Written by Gary
Mexico makes strategic move to snag U.S. refinery (SPY +0.02% flat). Canada to boost oil exports to the U.S. S and P CoreLogic Case-Shiller Home Price Index Growth Continues.
Here is the current market situation from CNN Money | |
![]() | North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 1.21%, while the IPC led the S&P 500 lower. They fell 1.14% and 0.06% respectively. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
![]() | A Rare Moment Of Stability For Oil PricesOil prices have generally been trending higher over the past few months as the demand outlook for the commodity improved amid mass vaccination efforts. This week, however, benchmarks have experienced a rare moment of stability. This stability does not reflect stability in the market environment. On the contrary, it is the result of bullish and bearish events equally strong that are basically canceling each other for the time being. On the bearish side, we have the news about the U.S.-Iran talks in Vienna, with most reports |
![]() | Mexico Makes Strategic Move To Snag U.S. RefineryShell has struck a deal with its partner in the Deer Park refinery, Pemex, to sell the facility. The deal was instigated by Pemex, not Shell. “Shell did not plan to market its interest in the Deer Park refinery; however, following an unsolicited offer from Pemex, we have reached an agreement to transfer our interest in the partnership to them,” Shell’s Downstream Director, Huibert Vigeveno, said in a press release. The $596-million deal for the Houston, Texas, facility will give Mexico’s state-owned oil and gas company full control over the 340,000-bpd |
![]() | Canada To Boost Oil Exports To The U.S.Canadian crude oil exports to the United States are about to increase this year as additional pipeline capacity comes online and oil sands output increases, Argus reports, adding that demand for heavy crude has also been on the rise with few producers available. Pipeline export capacity will rise by some 420,000 bpd at least, the report noted, while production of heavy crude in the oil sands improves. The largest capacity addition will come from Enbridge’s Line 3 expansion, to be completed by the fourth quarter, according to the company. The expansion |
![]() | More Than 50% Of UK Oil Jobs Could End Up In Renewables By 2030More than half of the people currently employed in the UKs offshore oil and gas industry could by 2030 be working on low-carbon energy projects, research from Robert Gordon University in Scotland has suggested. According to the research, the great majority of these jobs will go from oil and gas into offshore wind farms. The British offshore wind energy is the largest in the world, the report noted, and could employ up to 90,000 people by 2030. Another 40,000 jobs will be created in other low-carbon energy segments of the industry, including |
![]() | OPEC Will Force Overproducing Members To Comply And CompensateOPEC has had to remind once again the laggards in compliance in the OPEC+ oil production deal to submit plans on how they will compensate for pumping above their respective quotas in recent months, sources at OPEC told Energy Intelligence this week. There are 10 producers in the OPEC+ alliance who have overproduced beyond their allowances since the latest pact became effective on May 1 last year. Of those 10 producers, as many as seven have yet to submit plans to the OPEC Secretariat on how they plan to compensate for breaching their quotas, the |
![]() | Secret Meeting Between Saudi Arabia And Iran May Trigger Major Policy ChangeA number of peculiar things have happened in the Middle East in the past few weeks involving the U.S., Saudi Arabia, and the UAE, all with some sort of focus on Iran. To begin with, at the end of April, the U.Ss designated main man in Saudi Arabia – Crown Prince Mohammed bin Salman stated very publically that he seeks a good and special relationship with Iran. We do not want Irans situation to be difficult, on the contrary, we want Iran to grow and to push the region and the world towards prosperity. |
![]() | Fauci says U.S. can still end HIV epidemic by 2030 despite Covid pandemicDr. Fauci told a House committee that the nation has not gone “backward” in the fight against HIV. |
![]() | Axiom Space lines up second private flight to the ISS, led by record-holding astronaut Peggy WhitsonAxiom Space on Tuesday announced that retired NASA astronaut Peggy Whitson and auto racer John Shoffner will lead the company’s second private spaceflight. |
![]() | Amazon Prime Day is coming up. Here’s how to snag the best dealsAmazon has moved its two-day shopping event to June this year. Here’s how to make the most of the big sale. |
![]() | After George Floyd was killed, retailers pledged to put Black-owned brands on shelves. Here’s how it’s goingBlack-owned goods on the shelves of national retailers such as Walmart and Nordstrom has become one of the most visible signs of change in the corporate world. |
![]() | Half of U.S. adults will be fully vaccinated against Covid by tonight, White House saysPresident Joe Biden set the goal of getting 70% of adults to receive at least their first dose of a Covid vaccine by the Fourth of July. |
![]() | United shares jump after airline says domestic leisure fares topped 2019 levelsUnited says domestic leisure fares are above 2019 levels, a trend that it expects to continue this summer. |
![]() | Moderna says its Covid vaccine is 100% effective in teens, plans to seek FDA OK in early JuneModerna’s Covid-19 vaccine is the second shot behind Pfizer’s to demonstrate high efficacy in younger age groups. |
![]() | From powerful tidal turbines to huge wave machines, Scotland is becoming a hub for marine energyOver the years, a wide range of companies have tested their tech at Orkney’s European Marine Energy Centre. |
![]() | Wall Street has high expectations for Ford’s investor dayFord’s stock price has roughly doubled since Farley took control of the company Oct. 1. Investors will be watching to see if he can keep up the momentum. |
![]() | The 2021 CNBC Disruptor 50: How we chose the list of companiesA record 1,565 start-ups were nominated for the 2021 CNBC Disruptor 50. Here’s the criteria that ultimately set the list-makers apart from the field. |
![]() | These are the 2021 CNBC Disruptor 50 companiesCNBC reveals the 2021 Disruptor 50 list, identifying start-ups leading consumer, technology and business shifts ” and valued by investors in the billions. |
![]() | The ‘Greening’ Of Bitcoin: Will China’s Forced Mining Exodus Crush Anti-ESG Case?The ‘Greening’ Of Bitcoin: Will China’s Forced Mining Exodus Crush Anti-ESG Case? China’s crackdown on crypto may have a silver lining after all. While Beijing’s bitcoin battering efforts – for myriad reasons including a lack of centralized control (translation: use our CBDC or else), a pathway for capital outflows (translation: use our CBDC or else), and the latest somewhat humorous “crypto does not meet China’s carbon goals” – have, along with Elon’s tweets, tamped down enthusiasm for the cryptocurrency; the perhaps unintended consequence of the actions of Musk (reversing his advocate position by highlighting the anti-ESG case) and China’s regulatory crackdown (again) will be the ‘greening’ of crypto and inevitably enabling more progressive asset allocators to move reserves its way.
And it could be happening sooner than expected as China’s Global Times (broadly considered Beijing’s mouthpiece) reports that China’s recent ban on bitcoin-related activity will reshape the landscape of the global mining industry and force more Chinese miners to migrate overseas, such as to the US.
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![]() | Picking Up Pennies In Front Of A SteamrollerPicking Up Pennies In Front Of A Steamroller Authored by Lance Roberts via RealInvestmentAdvice.com,
That was a comment I got on Twitter following a recent newsletter. where I discussed increasing our exposure concerning our short-term œbuy signals.  To wit:
I can understand the confusion when this past week I discussed the issue of œIf everyone sees it, is it still a bubble? Â
How do you square a long-term œbearish  outlook on future returns with a sh … |
![]() | WaPo Head ‘Fact Checker’ Glenn Kessler Heckled Over Lab-Leak Flip-FlopWaPo Head ‘Fact Checker’ Glenn Kessler Heckled Over Lab-Leak Flip-Flop With the COVID-19 ‘lab leak’ theory finally gaining mainstream legitimacy following recent reports from the Wall Street Journal, and an admission by Anthony Fauci that he’s now open to the possibility, formerly smug establishment ‘fact checkers’ are now scrambling to salvage their reputations after categorically dismissing a lab leak as a ‘debunked conspiracy theory.’
The latest ‘fact checker’ to bend the knee is the Washington Post’s Glenn Kessler – who last year issued a snarky tweet to Sen. Ted Cruz (R-TX) in response to Cruz accusing WaPo of “abandoning all pretenses of journalism to produce CCP propaganda” in response to Kessler promoting a video suggesting that an accidental lab leak was ‘doubtful.’ “We deal in facts, and viewers can judge for themselves,” Kessle … |
![]() | Rand Paul Responds To Death Threat, Suspicious Package Of White Powder Sent To HomeRand Paul Responds To Death Threat, Suspicious Package Of White Powder Sent To Home Authored by Janita Kan via The Epoch Times, Sen. Rand Paul has denounced threats to him and his family after a suspicious package containing white powder was delivered to his home on Monday.
A senior adviser in Paul’s office told … |
![]() | Liberty Steel nationalisation is unlikely, says Kwasi KwartengThe business secretary says taking control of the steel company is the least likely option. |
![]() | US business groups team up to oppose tax rise proposalsA coalition of 28 business groups has been formed in response to tax proposals by the Biden administration. |
![]() | Airbnb boss: ‘Cornwall is now more popular than London’CEO Airbnb Brian Chesky says people’s travel habits have fundamentally changed due to the pandemic. |
![]() | Up 14% in 2 days! Clarity on Concor’s privatisation plan may support rally in near termConcor currently uses 26 terminals. A dispute had cropped up last year after the railways demanded LLF of Rs 1,300 crore annually, which was around 2.5 times higher than Concor’s estimate. |
![]() | Still drooling over Dogecoin? Choose your way in crypto mart lest you get trappedMany punters, drooling over dogecoin and other virtual currencies, are now trapped trying to chase momentum. They fell for the fear of missing out (FOMO) and now their dreams of becoming wealthy overnight lay shattered, as the cryptocurrency market lost $830 billion in the week’s meltdown. |
![]() | India plans stimulus package for sectors worst affected by second waveIn April, the finance ministry eased rules for capital expenditure by government departments to try to boost spending in the economy. Pressure also is building on the central bank — which serves as the banking sector regulator — to ease loan repayment rules, especially for sectors badly hit by this virus wave. |
![]() | S and P CoreLogic Case-Shiller 20 City Home Price Index March 2021 Year-over-Year Growth ContinuesWritten by Steven Hansen The non-seasonally adjusted S and P CoreLogic Case-Shiller home price index (20 cities) year-over-year rate of home price growth is now 13.3 %. The index authors stated, “The March gain is the largest since December 2005 and is also one of the largest in the index’s 30-year history..”. |
![]() | Metals Stocks: Gold climbs toward key resistance at $1,900 on drop in U.S. consumer confidenceGold futures move higher Tuesday to make a play for $1,900 an ounce, a key price resistance level, as data show monthly declines in U.S. consumer confidence and new home sales, boosting the precious metal’s appeal as a haven investment. |
![]() | The Ratings Game: Coinbase stock gets a boost from J.P. Morgan, as analyst recommends investors buyShares of Coinbase Global Inc. rallied Tuesday, after J.P. Morgan analyst Kenneth Worthington recommended investors buy, saying the company occupies a “key position” in the U.S. market for cryptocurrency transactions, a technology which is expected to become more embedded in financial markets. |
![]() | Therese Poletti’s Tech Tales: It’s time for Elon Musk to start telling the truth about autonomous drivingThe Tesla CEO for years has made exaggerated claims about the potential of autonomous driving. But the reality is that it will likely never happen. |
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