recovery on January 13. Going ahead, 18,000-18,050 will be the key area beyond which the index will be set for a larger up move. On the downside, 17,800 will continue to provide a cushion for the index.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-doji-candle-on-nifty-weekly-charts-shows-tug-of-war-what-traders-should-do-next-week/articleshow/96969156.cms

Wipro attrition rate moderates for 4th quarter to 21.2%

Voluntary attrition moderated 180 bps from the previous quarter, landing at 21.2% for the trailing 12 months for the quarter,” Wipro said in its earnings release. This was the fourth quarter where the attrition rate has moderated

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/wipro-attrition-rate-moderates-for-4th-quarter-to-21-2/articleshow/96967190.cms

L&T Tech shares tumble over 6%. Here’s why

The company has signed an agreement with parent Larsen & Toubro to acquire its Smart World & Communication business for Rs 800 crore

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/lt-tech-shares-tumble-over-6-heres-why/articleshow/96963439.cms

Crypto: ‘Super lame,’ says Gemini co-founder Tyler Winklevoss about SEC charges

Tyler Winklevoss, co-founder of Gemini Trust, calls new SEC charges against it and Genesis Global Capital ‘disappointing,’ in a Twitter thread.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-717D-51E929E1C6FE%7D&siteid=rss&rss=1

Futures Movers: Oil futures score a weekly gain of more than 8% as China’s economic reopening boosts demand prospects

Expectations for China’s reopening to spark crude demand contribute to a more than 8% weekly rise in oil futures.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-717D-7166B270A445%7D&siteid=rss&rss=1

JPMorgan Chase, Bank of America and Wells Fargo earnings show the good, the bad and the ugly of people’s finances. So how are they holding up?

The bank results come a day after December inflation data showed more signs of easing.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-717E-16F4BE27FA67%7D&siteid=rss&rss=1