IIR's June 17 Market Scorecard Brings You Breaking Geopolitical News

Researched by Industrial Info Resources (Sugar Land, Texas)--Stay current with the latest geopolitical events, and more importantly, instantly connect to how these events may impact you and your business strategies.

Event	MarCon*	IIR Comment	Outlet	IIR News
Israel announces military pause on Gaza road to let in aid		The Israeli military says it will hold a daily "tactical pause of military activity" along a road in southern Gaza to enable more humanitarian aid to enter, but emphasised that there is no ceasefire and combat would continue in Rafah. They will only affect a route that leads northwards from the key Kerem Shalom crossing, which Gaza shares with Israel. Israel has been under continuous pressure from its allies, including the US, to prevent the humanitarian crisis in Gaza from worsening.	BBC	Intel Presses "Pause" on $25 Billion Chip Plant in Israel
Saudi Arabia, India and South Africa among countries opting out of Ukraine declaration - as it happened		Saudi Arabia, India, South Africa, Thailand, Indonesia, Mexico and the United Arab Emirates were among countries participating at a summit on peace for Ukraine that did not sign a final communique, the Swiss government has said, Reuters reports. Brazil, which attended the summit as an "observer" country, did not sign on, but Turkey - which has sought a role as intermediary between Russia and Ukraine - did. US national security adviser Jake Sullivan on Sunday dismissed a peace proposal presented by Russia's president Vladimir Putin as unreasonable, saying meeting Moscow's demands would make Kyiv even more vulnerable to further aggression.	The Guardian	Mountain Valley Pipeline, Phillips 66: Your Daily Energy News
Oil steady as downbeat Chinese data offset demand hopes		Oil was steady on Monday after Chinese economic data underscoring a bumpy recovery for the world's biggest crude importer offset hopes for a boost to demand from the summer driving season in the northern hemisphere. Apart from retail sales that beat forecasts due to a holiday boost, the flurry of Chinese data on Monday was largely downbeat. The data followed a survey on Friday showing U.S. consumer sentiment fell to a seven-month low in June.	Reuters	Republicans Slam Final Rule Setting Higher Vehicle Fuel Efficiency Standards
Dollar firm as euro wallows; yuan brushes aside China data		The dollar was firm on Monday as the euro hovered near a more than one-month low amid continued concerns about the political outlook in Europe. Investors have been contemplating the risk of a budget crisis at the heart of the euro area, as far right and leftist parties gain momentum ahead of France's surprise parliamentary election, pressuring President Emmanuel Macron's centrist administration. The yuan held close to a multi-month low after China released a slew of economic data that pointed to an uneven recovery in the world's second-largest economy.	CNBC	Business as Usual: With Modi's Coalition Settled, IIR Sees Market Stability
Natural Gas News: Can Heatwave Overcome Rising Production?		Bulls Battling for Cash While Bears Eye Bearish Future U.S. natural gas futures experienced a volatile week, ultimately succumbing to bearish pressure. Prices initially climbed above $3/MMBtu on anticipation of scorching summer heat, but quickly retreated on whispers of increased production and a slightly less brutal heatwave forecast. Last Week's Recap: A Tale of Two Markets While futures tumbled, cash markets boomed. This divergence highlights the conflicting forces at play. In the futures market, "bears" gained control as rising production and a tempered heat outlook signaled ample supply.	FX Empire	UAE Plans MENA's First LNG Facility
Investment in clean energy this year is set to be twice the amount going to fossil fuels		Global spending on clean energy technologies and infrastructure on track to hit $2 trillion in 2024 even as higher financing costs hinder new projects, notably in emerging and developing economies Despite pressures on financing, global investment in clean energy is set to reach almost double the amount going to fossil fuels in 2024, helped by improving supply chains and lower costs for clean technologies, according to a new IEA report.	IEA	SLB: CCS Is Necessary for Net Zero
Visualizing the Global Footprint of Tesla and BYD's EV Factories		In 2023, Tesla and BYD were the world's two largest electric vehicle (EV) companies by a large margin, holding 19.9% and 17.1% market shares respectively. To gain insight into this rivalry, Visual Capitalist's Marcus Lu visualized the locations of both companies' present and future EV factories, along with their estimated maximum annual output. Figures come from a variety of sources, and represent the latest information pertaining to planned production facilities (as of April 2024). Although EV demand is not growing as quickly as it was in previous years, BYD is putting the pedal to the floor when it comes to global expansion. The company has announced factories in various regions including Europe, Southeast Asia, and Latin America, all to be completed within this decade.	OilPrice	Europe Proposes Import Tax on Chinese EVs
Week 06/10/24 - 06/17/24		Is there the glimmer of peace on the horizon in the Middle East and Eastern Europe? Highly unlikely but global diplomatic steps are being taken and enacted and pressure is being applied as Summits are held. There are woes in the global economic markets which will affect hydrocarbon demand going forward as more downbeat data comes out of China, EuroZone is still reeling from its recent Parliamentary elections, and the U.S. consumer is less optimistic. For the moment, Mr. Oil Market is likely to trade sideways as pundits sort through the data while awaiting a possible catalyst to bring the Bulls back into the spotlight.
*MarCon (Market Condition 1-5, with 5 being the highest impact) indicates directional bias or price effect for the relevant commodity (Oil, Natural Gas, Chemicals, etc.) and is graded by our team of experts here at IIR.

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