04Aug2021 Market Close: Treasury Yields End Mixed In Volatile Trade Amid Weak Jobs, DOW Closes Down 324 Points, Nasdaq Up 0.1%, WTI Crude Slips Further 67.91, US Dollar Steady 92.28

Big Oil Unjustly Under Fire For Dirty Hydrogen

Everyones talking about hydrogen, the magical clean energy that will propel us into a future beyond oil and gas. But is this all just big oil spinning a tale to appease international agencies and activists as pressure to make the shift to renewables mounts? Is the current hydrogen boom really all it’s set out to be or is it another case of greenwashing? Several countries from around the world have put hydrogen at the top of their energy strategies for the next decade, as they strike the balance between continued oil and gas production

Do Lithium Batteries Pose A Major Fire Hazard?

Last Friday, a Megapack at the worlds biggest energy storage construction site caught fire. It took firefighters three days to put the fire out. In a way, however, the incident, which took place in Australia, ignited another fire: a debate about the safety of lithium-ion batteries. Media coverage of energy storage rarely mentions any risks. The focus is invariably on bigger and better storage in anticipation of the future low-carbon energy systems that we are now trying to build. New technologiesincluding alternatives to lithium-ion

U.S. Jet Fuel Stocks Continue To Rise As Production Outpaces Demand

Despite a marked rise in U.S. air travel numbers this year compared to 2020, jet fuel inventories have climbed in recent months as refiners boosted production, while jet fuel demand is still lower than pre-pandemic levels. Refiners in the United States have raised jet fuel production by almost 8 percent, or 102,000 barrels per day (bpd), since the first week of May, the Energy Information Administration (EIA) said on Wednesday. However, as of July 23, the combined total U.S. jet fuel inventory was 9.9 percent higher than the five-year (20162020)

Gazprom Boosts Gas Exports To Europe In H1 2021

Russias gas giant Gazprom boosted its natural gas exports to Europe by 23 percent annually in January to July 2021, Gazprom Export said this week. In the first seven months of this year, Gazproms gas sales to Turkey and Europe reached 115.3 billion cubic meters, up by 23.2 percent annually, but lower than the record high from 2018, according to Gazprom Exports data. Demand for natural gas in Europe has rebounded strongly this year, following the slump in the spring and summer last year when demand fell with the pandemic-induced

Top U.S. Negotiator: Iran Nuclear Deal May Be Impossible

For every week that passes without any breakthrough between Tehran and Washington, the prospect of a restored JCPOA nuclear deal looks bleaker. Talks in Vienna have remained stalled for weeks, especially after Iran previously indicated it would not resume negotiations, expected to enter the seventh round, until after hardline cleric and president-elect Ibrahim Raisi enters office on August 3rd. And now for the first time,the US top negotiator in Vienna is vocalizing “increasing doubts” that deal is possible: “Americas top envoy for

Indian Refiners To Invest $27B To Raise Capacity By 20%

Indias state-held oil refiners are planning to spend as much as US$27 billion (2 trillion Indian rupees) on raising the countrys refining capacity, junior oil minister Rameswar Teli told Parliament on Wednesday. India, the worlds third-largest crude oil importer, hopes to lift its refining capacity by 20 percent by 2025 over its current refining capacity of around 5 million barrels per day (bpd). The refining industry has been modernized and upgraded continuously with the indigenous and imported technologies for refining

CVS Health says the peak of Covid vaccinations has already happened

The drugstore chain and health insurer is trying to figure out what the delta coronavirus variant may mean for its business.

Pfizer will require U.S. employees to get Covid vaccine or undergo weekly testing

The new initiative will “best protect the health and safety of our colleagues and the communities we serve,” Pfizer said in a statement to CNBC.

Dr. Scott Gottlieb says full approval of Covid vaccines unlikely to persuade hesitant Americans

“The reality is these vaccines have been used in hundreds of millions of people,” Dr. Scott Gottlieb told CNBC, adding there’s already a robust data set.

New York auto show canceled due to the spreading Covid delta variant

The show was scheduled to open to the public Aug. 20 at the Jacob K. Javits Convention Center.

GM CEO Mary Barra confirms new electric truck and van for commercial customers

GM plans to add a full-size battery electric cargo van for Chevrolet as well as a medium-duty truck for service and utility vehicles.

Some retailers used the pandemic to accelerate turnaround plans. Those stocks are getting rewarded.

Companies such as Ralph Lauren and Under Armour are reaping the benefits of changes made during the pandemic, and investors are noticing.

Disney’s Galactic Starcruiser hotel will take a family of four to a galaxy far, far away for $6,000

This week Disney revealed some sample pricing for its Star Wars: Galactic Starcruiser hotel.

Vanguard says it will give employees $1,000 to get the Covid-19 vaccine

Vanguard is offering its employees $1,000 to get vaccinated against the coronavirus.

Bezos’ Blue Origin calls Musk’s Starship ‘immensely complex & high risk’ for NASA moon missions

Jeff Bezos’ Blue Origin blasted NASA’s decision to award Elon Musk’s SpaceX the sole contract to build a lunar lander.

Spirit Airlines cancels 60% of its flights to ‘reboot’ after meltdown, vows to learn from disruptions

Spirit Airlines canceled or delayed more than half of its flights as disruptions continued for a fourth day.

Target to pay 100% of college tuition and textbooks in bid to attract workers

The big-box retailer is the latest company to dangle perks to woo job candidates in a competitive labor market.

WHO asks wealthy nations to hold off on Covid vaccine boosters at least through September

The World Health Organization on Wednesday called for a halt of Covid-19 booster shots, citing vaccine inequity around the world.

Stocks Slump, Bonds Pump’n’Dump, Crypto Jumps On Jobs & Jawboning

Stocks Slump, Bonds Pump’n’Dump, Crypto Jumps On Jobs & Jawboning

The bond market should take the headlines today after a wild ride driven by weak jobs data, very mixed Services survey data (ISM record high, PMI 6mo low), and hawkish chatter from Fed Vice-Chair Clarida, which sounded a lot like this…

For all the chaos, the long-bond ended unchanged and the belly only around 1-2bps higher after being bid following the European close…

Source: Bloomberg

The 10Y yield swung wildly, but notice in the chart below that it appea …

Natgas Futures Surge As Imminent Heatwave Sparks A/C Demand Anticipation

Natgas Futures Surge As Imminent Heatwave Sparks A/C Demand Anticipation

Natural gas futures climbed higher Wednesday to a 31-month high on new weather models forecasting hotter temperatures over the next two weeks.Â

Front-month gas futures NGc1 ramped more than 3.5% Wednesday morning to $4.17 per million British thermal units (mmBtu). Earlier in the session, prices tagged $4.19 mmBtu, which were the highest since December 2018.

According to data provider Refinitiv, US temperatures are expected to begin rising next Monday, and another heat wave could hit the Pacific Northwest.Â

Refinitiv projected average gas demand, including exports, would rise from 90.9 bcfd this week to 94.5 bcfd next week as power generators burn more of the fuel to meet rising air conditioning use. The forecast for next week, however, was lower than Refinitiv predicted on Tuesday as high gas prices prompt some power generators to burn coal instead of gas.

The daily temperature anomaly chart shows warmer weather arrives on Monday.Â

Twitter Suspends Journalist Who Repeated CDC Fact On Vaccines

Twitter Suspends Journalist Who Repeated CDC Fact On Vaccines

Authored by Jonathan Turley,

Greg Piper writers for the news site Just The News and recently decided to share a story from The College Fix, where he was previously an editor. The story included the line œVaccines are not safe for everyone.

That line appears to have prompted Twitter to suspend his account despite the fact that some people have medical exemptions from the vaccine due to the high risk posed by preexisting medical conditions. Indeed, the Center for Disease Control and Prevention (CDC) states that some people cannot take the vaccine for medical reasons. The latest censorship controversy is reminiscent of the suspension of writer Alex Berenson after he posted the public results of a Pfizer vaccine trial.

…

“He Will Resign” – De Blasio Slams Arch-Rival Cuomo As DAs In Manhattan, Westchester Launch Criminal Probes

“He Will Resign” – De Blasio Slams Arch-Rival Cuomo As DAs In Manhattan, Westchester Launch Criminal Probes

Few politicians have taken as much abuse from Gov. Andrew Cuomo as NYC Mayor Bill de Blasio. The hapless mayor quickly became a political punching bag for Albany as rumors of the intense animosity between the mayor and the governor were spurred by repeated clashes, some of which even received national attention (like their sometimes conflicting orders during the early days of the pandemic).

With this in mind, watching Mayor Big Bird lay into his erstwhile tormentor during a Wednesday morning during appearances on MSNBC and CBS was almost cathartic. The mayor didn’t mince words, saying Cuomo should face criminal charges, and should resign immediately.

œIf you assault a woman, you do something against her will sexually, that’s criminal, de Blasio said, when asked on CBS Wednesday morning if …

Vanguard: Investment giant to pay vaccinated workers $1,000

Asset manager Vanguard will reward staff who get jabbed, but it won’t mandate vaccinations.

Robinhood shares surge 80% amid frenzied trading

After a poor stock market debut, amateur investors are snapping up shares in the online trading platform.

Net zero targets ‘unrealistic’ says Oxfam report

Oxfam’s chief executive said that net zero targets made by companies and governments are “unreliable and unproven”.

SBI Q1 takeaways: Plummeting SMA-2 loans bring cheer to investors

The year-on-year fall in provisions by nearly 20 per cent also helped the lender post a 55 per cent year-on-year rise in net profit to Rs 6,504 crore.

Sensex surges 546 pts but investors poorer by Rs 50,000 cr; bank stocks rally

Broader market indices ended in the red after traders booked profits. However, the volatility indicator cooled off. The return of FIIs also supported the market.

Titan Q1 results: Co reports net profit of Rs 61 cr, beats estimate; sales rise 74.5%

The jewelry company’s sales in the quarter jumped 74.5 per cent on a year-on-year basis to Rs. 3,249 crore aided by a low base in the year-ago quarter.

: Booking sales beat, but losses exceed expectations as travel industry continues to wait for a rebound

Booking Holdings Inc. exceeded $2 billion in quarterly sales for the first time since the beginning of the pandemic in a Wednesday earnings report, but losses exceeded expectations as the company waits for a stronger bounceback for travel amid the global pandemic.

The Ratings Game: AMD stock scores sixth straight record high as more data shows gains against Intel

Advanced Micro Devices Inc. shares closed at a sixth consecutive record high on Wednesday following continued indications that the chip maker is taking market share away from larger rival Intel Corp.

Bond Report: Treasury yields end mixed in volatile trade amid weak jobs and strong service sector data, plus Fed official comments

U.S. government debt yields end mixed after roller coaster trading on a disappointing private-sector jobs report and strong data on the service sector of U.S. economy, plus comments from one Federal Reserve official, who said the central bank will assess whether to slow down bond purchases “in coming meetings.”