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Stocks making the biggest moves midday: Apple, Alibaba, Nikola, Macy s (SPY +0.4%). Markets will be closed tomorrow Christmas Day.
The Market in Perspective
Here are the headlines moving the markets.
The Countries Set To Win Big On The Lithium Boom Last week I read a press release that piqued my interest. Vancouver-based Lithium Americas Corp. announced that they had received an environmental impact statement (EIS) from the U.S. government for a proposed lithium mining project in Nevada. The EIS is required for certain projects that have the potential to significantly impact the environment. It is an important milestone in getting major projects executed. Lithium Americas said they expect final permitting to be approved in early 2021. Lithium Americas uses an acid leaching process to extract
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The beginning of production at what is now Asia’s deepest offshore natural gas field will increase the share of natural gas India’s energy basket.
India set to strengthen natural gas production
A few days ago,
Reliance Industries Limited (RIL) and
BP announced the start of production from the R Cluster, ultra-deepwater gas field in block KG D6 off the east coast of India. RIL and BP are developing three deepwater gas projects in block KG D6: R Cluster, Satellites Cluster and MJ –
Together, RIL said it expects the projects to meet over 15% of India’s natural gas demand by 2023.
The natural gas storage report from the EIA for the week ending December 11th indicated that the quantity of natural gas held in underground storage in the US had decreased by 122 billion cubic feet to 3,726 billion cubic feet by the end of the week, which left our gas supplies 284 billion cubic feet, or still 8.3% higher than the 3,442 billion cubic feet that were in storage on December 11th of last year, and 243 billion cubic feet, or 7.0% above the five-year average of 3,483 billion cubic feet of natural gas that have been in storage as of the 11th of December in recent years..the 122 billion cubic feet that were drawn out of US natural gas storage this week was less than the average forecast from an S&P Global Platts survey of analysts who had expected a 127 billion cubic foot withdrawal, but was higher than the average withdrawal of 105 billion cubic feet of natural gas that have typically been pulled out of natural gas storage during the same week over the past 5 years, and the