IIR's April 29 Market Scorecard Brings You Breaking Geopolitical News

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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
Hamas set to join Cairo ceasefire talks		Israeli continues attacks on Rafah and Gaza City. Egypt's foreign minister says he is "hopeful" about a new proposal for a Gaza ceasefire as a Hamas delegation is due in Cairo for talks. But the sticking points remain: Israelis want a truce while Hamas demands a cessation of all hostilities. Meanwhile, hardline Israeli ministers are warning Prime Minister Benjamin Netanyahu his government will collapse if a truce is agreed with Hamas in exchange for captives.	Aljazeera	LyondellBasell Looks to Develop Low-Carbon Business
Russia says it has captured another Donetsk village after Ukraine pulls back forces in the east		Russia's defense ministry claimed Monday that its forces had captured the village of Semenivka in the eastern Ukrainian region of Donetsk. The latest gain comes after the ministry announced the capture of the village of Novobakhmutivka, just north of Semenivka, on Sunday. The reported advances come after Ukrainian forces were pulled back from several villages in eastern Ukraine, including Semenivka, at the weekend.	CNBC	Miner BHP Makes Bid for Rival Anglo American in Mining Shakeup
Oil dips on Israel-Hamas peace talks, slim near-term US rate cut hopes		Oil prices dipped on Monday as Israel-Hamas ceasefire talks in Cairo tempered fears of a wider Middle East conflict, while U.S. inflation data dimmed the prospect of interest rate cuts soon. Investors are cautiously pricing a higher probability that the Fed could hike interest rates by a quarter percentage point this year and next as inflation and the labor market remain resilient.	Reuters	Valero Upbeat on Refining Margins, Mexico's Export Potential
IAEA Brings Nuclear Power to Fore at 26th World Energy Congress		Nuclear power was back in the global spotlight this week at the 26th World Energy Congress as an IAEA delegation led by Director General Rafael Mariano Grossi highlighted its key role on energy security and climate change. This year's edition of the four-day event, held in the Dutch city of Rotterdam under the slogan "Redesigning Energy for People and Planet", brought together 70 ministers from 150 countries as well as a broad spectrum of international energy stakeholders. Mr Grossi and the IAEA took part in several events showcasing the benefits of nuclear power, which in recent months has surged to the top of the global climate and energy agenda. This includes its historic inclusion in the first Global Stocktake under the Paris Agreement at COP28 in Dubai, the pledge towards tripling nuclear capacity by more than 20 countries, the landmark Nuclear Energy Summit last month and the IAEA's first-of-a-kind collaboration with the Group of 20 this year under the Presidency of Brazil.	Oil Price	Africa Poised to Become Critical Minerals Powerhouse
Natural Gas News: Freeport LNG Resumption Brightens Outlook		U.S. natural gas futures edged higher early Monday on the New York Mercantile Exchange, attempting to stabilize after last week's sharp decline, which saw prices plummet to their lowest since late March. This modest rebound came as the market grappled with softer production levels and the prospect of stronger export demand. The short-term outlook for the U.S. natural gas market continues to be bearish, driven by an excess in both storage and production. While the resumption of operations at Freeport LNG may offer some relief, the prevailing conditions of abundant supply and controlled demand suggest that prices will likely remain subdued.	FX Empire	EPA Issues Rules That Could Reshape Electric Generation
The Future of Plastics Will Determine the Future of Oil Demand		The UN is this week discussing the future of plastic-or so it would seem on the surface. The UN Global Plastics Treaty negotiations aim to curb plastic pollution by essentially curbing the use of plastics globally. And they look set to fail. The European Union just this week approved new rules on packaging aimed at reducing waste. One of these rules was, in fact, a ban on single-use plastic packaging for fresh fruit and vegetables from 2030. "The issue is pollution. The issue is not plastic." This is according to Exxon's head of product solutions, Karen McKee, who recently told the FT that "A limit on plastic production will not serve us in terms of pollution and the environment."	OilPrice	Aramco to Acquire Major Stake in China's Petrochemical Giant Hengli
Week 04/22/24 - 04/29/24		There are advances unfolding both for the possibility of a Middle East cease fire with ongoing peace talks in Cairo where Hamas will be present as well as Russia's military advancing west out of the Donetsk region capturing yet another village. Not to mention there could be advances on a UN Global Plastics Treaty this week, while at the World Energy Congress the IAEA is further advancing nuclear to power energy security while also addressing climate change. For the moment Mr. Oil Market is singing the blues as the Fed is more likely to raise rates than lower them this year in the world's leading economy, which will in turn affect other financial markets and other Central Bank decisions.
*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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