US oil futures give up some gains after API build

The Telegraph
How Putin handed America the keys to the world’s energy market
It did not take long for Vladimir Putin’s invasion of Ukraine to reshape the world’s energy markets, as countries long reliant on Russian gas sought to sever ties as soon as possible.
Reuters
Potential China action against EU pork may be double-edged sword for Brazil
China's potential imposition of anti-dumping measures on European Union pork imports, a disastrous scenario for the bloc, could benefit Brazil's exporters but also affect the country's ability to compete elsewhere, analysts and industry sources said. Chinese companies have asked for an anti-dumping probe into pork imports from the European Union, state-backed Chinese media have reported. The potential for additional demand from China as a consequence of any anti-dumping measures is welcome for Brazilian exporters.
Reuters
Exclusive-Firm making car that Putin gifted to Kim uses South Korean parts, data shows
Laughing and joking, Russian President Vladimir Putin and North Korean leader Kim Jong-un cruised around Pyongyang last week in a Russian-made Aurus limousine to showcase their strengthened anti-Western alliance. The luxury sedan was intended to epitomize Russia's domestic prowess and reduced dependence on imported technology and goods when unveiled in 2018. But customs records show that the company that builds it uses millions of dollars in imported parts, many arriving in Russia from what Kim has described as his country's "primary foe", South Korea.
MediaOutReach
Tencent Consolidates Singapore Office By Moving To TWP’s CapitaSky Coworking Space
SINGAPORE - Media OutReach Newswire - 27 June 2024 - Chinese tech giant Tencent has consolidated its Singapore office, relocating from 30 Raffles Place to a new flexible working space managed by The Work Project (TWP) at CapitaSky — a 29-storey tower in the Central Business District (CBD). Tencent Consolidates Singapore Office By Moving To TWP’s CapitaSky Coworking Space New Singapore Office Consolidates Tencent Workforce in Prime CBD Location The move, completed in the first week of June 2024 f
AFP News
Western tariffs a 'challenge' for China's battery giant CATL
An executive from China's battery giant CATL said on Thursday that Western tariffs tied to electric vehicles present a "challenge" for the firm, and are bad for customers too.Many of the vehicles affected by tariffs are fitted with batteries from CATL, which is aiming to ramp up its operations in Europe next year.
The Edge Singapore
Prudential Singapore to get new CEO in September
Chan San San is appointed CEO of Prudential SIngapore, reporting to Dennis Tan, MD of Strategic Business Group, a regional role
Reuters
Elon Musk won $56 billion payday because of vote, Tesla argues in court
Tesla is claiming Elon Musk won his legal battle over his $56 billion pay package because shareholders voted for the compensation, despite a judge rescinding it earlier this year, according to a court filing made public on Thursday. The company's filing comes two weeks after Tesla shareholders voted to ratify the 2018 package of stock options. Tesla held the vote following a January ruling by a Delaware judge to void the compensation because Musk improperly controlled the negotiation process and the company misled shareholders about key details.
CoinDesk
Bitcoin Miner Marathon Mined $15M Worth Kaspa Tokens to Diversify Revenue
The miner has mined 93 million worth of KAS tokens since Sept. 2023.
Euronews
Renewables surge: Green energy made up the majority of the EU’s electricity in 2023
Wind and solar power increases combined with a sharp drop in fossil fuels pushed renewables into the lead.
Reuters
Apple's iPhone shipments in China surge 40% in May amid aggressive discounting
BEIJING (Reuters) -Apple's smartphone shipments in China rose nearly 40% in May from a year earlier, extending a rebound seen in April, data from a research firm affiliated with the Chinese government showed on Friday. Shipments of foreign-branded phones in China increased by 1.425 million in May to 5.028 million units from 3.603 million a year earlier，calculations based on the data from the China Academy of Information and Communications Technology (CAICT) showed. Although the data did not explicitly mention Apple, the company is the dominant foreign phone maker in China's smartphone-dominated market.
The Telegraph
The North Sea could be finished under Labour
David Latin is losing his patience. The chairman of Serica Energy has worked in the oil and gas industry for more than 30 years. He once ran a company that drilled in a war zone.
Reuters
Zeekr's sales jump as Chinese dominate Russian EV market
Sales of Zeekr electric vehicles have shot up in Russia in the last year, putting Chinese carmakers ahead of local competition in Russia's small but rapidly expanding electric vehicle (EV) sector. Chinese carmakers have already seized more than half of Russia's car market since Western competitors pulled out, taking their technology and know-how with them, after Moscow sent troops into Ukraine in February 2022. Governments in Europe and the United States are growing increasingly wary of Chinese dominance in the EV sector but Russia, rather than imposing tariffs, is embracing Chinese brands across all automobile sectors to prop up its car industry.
Reuters
Toyota to launch first EV with advanced self driving system for China in 2025
Toyota is planning to launch the first electric car model equipped with an advanced autonomous driving system similar to Tesla's Full Self-Driving for the Chinese market next year, one of its Chinese joint ventures said. The JV with state-owned Guangzhou Automobile Group (GAC) aims to restore the Japanese automaker's market share in China by catching up with Chinese rivals on technologies in hybrids, batteries and intelligent vehicles. GAC Toyota said it would launch Bozhi 3X SUV next year as the first model to be equipped with the system that would enable advanced driving assistance for parking and navigation on highways and urban traffics.
SmartAsset
Here's the Net Worth of Married Couples by Age: How Do You Stack Up?
A recent study from the career experts Zety says that 40% of respondents fear retirement more than death. And almost nine in 10 responded that their biggest retirement fear is not having enough income. For married couples, planning retirement for two people can … Continue reading → The post Average Retirement Savings for Married Couples By Age appeared first on SmartAsset Blog.
Investing.com
Oil prices settle higher, but gains capped by surprise inventory build, dollar
Investing.com-- Oil prices settled slightly higher Wednesday, though gains were capped by unexpected build in U.S. inventories and a stronger dollar.
Reuters
Factbox-Companies forging a rare earths industry in the EU
In the rare earths sector, the EU will struggle to meet most of its ambitious goals in new legislation designed to boost domestic output of critical minerals and reduce dependence on China. Below are some key companies working on rare earths, with production figures in metric tons per year. Neodymium and praseodymium (referred to in the industry by their joint elemental abbreviation, NdPr) are key rare earths needed to make permanent magnets.
Reuters
Oil settles $1 up, war risk premium outweighs ample US stocks
HOUSTON (Reuters) -Oil futures settled higher on Thursday on worries about global crude supply disruptions as geopolitical pressure in the Middle East and Europe mounted, while a surprise increase in U.S. crude and gasoline inventories gave prices a ceiling. Brent crude oil futures settled up $1.14, or 1.34%, to $86.39 a barrel. Cross-border strains between Israel and Lebanon's Hezbollah have been escalating, fanning fears that a widening war could draw in other countries including major oil producer Iran.
Reuters
Oil prices to stay steady as China demand woes offset Mideast risks
(Reuters) -Oil prices will not change much in the second half of 2024 as concerns around demand from China and prospects of higher supply from key producers counter risks from geopolitical tensions, a Reuters poll indicated on Friday. A poll of 44 analysts and economists surveyed by Reuters in the last two weeks forecast the global benchmark, Brent crude , would average $83.93 per barrel in 2024, just shy of the $84.01 consensus in the previous month's poll. Brent crude futures have averaged $83.4 thus far in 2024, after brief spikes to as high as $92.18, driven by supply risks due to the conflict in the Middle East.
Reuters
Aircraft delivery delays having 'brutal' impact on Lufthansa, says CEO
Speaking at the business press club in Stuttgart late Thursday, Spohr said the aircraft shortage could be costing Lufthansa some 500 million euros ($535.00 million) a year, although he did not provide an exact figure. Lufthansa has ordered 250 new aircraft from Airbus and Boeing to modernize its fleet, with deliveries scheduled between 2024 and 2029. However, "no plane arrives on time," said Spohr, adding that around 100 of Lufthansa's 750 aircraft were grounded either for maintenance reasons or because they had been decommissioned.
Reuters
Biden awards up to $75 million in CHIPS Act grant to Entegris
"We’re not just bringing leading-edge chip technology and (factories) to the United States, we’re also bolstering the suppliers that make leading-edge manufacturing possible,” U.S. Secretary of Commerce Gina Raimondo said in a statement. Congress in 2022 approved the Chips and Science Act to boost domestic semiconductor output with $52.7 billion in research and manufacturing subsidies. According to the Commerce Department, the project's first phase would support the production of liquid filter membranes and Front Opening Unified Pods (FOUPS), specialized containers invented by Entegris to secure semiconductor wafers when transported during the manufacturing process.

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US oil futures give up some gains after API build

Latest stories

How Putin handed America the keys to the world’s energy market

Potential China action against EU pork may be double-edged sword for Brazil

Exclusive-Firm making car that Putin gifted to Kim uses South Korean parts, data shows

Tencent Consolidates Singapore Office By Moving To TWP’s CapitaSky Coworking Space

Western tariffs a 'challenge' for China's battery giant CATL

Prudential Singapore to get new CEO in September

Elon Musk won $56 billion payday because of vote, Tesla argues in court

Bitcoin Miner Marathon Mined $15M Worth Kaspa Tokens to Diversify Revenue

Renewables surge: Green energy made up the majority of the EU’s electricity in 2023

Apple's iPhone shipments in China surge 40% in May amid aggressive discounting

The North Sea could be finished under Labour

Zeekr's sales jump as Chinese dominate Russian EV market

Toyota to launch first EV with advanced self driving system for China in 2025

Here's the Net Worth of Married Couples by Age: How Do You Stack Up?

Oil prices settle higher, but gains capped by surprise inventory build, dollar

Factbox-Companies forging a rare earths industry in the EU

Oil settles $1 up, war risk premium outweighs ample US stocks

Oil prices to stay steady as China demand woes offset Mideast risks

Aircraft delivery delays having 'brutal' impact on Lufthansa, says CEO

Biden awards up to $75 million in CHIPS Act grant to Entegris