24May2021 Pre-Market Commentary: Oil Price Rises As Dollar Weakens, WTI Crude 64.40, US Dollar 89.91, DOW +130 Points, Nasdaq Up 0.8%, Bitcoin 36600, Dogecoin Off $0.25 Low To 0.34

Written by Gary

Futures jump as inflation fears fade on China’s commodity crackdown (SPY +0.5%). Biggest premarket movers: Virgin Galactic, Moderna, AMC Entertainment.

Here is the current market situation from CNN Money
	European markets are mixed. The DAX is higher by 0.06%, while the CAC 40 is leading the FTSE 100 lower. They are down 0.43% and 0.07% respectively.

What Is Moving the Markets

Here are the headlines moving the markets.
	Can The U.S. Compete With Qatari LNG? Qatar’s recent announcement that it would build the world’s largest LNG production facility did not prompt any applause from other LNG producers. Now, the tiny Gulf nation is also cutting its prices and expanding into the spot market to retain its number-one position in LNG exports. This could result in the death of some planned U.S. LNG projects. U.S. liquefied natural gas quickly became a threat for the world’s top exporter. While Qatar is still the cheapest LNG producer, the abundance of shale gas made it cheap and competitive in some markets,
	Is It Possible To Have A Nuanced Discussion About The Energy Transition? Climate change is no longer a fiery apocalypse that we expect to happen in the far-off future. Rising sea levels, wild-fires, heatwaves, and extreme weather events are already wreaking havoc everywhere even as we speak and could cost the global economy a staggering $1 trillion dollars over the next five years in crumbling infrastructure, reduced crop yields, health problems, and lost labor as per the Carbon Disclosure Project (CDP). Climate change is real, and its effects are clearly devastating: Since January 2019, we have recorded no less than
	Did China Just Sound The Death Knell For Venezuelas Oil Industry? China has announced that it will impose taxes on heavy sour crude, a move that could hit Venezuela hard as it continues to struggle with U.S. sanctions and a dilapidated oil industry. Media reports suggest as many as 400,000 bpd of Venezuelan oil could be orphaned as new Chinese tax laws make it impossible for the country to export its crude to Asia. New regulations expected to come into place on June 12 would make the profit margins on Venezuelan oil too low to warrant its current export route. Venezuela has not been exporting oil directly to
	Oil Companies Close The Taps As Fear Of Civil War Grows In Colombia Key Latin American U.S. ally and the regions fourth-largest oil producer Colombia finds itself rocked by anti-government protests which are now into their third week. This has even reignited fears of renewed civil war in the strife-torn Andean country. Colombias anti-government protests began with a national strike on 28 April 2021 called by various civil society and trade union groups in response to President Duques proposed tax reform. A massive fiscal black hole where the budget deficit had reached nearly 9% of GDP is ratcheting
	Will The Worlds Largest Oil Region Become A Hydrogen Hub? The biggest oil-exporting region in the world, the Middle East, has set its sights on becoming a major clean energy exporter of green hydrogen. The largest oil producers in the Arab Gulf have jumped on the hydrogen bandwagon especially its so-called green variety produced from water electrolysis using electricity from solar or wind as it gains momentum with governments and the worlds largest international oil companies. Hydrogen is expected to play a prominent role in lowering carbon emissions from energy-intensive
	Are The Risks Of Nuclear Energy Overblown? Nuclear energy is all about control. The process by which we generate nuclear power, after all, is not so different from the mechanics that take place to trigger an atomic bomb. Its all about the way in which the process of nuclear fission is tightly controlled, scheduled, and slowed, which makes nuclear energy production possible and safe. The amount of force that holds the nucleus of an atom together is monumental, and stores a massive amount of energy. When we split atoms into smaller atoms, or fission fragments, this
	Virgin Galactic stock jumps after successful weekend spaceflight test Virgin Galactic shares jumped in premarket trading on Monday, following the company’s successful spaceflight test on Saturday.
	5 things to know before the stock market opens Monday U.S. stock futures rose as tech names in Monday’s premarket shook off another rough stretch for bitcoin over the weekend.
	Ryanair CEO says Belarus plane grounding was ‘state-sponsored piracy’ “This was a case of state-sponsored hijacking … state-sponsored piracy,” Ryanair’s Michael O’Leary said.
	Two doses of Covid vaccines provide effective protection against variant found in India: Study Two doses of the Pfizer-BioNTech or AstraZeneca-University of Oxford vaccine provide protection against the Covid variant first found in India, a study found.
	This $68 billion Australian city wants to become the next Silicon Valley “The world has learned a lot from Silicon Valley,” Greater Springfield’s founder told CNBC. “We said: that’s 85 years old. Let’s design the latest version.”
	‘War’ footing needed to correct economists’ miscalculations on climate change, says professor Economic forecasts predicting the potential impact of climate change grossly underestimate the reality and have delayed global recovery efforts by decades, a leading professor has said.
	These uniquely Texan canned craft cocktails boomed after launching during the pandemic Built and bred in the vibrant heart of Austin, Texas, the canned cocktails business is the craft of co-founders Quentin Cantu and Brian Murphy.
	U.S. Covid cases hit lowest level since June as nation looks toward Memorial Day, summer travel The declining infection counts comes as many Americans plan to travel, spend days at the beach and gather with friends and family over the summer.
	It’s not your imagination. Rising airfares and hotel rates are making vacations more expensive Airfare and hotel rates are rising as more travelers take vacations.
	Virgin Galactic completes first spaceflight in over two years, in step toward finishing development Virgin Galactic took a step closer to completing development of its space tourism system on Saturday.
	Luceo Sports, a software firm that digitizes NBA playbooks, seeks $5 million investment for expansion The Arizona-based firm has NBA team agreements and wants to expand to reach NFL teams with its playbook themed software.
	Covid vaccine passports: Everything we know so far More activities are opening to vaccinated individuals. The question is how they will prove their status.
	Cramer’s week ahead: Big week of earnings with Snowflake and Toll Brothers reporting “All in all, this is a historically slow week, but there are enough new companies reporting that it’s now jam-packed,” “Mad Money” host Jim Cramer said.
	Senator Tom Cotton: Fauci Is “Playing Word Games; Trying To Cover Tracks” Senator Tom Cotton: Fauci Is “Playing Word Games; Trying To Cover Tracks” Authored by Steve Watson via Summit News, Senator Tom Cotton accused Anthony Fauci of ‘playing word games’ regarding his involvement with the Wuhan Institute of Virology and attempting to cover his tracks where the origins of COVID are concerned. Appearing on Fox News Sunday, Cotton said that Fauci could be involved in a œgenuine scandal . œIt is imperative that the NIH come clean and tell us exactly what happened, Cotton said, adding œWell, I think that a lot of these so-called experts and scientific bureaucrats are trying to cover their tracks. Speaking of theÂ ‘gain of function’ rese …
	Oil Rebounds As Iran Nuclear Deal Talks Hit A Snag Oil Rebounds As Iran Nuclear Deal Talks Hit A Snag Oil prices rebounded from last week’s Iran deal optimism-inspired rout, as a new potential “snag” emerged in reviving the 2015 Iran nuclear deal that could add more oil supply, even as Goldman Sachs said last night that the case for higher prices remains intact even with increased Iran exports. Brent crude oil futures for July rose $1.06, or 1.8%, to $67.50 a barrel West Texas Intermediate for July was at $64.73 a barrel, up $1.15, or 1.8%. Oil prices fell almost 3% last week after Iran’s president, Hassan Rouhani, said the United States was ready to lift sanctions on his country’s oil, banking and shipping sectors. However, as we reported over the weekend, the speaker of Iran’s parliament said on Sunday a three-month monitoring deal between Iran and the U.N. nuclear watchdog had expired and that the country would block inspectors from accessing nuclear site images. However, off …
	Red States Lead The Charge In Lowest Unemployment Rates Red States Lead The Charge In Lowest Unemployment Rates Authored by Tom Ozimek via The Epoch Times, Red states, along with lone Democrat-controlled Vermont, topped the charts in lowestÂ unemploymentÂ rates in April, while blue states recorded the highest jobless rates, according to the Commerce Department. In aÂ Friday release, the Commerce Department announced that the top five states with the highest unemployment rates in April wereÂ Hawaii (8.5 percent), followed by California (8.3 percent), New Mexico and New York (8.2 percent each), and Connecticut (8.1 percent). All five states have Democrat trifectas, meaning that the state houses and senates, as well as the governorships, are Democrat-controlled. At the same time, the top four states with the lowest jobless rates in …
	Futures Jump As Inflation Fears Fade On China’s Commodity Crackdown Futures Jump As Inflation Fears Fade On China’s Commodity Crackdown Now that the inflation narrative has been crippled with Bloomberg picking up on what we said last week about China’s tumbling credit impulse… … and the deflationary consequences thereof, while an acceleration of China’sÂ crackdownÂ on commodities speculation weighed on raw-material prices with steel dropping more than 5% and iron ore tumbling by close to the daily limit, stocks are again free to roam about the stratosphere as the risk of runaway prices is fading and S&P futures rose to 2-week highs on Monday as higher oil prices lifted energy stocks ahead of key inflation readings later this week when the personal consumption data is released on Thursday, the Fed’s pref …
	Liberty Steel to sell Stocksbridge plant to pay off lender The struggling steel-maker says the move will allow it to pay back one of its main creditors in full.
	Shopping activity still to recover from pandemic Shoppers remain cautious after lockdown curbs eased further, with numbers still 28.7% down on 2019.
	Cineworld reopening boosted by demand for Peter Rabbit 2 The chain, which has seen huge losses in the pandemic, says film fans have flocked back to its cinemas.
	Devyani’s Rs 1,400-cr IPO papers reveal best-in-class listed QSR Covid 2.0 has triggered lower discounting and higher delivery fees by aggregators, alongside a 10-15 per cent reduction in restaurant supply.
	BSE hits $3 trillion m-cap for the first time ever The exchange’s market cap had earlier in the year hit Rs 200 lakh crore mark for the first time ever.
	7 stocks that may deliver solid returns in a few weeks Falling Covid cases have led to improved market sentiments in the last few days. Many stocks have seen breakouts from narrow trading ranges and some have even reversed the trend. This presents a good opportunity for traders to benefit from some momentum trading. Here’s a list of seven high conviction stock ideas from Angel Broking, HDFC Securities and Kotak Securities.
	The Tell: Inflation scare? The stocks that perform best ” and worst ” when prices rise The biggest inflation scare in 40 years is sending stock-market investors back to the history books for a look at what does and doesn’t work when prices are rising.
	London Markets: Miners drop as China targets commodity speculation U.K.-listed miners slipped on Monday, after China took steps to crack down on commodity speculation.
	Metals Stocks: Gold prices resume climb toward resistance at $1,900 as dollar, yields hold steady Gold futures on Monday climb, attempting to test a resistance level at around $1,900, as a subdued U.S. dollar and Treasury yields lends some support to bullion buying.