by Bloomberg
|Friday, May 14, 2021
Oil in New York surged the most in a month on Friday.
(Bloomberg) Oil in New York surged the most in a month on Friday as prices garnered support from a recovery in equities and a softer dollar.
West Texas Intermediate climbed back above $65 a barrel, eking out a third straight weekly gain as a weakening dollar boosted appeal for commodities priced in the currency. Concerns persist over the spread of Covid-19 in Asia, which has tempered further gains.
Progress on reopening economies in countries including the U.S. supports expectations for heavy summer travel, buttressing the market’s underlying structure from recent weakness. The premium of Brent’s nearest contract against the next month strengthened on Friday to its widest in over a week. Growth in that structure, which is called backwardation, suggests the market is expecting tighter supplies.
Study Suggests Fast-Charging Stations for Electric Vehicles Should be Expanded
Written by AZoCleantechMay 7 2021
A group of engineers proposed an increase in the number of fast-charging stations for electric vehicles as businesses and campuses begin their plans for a post-pandemic world.
The University of California San Diego is home to one of the largest, most diverse range of electric vehicle charging stations at any university in the world. Image Credit: University of California San Diego.
The suggestion depends on a study of charging patterns for electric vehicles on the University of California San Diego campus between early January and late May of 2020 after the university decided to shift a majority of its operations online. According to the engineers, the findings could be employed in a wider range of settings.
Strategic Energy Resources (ASX:SER) to buy QLD project from Newcrest Mining (ASX:NCM)
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Strategic Energy Resources (SER) has signed an agreement with Newcrest Mining (NCM) to acquire the Isa North Copper-Gold Project in Queensland
The project comprises three exploration licences and is highly prospective for iron oxide copper-gold (IOGC) mineralisation
Strategic Energy will purchase 100 per cent of the project, and Newcrest will retain a first right of refusal to any future transaction and a one per cent net smelter royalty for up to 10 years of production
Once the project is officially transferred, the company will begin land access negotiations while it refines drill targets
Oil reaches seven-week high with demand revival gaining traction
Andres Guerra Luz and Alex Longley, Bloomberg News
OPEC is keeping this market in a deficit which supports a higher price: TD s Bart Melek VIDEO SIGN OUT
Oil climbed to the highest since the middle of March as reopening efforts and vaccination pushes from the U.S. to Europe underpin hopes for a return to normal demand in the worldâs largest economies.
Futures in New York gained 1.9 per cent on Tuesday, the biggest daily jump in nearly three weeks, while gasoline futures settled at the highest since July 2018. The U.S. is setting a new target of 70 per cent of U.S. adults receiving at least one COVID-19 vaccine shot by July 4, while British Prime Minister Boris Johnson said his countryâs lockdown rules are set to be scrapped in seven weeks. Thatâs offsetting concerns about weaker oil consumption in parts of Asia, including key importer India, where COVID-19 remains rampant.
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