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"Clean energy" might get all the attention. But this year, investors in S&P 500 energy stocks are getting filthy rich — to the tune of $329 billion.

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17 May, 2021 / 17:33

(Bloomberg) -- Oil advanced as rising optimism around a demand recovery in regions such as the U.S. offset Covid-19 flare-ups in parts of Asia.Futures in New York climbed as much as 1.4% on Monday. The U.S. and China, along with parts of Europe, are rapidly recovering from the pandemic as vaccinations accelerate. In the U.S., passengers at airports jumped to the highest since the pandemic began. However, Indian fuel demand continued to weaken in the first half of May.The oil market’s structure is showing signs of strength. The premium for global benchmark Brent’s nearest contract over the next one has started widening again, signaling a tightening market.“More reopenings in Europe, consumer confidence and travel normalizing” are all boosting confidence in a demand rebound, said Phil Streible, chief market strategist at Blue Line Futures LLC in Chicago. In the U.S., “more and more people are getting vaccinated and those people are now traveling.”Crude is up over 4% so far this month, though a further price breakout is being held back by a tepid recovery in Asia, where the coronavirus is crippling key importer India, and Singapore and Taiwan grapple with new outbreaks. Another wildcard is the prospect of more crude flows from Iran as the nation seeks to revive a nuclear deal and free itself of U.S. sanctions. Talks are ongoing, however, and progress on a solution remains uncertain.Meanwhile, the steady recovery in U.S. air travel continues. On Sunday, the number of people passing through Transportation Security Administration checkpoints at airports surged to 1.85 million, the highest since March 2020. United Airlines Holdings Inc. said it plans to operate 80% of its pre-pandemic U.S. schedule.There were some additional reasons for physical markets to be tentatively optimistic. Last week, India’s biggest refiner was looking to buy crude for the first time in a month. Meanwhile, a unit of a giant Chinese refiner issued a purchase tender on Monday.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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17 May, 2021 / 16:36

Marathon Petroleum (MPC) will use $2.5 billion of the Speedway sales proceeds to repay its long-term structural debt.

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17 May, 2021 / 16:25

OPEC’s oil exports have jumped by 1 million barrels per day (bpd) so far in May, while the OPEC+ group started easing the production cuts by 350,000 bpd this month

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17 May, 2021 / 16:00

Digihost Technology has reported that over 90% of the energy consumed by its bitcoin (BTC) mining operations is from sources with zero carbon emissions.

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17 May, 2021 / 15:50

Exxon Mobil Corporation (NYSE: XOM),Procter & Gamble Company (NYSE: PG)andCoca-Cola Company (NYSE: KO) may be ...

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17 May, 2021 / 15:44

Oil prices have already risen more than 30% this year, and are sitting just below $70 a barrel, so the next leg higher may not be as lucrative to investors. Brent crude futures, the international benchmark, were up 0.4%, to $69.01 a barrel, on Monday. Mizuho analyst Daniel Boyd thinks that oil prices will keep rising.

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17 May, 2021 / 15:37

Oil futures move up on Monday, finding support as signs of a demand recovery in the U.S. and Europe feed optimism over the outlook for energy demand, despite a round of weaker-than-expected economic data from China.

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17 May, 2021 / 14:57

InvestorPlace - Stock Market News, Stock Advice & Trading Tips While growth stocks provided profitability over the trailing year, the latest rumblings suggest you should rotate into consumer staples. The post 7 Consumer Staples Stocks to Help Navigate the Uncertainty appeared first on InvestorPlace. More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS Now It doesn’t matter if you have $500 in savings or $5 million. Do this now. Top Stock Picker Reveals His Next Potential 500% Winner

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17 May, 2021 / 14:37

(Bloomberg) -- The broad rally in raw materials that’s lifted prices for crops, energy and metals is a bonanza for Canada’s economy and a major challenge for the nation’s policy makers, who are under pressure to ensure that everybody benefits.Should the commodities boom hold, it would represent a windfall for the resource-rich nation endowed with oil, natural gas and vast lands to mine and farm. Export receipts are already at near a record and poised to go higher. The value of lumber shipments alone nearly doubled in the first quarter.But Canada’s economy is already brimming with stimulus and may hit full capacity as early as this year, according to some economists. Elevated commodity prices are driving up the currency and longer-term rates, potentially crowding out other key sectors that may struggle to compete under a stronger Canadian dollar. The loonie is the best-performing major currency this year and is near a six-year high. Five-year bond yields are the highest in the Group of 10.That means policy makers could face pressure to slow development, curb capital inflows and stem foreign exchange gains, as is usually the case in Canada when commodities boom.While this sort of pressure has been brushed off in the past, it will be more difficult to ignore today amid what appears to be a shift in macroeconomic policy.In their pandemic-recovery plans, global policy makers are emphasizing not only growth and income but also how the fruits of the recovery are distributed and whether some people are being left behind. Bank of Canada Governor Tiff Macklem frequently uses the terms “complete recovery” and “shared recovery.” In practice, that means trying to run the economy as hot as possible without fueling inflation too much.The issue becomes more acute if a commodity boom heats up the economy but exacerbates disparities. A jump in resource prices in Canada creates sharp regional differences in who benefits and who loses.For example, soaring prices for lumber, grain and oil are great for western Canada, the country’s breadbasket and the source of more than 90% of its crude production. The higher costs, rates and currency that come with it are harder on the manufacturing sector, based in Ontario, and on cities.One out of every two jobs still not replaced from the pandemic are in Toronto, Montreal or Vancouver. Low-wage workers, women and youth have been hit hardest. Yet, these regions and groups probably won’t benefit directly from any strong resource-driven recovery.For Prime Minister Justin Trudeau’s government, the challenge is profound.Resource production is energy-intensive, which may hinder the government’s ability to meet its ambitious climate change targets by 2030. There are political considerations for Trudeau, who has thin support in the rural and western parts of Canada where resources drive the economy. The recent emphasis on securing manufacturing supply chains and promoting domestic industry will only heighten sensitivity to the long-term costs of losing industrial capacity because of a higher currency.But Canada’s economic history shows it’s difficult to say no to commodity riches. Higher government revenue would help offset record budget deficits, and policy makers are desperate for underlying growth drivers beyond more government stimulus.A rally in oil prices helped Canada emerge from the global financial crisis more than a decade ago, according to Lisa Raitt, Canada’s natural resource minister at the time. Raitt expects policy policy makers to try to ensure that the economic effects of resource extraction will be more broad-based.“There is a much more smarter approach that governments are going to be taking from a policy point of view, ensuring that the manufacturing part goes with the mining part,” Raitt said in a phone interview.Canada has reserves of lithium and other metals needed in batteries for electric vehicles, for example, and Trudeau’s government and its provincial counterpart in Ontario have offered large subsidies to automakers including Ford Motor Co. to bring EV production to their Canadian plants.Of course, the commodity boom could prove to be short-lived. Up to now, the issue has been under the federal government’s radar. In her first budget speech last month, Finance Minister Chrystia Freeland made little mention of the sector despite the rally in resource prices -- an indication that perhaps they don’t see it as a lasting trend. That’s consistent with expectations of many economic policy makers across the world -- including at the Bank of Canada -- who see an inflation spike and any prolonged surge in demand for commodities as largely temporary.“I don’t think of it as a true commodity supercycle,” Stephen Poloz, Macklem’s predecessor as Bank of Canada governor, said in an interview, referring to economic cycles in which prices remain well above long-term trends for years. “I’m not predicting the roaring ’20s here -- rather a good, solid resumption, and if it’s well managed it will be long lasting.”But even if there’s no supercycle, the run-up will produce ongoing windfalls for the Canadian economy as long as prices don’t decline. As a share of total exports, shipments of basic materials and commodities are at the highest levels since 2014, before the collapse of global oil prices.“That can only be a good thing for Canada,” Poloz said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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17 May, 2021 / 14:19

Fuel demand in India continues to slump this month amid the COVID crisis in the world’s third-largest oil importer, with gasoline sales down to a one-year low and diesel consumption dropping to the lowest in seven months in the first two weeks of May

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17 May, 2021 / 14:00

In this article, we will take a look at the 10 best dividend stocks on Robinhood. You can skip our comprehensive analysis of these stocks’ outlook in 2021 and go directly to the 5 Best Dividend Stocks on Robinhood. The coronavirus outbreak led to unprecedented economic events that resulted in a spike in unemployment rates all […]

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17 May, 2021 / 13:59

When weighing oil stocks to buy, consider which ones are diversified and which are focused more on shale or particular regions.

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17 May, 2021 / 13:36

The direction of the July WTI crude oil market on Monday is likely to be determined by trader reaction to the minor Fibonacci level at $65.31.

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17 May, 2021 / 12:00

"Clean energy" might get all the attention. But this year, investors in S&P 500 energy stocks are getting filthy rich — to the tune of $329 billion.

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17 May, 2021 / 12:00

By Geoffrey Smith

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17 May, 2021 / 11:40

Considering natural gas' vulnerability to short-term weather models, investors are advised to hold onto stocks like Comstock Resources (CRK), Antero Resources (AR) and Southwestern Energy Company (SWN).

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17 May, 2021 / 10:56

Oil major BP has lobbied for the EU to support natural gas, a move that exposes divergent views among investors and reflects a wider European dispute about the role of the fossil fuel in the transition to a lower-carbon world. The European Commission - aiming to reach net-zero greenhouse gas emissions by 2050 - had planned to omit gas-fuelled power plants from a new list of investments that can be marketed as sustainable, but delayed the decision last month following complaints from some countries and companies. Britain's BP was among those lobbying against the plan.

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17 May, 2021 / 04:02

Oil major BP has lobbied for the EU to support natural gas, a move that exposes divergent views among investors and reflects a wider European dispute about the role of the fossil fuel in the transition to a lower-carbon world. The European Commission - aiming to reach net-zero greenhouse gas emissions by 2050 - had planned to omit gas-fuelled power plants from a new list of investments that can be marketed as sustainable, but delayed the decision last month following complaints from some countries and companies. Britain's BP was among those lobbying against the plan.

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17 May, 2021 / 04:00