(RTTNews) - Oil prices continued to surge on Thursday amid the continued closure of the critical Strait of Hormuz. The upside was also supported by EIA data revealing declines in U.S. inventories across key refined products.
(RTTNews) - Oil prices continued to surge on Thursday amid the continued closure of the critical Strait of Hormuz. The upside was also supported by EIA data revealing declines in U.S. inventories across key refined products.
The jailing of two Vietnamese men who brokered a sale of 900kg (2,000lbs) of pangolin scales from Africa destined for the Chinese market has returned the spotlight to the illicit trade in an animal that has been poached to the edge of extinction. Prized for its meat and scales, the pangolin has almost disappeared from forests and their hilly habitats of Africa and Asia. Conservationists estimate a...
The jailing of two Vietnamese men who brokered a sale of 900kg (2,000lbs) of pangolin scales from Africa destined for the Chinese market has returned the spotlight to the illicit trade in an animal that has been poached to the edge of extinction. Prized for its meat and scales, the pangolin has almost disappeared from forests and their hilly habitats of Africa and Asia. Conservationists estimate around 1 million have been trafficked over the last decade, triggered by demand for traditional...
Michael Burry has spent decades intriguing investors with his contrarian views. Leading up to the Great Recession in 2008, Burry, who at the time ran his own hedge fund called Scion Capital, bet against mortgage bonds, which eventually collapsed, yielding hundreds of millions in profits for Scion. As one of the few to spot the housing collapse, Burry was famously portrayed by actor Christian Bale ...
Michael Burry has spent decades intriguing investors with his contrarian views. Leading up to the Great Recession in 2008, Burry, who at the time ran his own hedge fund called Scion Capital, bet against mortgage bonds, which eventually collapsed, yielding hundreds of millions in profits for Scion. As one of the few to spot the housing collapse, Burry was famously portrayed by actor Christian Bale in the movie The Big Short . Many things have changed since then. Burry closed another fund he started, Scion Asset Management, and launched his own Substack publication, giving investors a glimpse into his once-guarded ideas and how he thinks about different investments. In one of his recent posts, Burry poured cold water on the idea of software-as-a-service (SaaS) armageddon as a consequence of the rise of artificial intelligence (AI). Here are three software stocks he's buying. Continue reading
Russia To Stop Kazakh Oil Flows To Germany Via Druzhba Pipeline After several weeks of the main oil artery into Europe being halted - perhaps as Ukraine awaited the outcome of the Hungary election and the greenlighting of Europe's €90 billion loan to Kiev - Zelenskyy stated the Druzhba oil pipeline will be ready to ship Russian oil again. There is just one problem: Russia said it would halt halt K...
Russia To Stop Kazakh Oil Flows To Germany Via Druzhba Pipeline After several weeks of the main oil artery into Europe being halted - perhaps as Ukraine awaited the outcome of the Hungary election and the greenlighting of Europe's €90 billion loan to Kiev - Zelenskyy stated the Druzhba oil pipeline will be ready to ship Russian oil again. There is just one problem: Russia said it would halt halt Kazakh crude-oil shipments to Germany through the major Druzhba pipeline next month after reporting "technical issues." The move would deal a major blow to the PCK Schwedt refinery which supplies most of the fuel to Berlin, as well as jet fuel and heating oil for the city and the surrounding area. The cutoff will increase concerns over fuel availability just as war in the Middle East squeezes global energy supplies. It also adds to Germany's fuel supply concerns as the Iran war disrupts flows from the Gulf. While Kazakhstan has received no official communication from Moscow, it got an informal notification, Energy Minister Yerlan Akkenzhenov said Wednesday. Russian Deputy Prime Minister Alexander Novak confirmed the planned suspension, citing “current technical abilities,” according to Interfax. Rosneft Deutschland confirmed it received information that flows will halt May 1, and said it’s assessing the potential impact on fuel supplies. "At the same time, existing options will be utilised to ensure security of supply in Germany," it said. It also said that the lack of supplies from Kazakhstan - which cover about 17% of Schwedt's needs - did not "ultimately jeopardise the security of supply of petroleum products in Germany." The Federal Network Agency, the country's energy regulator, which acts as trustee of Rosneft Germany's activities, said there might still be regional pricing effects, adding it was closely coordinating with the company. Kazakhstan's oil exports to Germany via Russia's Druzhba pipeline totalled 2.146 million metric tons, or around 43,000 barrels pe...
Investors are zeroing in on energy, and for good reason. Coming into this year, the surge in energy demand, particularly from data centers, shows no signs of slowing. Meanwhile, escalating geopolitical tensions remind us of the fragility of our global energy supply chains. The recent conflict in Iran has proven this, with disruptions in the Strait of Hormuz impacting up to 9.1 million barrels of o...
Investors are zeroing in on energy, and for good reason. Coming into this year, the surge in energy demand, particularly from data centers, shows no signs of slowing. Meanwhile, escalating geopolitical tensions remind us of the fragility of our global energy supply chains. The recent conflict in Iran has proven this, with disruptions in the Strait of Hormuz impacting up to 9.1 million barrels of oil per day, leading the International Energy Agency (IEA) to call it "the largest disruption in history." Energy prices continue to swing rapidly amid uncertainty over the conflict. However, recent market volatility is an opportunity for investors, and one uranium powerhouse I'd buy on any dip is Cameco (NYSE: CCJ) . The company has a strong presence in North America and should do well as the U.S. adds more nuclear reactors over the coming decades. Continue reading