13Apr2021 Market Close: Bitcoin Rallies To All-time High As Traders Eye Coinbase Listing, DOW Down 68 Points, Nasdaq Up +1.1%, Bitcoin 63200, SP 500 Books Record High

Ecuadors Shock Presidential Election Result May Save Its Oil Industry

Ecuadors beaten-down petroleum industry has been struggling to recover from a savage 2020 where pipeline failures, the COVID-19 pandemic, corruption scandals, and heightened political uncertainty sharply impacted operations. There were fears that the presidential elections would see poll favorite socialist economist Andres Arauz, the protg of former President Rafael Correa, emerge victorious from the runoff held on Sunday. Polls, only last week, indicated that Arauz was the leading candidate going into the presidential runoff

U.S. State And Local Officials Call On Biden To Ban New Oil Permits

As many as 375 local and state elected officials are calling on the Biden Administration to institute a ban on new oil and gas drilling permits on federal lands and in federal waters and stop energy infrastructure for fossil fuels. In the first week in office, President Joe Biden pausedin January new oil and natural gas leases pending completion of a review for potential changes to the regulations. The local elected officials now want the federal government to play its role in averting a climate crisis and sent a letter to President Biden,

Oil Prices Rangebound As Long Term Problems Emerge

Have you already subscribed to the Oilprice.com youtube channel? If not, sign up today to make sure you don’t miss out on any of the breaking news and educational videos produced every week.Chart of the Week- U.S. CO2 emissions declined by 11% last year.- Within the power sector, coal emissions dropped by 19%, and natural gas emissions declined by 3%.- Power generation from wind and solar increased by 17%.Market Movers- Jeffries upgraded ExxonMobil (NYSE: XOM) to hold from

The Difficult Truth About Decarbonization

A recently released report by Carbon Tracker claims that fossil fuel-reliant countries will see a 51% drop in oil and gas revenues in the next two decades as the world moves to cut emissions. At the same time, the EIA estimates that global energy demand will increase by 50 percent by 2050 and most of this increase in demand will come from non-OECD countries. With fossil fuels supplying 84% of the worlds energy and clean energy technologies still far from being an acceptable replacement, there is an unavoidable decarbonization dilemma the

Venture Capital Bets Big On Texas As World Capital Of Clean Energy Tech

Venture capital fund manager Energy Transition Ventures said on Tuesday it had launched the first venture fund in Texas that will exclusively invest in energy transition technologies. The fund is founded in the worlds energy capital Houston by cleantech start-up executives and venture capitalists Craig Lawrence and Neal Dikeman, with anchor investment from two operating companies from the GS Group of South Korea. Energy Transition Ventures will be investing in early-stage start-ups in North America. Texas is the energy capital of

Oxford Institute: Don’t Expect A Supercycle In Oil

The markets are not headed to a new supercycle in oil, and $100 a barrel oil is still a very distant possibility unless major unexpected market shocks occur, analysts at the Oxford Institute for Energy Studies (OIES) said in their latest monthly short-term outlook. Despite the rising prices so far this year, and despite the expectations of improving global oil demand, especially later this year, the market is still missing key triggers of an oil supercycle, OIES researchers and economists noted. As oil prices rallied earlier this year, some banks,

NFL to require vaccinations for employees, with some exceptions

The NFL says that getting vaccinated is the fastest way to get back to normal.

Major League Soccer lands a top corporate sponsorship with Procter & Gamble

P&G will sponsor some top soccer events as part of the five-year deal. These events include the MLS All-Star Game and the Leagues Cup.

Private equity giant Carlyle Group values Beautycounter at $1 billion in bet on ‘clean’ cosmetics

Private equity firm Carlyle Group takes majority stake in cosmetics company Beautycounter at a $1 billion valuation.

Roblox shares up after gaming platform partners with Hasbro for Monopoly and Nerf products

Toymaker Hasbro said Tuesday it will partner with Roblox, an online video game platform, on Nerf and Monopoly merchandise.

Dr. Anthony Fauci explains what the U.S. pause on J&J’s Covid vaccine means

Dr. Fauci said the pause will give U.S. health regulators the time they need to thoroughly investigate how six women developed a rare blood clotting disorder.

Panicked patients call doctors as Covid vaccine hesitancy rises with J&J blood clot issue

The warning from U.S. officials to states is likely to fuel more hesitancy in taking J&J’s shot and other vaccines, threatening to stall the pandemic recovery.

Disney updates park dress code on hair and jewelry, allows workers to uncover tattoos

A new initiative within Disney’s parks division will finally allow cast members to show off tattoos and style themselves in costumes that are gender inclusive.

Risk of blood clots is higher from Covid than from J&J shot, says doctor who worked on other vaccine trials

The risk of blood clots is higher from Covid than from J&J’s vaccine, Dr. Purvi Parikh, who worked on other Covid vaccine trials, told CNBC on Tuesday.

Hit series ‘Bridgerton’ renewed for season 3 and 4 on Netflix

The news comes a week after the formal announcement that leading man Rege-Jean Page would not return to reprise his role as Simon Basset, the Duke of Hastings.

GM shortens downtime at Tennessee plant as chip supply improves

GM’s Spring Hill Assembly will return to regular production on April 19 after only a week of downtime instead of two weeks.

Boeing’s sales again outpace cancellations, jetliner deliveries pick up

Boeing posted net positive sales of 40 aircraft last month as more customers ordered Max jets.

CVS, Walgreens, grocers halt Johnson & Johnson vaccines, scramble to reschedule appointments

Drugstores and grocers, who play a crucial role in the vaccine’s administration, are now having to decide how to proceed after the FDA request on Tuesday.

NFT sales top $2 billion in first quarter, with twice as many buyers as sellers

Despite recent data showing a big drop in average prices from February, sales of NFTs at the start of the year showed an explosion of interest and buying.

SPY Has Just Done Something It’s Never Done Before

SPY Has Just Done Something It’s Never Done Before

It appears “clots” won’t stop this meltup…

…as early weakness was met by a wall of buying around the CPI print and a replay of the reflation bet (Big-Tech up, Small Caps down) at the cash open. Nasdaq was the day’s best performer, S&P closed green as Dow and Small Caps erased most of their losses for a small down day…

The Dow was hampered from its exuberance by JNJ’s modest drop.

Biden To Announce Afghanistan Troop Exit “Hard Deadline” By Sept 11

Biden To Announce Afghanistan Troop Exit “Hard Deadline” By Sept 11

A report in The Washington Post has revealed that Biden plans to make a major announcement on Wednesday related to a full and final troop withdrawal from Afghanistan. A senior administration official was cited as saying the president will announce a full US troop exit from America’s longest war in history, scheduled to be accomplished prior to the 20th anniversary of the September 11 terror attacks, which is this year.

“President Biden will withdraw all American troops from Afghanistan over the coming months, people familiar with the plans said, completing the military exit by the 20th anniversary of the Sept. 11, 2001, attacks that first drew the United States into its longest war,” Washington Post writes.

“Move To Zero” – Nike Begins To Sell Refurbished Footwear

“Move To Zero” – Nike Begins To Sell Refurbished Footwear

Nike’s latest push towards environmental, social, and corporate governance (ESG) is to open a new segment within the company that will start refurbishing sneakers and resell them to consumers for cheaper prices. Basically, it’s glorified refurbishment that will allow working-poor Americans to afford the latest sneakers (slightly used) for up to a 40% discount.Â

Nike said it would clean the “gently worn, like-new or slightly imperfect sneakers” by hand and make them presentable for resell. For the shoes to qualify for the refurbishment program, the sneakers must be returned to stores within two months of purchase.

“After a shopper returns a pair of shoes to Nike within a 60-day return window, eligible footwear is added to the Nike Refurbished lineup. Each pair is inspected and refurbished by hand, and then given a condition grade. The team uses a number of different products and tools to return shoes to as close to new condition as possible. Once the shoes land back in a Nike store, the price is based on footwear type and condition grade,” Nike said on its website.Â

Peter Schiff: Jerome Powell Is Making Promises The Fed Can’t Keep

Peter Schiff: Jerome Powell Is Making Promises The Fed Can’t Keep

Via SchiffGold.com,

Jerome Powell was on 60 Minutes Sunday to reassure us that everything is great and the economy is in fine shape thanks to the Fed. He went on to guarantee the Fed’s indefinite economic support while downplaying inflation. Powell made a lot of promises, but as Peter Schiff breaks it down in his podcast, it becomes clear they are promises the Fed can’t keep.

Powell closed out the interview with a guarantee. The Fed is will support the economy for as long as it takes to complete the recovery. But Peter said there’s a problem with this promise. The Fed doesn’t have the power to do anything but create inflation.

The idea that the Fed can create economic growth, can create prosperity, when it boils down to it, the only thing that it can do is print money. However you want to describe it, that does not create prosperity.

Grab set for $40bn valuation in US share listing

The Singapore-based firm started as a ride-hailing company and has since expanded.

UK exports to EU rebound partially after January’s slump

Despite the improvement, exports still remain below 2020 levels, the UK statistics body says.

Liberty Steel: Kwarteng defends rejecting request for £170m bailout

The business secretary says the government had to ensure that any money provided would stay in the UK.

Bitcoin rallies to all-time high as traders eye Coinbase listing

The token rose as much as 5.5% to $63,246, exceeding the previous peak in March. Cryptocurrency-exposed stocks such as Riot Blockchain Inc. and Marathon Digital Holdings Inc. also advanced.

OPEC raises 2021 oil demand growth forecast on hope pandemic wanes

Demand will rise by 5.95 million barrels per day (bpd) in 2021, or 6.6%, the Organization of the Petroleum Exporting Countries forecast in its monthly report. That is up 70,000 bpd from last month.

Acuità sets up India’s first ESG rating company

Christened as ESG Risk AI, it is supposed to be India’s first ESG rating company. It will cover a company’s ESG performance across three categories.

: Moderna COVID-19 vaccine rollout begins in England, giving under 30s alternative to AstraZeneca

The Moderna COVID-19 vaccine will start to be used in England from Tuesday, providing an alternative to the AstraZeneca vaccine for people aged under 30.

: Watch out Tesla. This new Mercedes-Benz ‘could be a game changer,’ says Deutsche Bank.

The full-size luxury EQS sedan will launch on Thursday and could completely change the public perception of Mercedes, Deutsche Bank analysts said.

: Babcock shares soar more than 37% on defense giant’s plan to cut 1,000 jobs and shed businesses

Shares in defense giant Babcock International leapt more than 37% on Tuesday after it announced a $2.3 billion, one-off write-down and plans to streamline its business.