Oil up despite another rig count increase (SPY +0.6%). Oil prices end 2020 on a positive note, but suffer 20% annual fall as pandemic took toll on demand.
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Merger Mania Is Transforming Canadas Oil Scene Canadas oil landscape looks encouraging for 2021 as Whitecap Resources Inc. acquires two oil and gas companies in addition to mergers between other energy companies, with anticipated growth through the coming year as demand for energy steadily increases. In November, Whitecap Resources announced a plan to acquire rival company TORC Oil & Gas through an all-stock transaction of $704.12m equivalent. The deal is expected to go through by 25 February 2021, providing an encouraging outlook for the first quarter of next year. This merger
Dow rises for the fourth time in five days, ekes out record closing high (SPY +0.1%). Dollar dumps, Bitcoin jumps, and pending home sales slide.
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Greek Shipowners Easily Evade Venezuela Oil Sanctions In January 2019, the Trump administration imposed sanctions on Venezuela s oil shipping sector in an ongoing bid to force President Nicols Maduro from power. The sanctions deepened Venezuela s already severe humanitarian crisis leading to runaway inflation and widespread fuel shortages. But the beleaguered nation can somewhat now breathe a sigh of relief after maritime intelligence firm Lloyd s List reported that an Aframax tanker has loaded a third crude cargo destined for China via a ship-to-ship transfer five months after being sanctioned
Movie releases next year could make for an embarrassment of riches, Imax CEO says In a way, 2021, if things do open early in the year, it s an embarrassment of riches There s an awful lot of content, and that s true on a global basis, Imax CEO Richard Gelfond said.
Surge in online shopping is straining America s busiest port, official says Shipments processed at the Port of Los Angeles were up 22% in November as American consumers bought more goods online, Executive Director Gene Seroka said.
Summary: California extends stay-at-home order as LA outbreak worsens Premier League mulls 2-week shutdown after worst rash of COVID outbreaks
The 10 biggest retail bankruptcies of 2020 This year, Neiman Marcus and J.C. Penney joined the ranks of some of the biggest retail bankruptcies on record, including Sears, Toys R Us and Circuit City.
NY healthcare provider may have fraudulently obtained vaccine doses A New York-based healthcare provider is under investigation for potential fraud, accused of illegally obtaining and distributing the vaccine, NBC New York reports.
Fauci warns of post-Christmas surge in Covid infections Fauci warns that coronavirus infections may get another boost as Americans flock together for Christmas and New Year s celebrations.
Op-ed: Equities likely to grow, but finding yield remains difficult
Stocks making the biggest moves midday: Apple, Alibaba, Nikola, Macy s (SPY +0.4%). Markets will be closed tomorrow Christmas Day.
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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