IIR's August 19 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
Gaza attacks expanded as Blinken warns of 'last chance' to reach ceasefire		U.S. Secretary of State Antony Blinken, during his ninth visit to Tel Aviv since October 7, says this was a "decisive moment" for Israel to strike a ceasefire deal with Hamas and bring the captives home. Blinken's visit comes as Israel continues to insist on remaining in the Philadelphi Corridor - the entire border area between Gaza and Egypt - a point of contention in the ongoing ceasefire negotiations.	Aljazeera	U.S. Rig Count, Scrapped Pipeline Safety Standards: Your Daily Energy News
Second Russian bridge 'destroyed' in strike - as Kyiv repels air attack		Russia says Ukraine has attacked a third bridge in the Kursk region - as an ex-UK foreign secretary says Kyiv has put Vladimir Putin "into a position he never dreamt in his worst nightmares". "Putin has always prided himself that the thing he does is provide security to Russia. Well this war has been a disaster for him, the change to NATO has been Sweden and Finland joining, which they had never done for almost 70 years, and now he finds parts of Russia occupied by the Ukrainians."	Sky News	Fossil-Fueled Pollution and the Birth of Solar and Wind Power
Oil slips with Brent staying below $80 on China demand concerns		Oil eased on Monday, with global benchmark Brent holding below $80 a barrel, as concern over demand in top oil importer China weighed on market sentiment, offsetting risks to supply in the Middle East. On Thursday, data from China showed its economy lost momentum in July, with new home prices falling at the fastest pace in nine years. Chinese refineries sharply cut crude processing rates last month on tepid fuel demand. "The market is naturally concerned for Chinese oil demand," SEB analyst Bjarne Schieldrop said. "Net Chinese imports of crude and products have been a big disappointment this year."	Reuters	AAA: Gas Prices Held Steady Over the Summer
Eyes on Jackson Hole as dollar drops against yen, euro keeps rising European markets higher Asia-Pacific markets are mixed. Gold pauses after hitting all-time highs above $2,500		The yen rose sharply on Monday and the euro touched its highest this year as the dollar retreated broadly with traders bracing for dovish signals from Federal Reserve meeting minutes and Chair Jerome Powell's speech at Jackson Hole. European stocks extended positive momentum at the start of the new trading week, after global markets rallied last week. Asia-Pacific markets were mixed on Monday after a week that saw a broad rally in stocks, as investors awaited a slew of central bank releases and inflation data this week. Gold eased on Monday after powering to an all-time high above the important $2,500-per-ounce level in the last session on strong safe-haven demand and expectations of an imminent U.S. rate cut as investors seek more cues on the quantum of cuts.	CNBC	ExxonMobil's Quarterly Earnings Soar, Eclipsing Results from Peers
Natural Gas News: Bulls Defend $2.091 Support, Awaiting Bullish Weather Boost		U.S. natural gas futures are gaining ground as the market begins a new trading week. Prices are moving up after testing the minor pivot at $2.091, with bullish traders targeting the main top at $2.315. The previous week saw price swings due to changing weather forecasts and market sentiment. NatGasWeather reports "very warm to hot high pressure will rule much of the western, central and southern U.S." this week. The natural gas market shows a cautiously positive short-term outlook. The confirmation of a bullish reversal pattern and tightening supply suggests potential price increases. However, variable weather may restrict demand growth.	FX Empire	EIA Reports Summer Natural Gas Storage Drawdown
Why there's no quick fix in the South China Sea disputes, and war 'cannot be ruled out'		There's no standards for right and wrong when it comes to the South China Sea any more. Now, whatever China does is wrong. And whatever violates China's rights and interests is right. The "discourse power" is not on China's side. If you look at maps from the Ming dynasty (1368-1644) - from the government of the Republic of China and even from the U.S. - you can see "China" written in pinyin in parentheses behind the Xisha Islands. The South China Sea has become an important factor for the U.S. to sustain its hegemony in the western Pacific and maintain its maritime primacy. As China expands its maritime power, the U.S. tends to believe that China wants to drive it out of the South China Sea. But China doesn't want to do that.	South China Morning Post	Regional Biofuel Production Expands in Southeast Asia
The U.S. Is Quietly Building Several Renewable Energy Megaprojects		Both federal and private renewable energy developers appear equally unfazed by the industry wide challenges, with the development of dozens of massive clean energy projects currently underway in various parts of the United States. Here are three of the biggest and most impressive. SunZia Wind Project, the largest renewable energy project in the U.S., is underway with an $11 billion investment. Champlain Hudson Power Express, a 1,250-MW hydroelectric megaproject, will deliver clean energy from Canada to New York City. Gemini Solar Project, a 690-MW solar farm with a 1,400-MWh battery storage system, is under construction in Nevada.	OilPrice	Ameresco Readies for Bigger Role in U.S. RNG, Biofuels Markets
Week 08/19/24 - 08/26/24		Many eyes & ears turn to Jackson Hole and the pending Fed announcement(s); while others keep watch for developments in the Middle East. Will there be progress on a cease fire deal? Highly unlikely. And, eyes remain on what is unfolding in Eastern Europe with Ukraine's bold invasion into Russia. What is going to be Mother Russia's response? Not to mention a few eyes are peering into the South China Sea to ascertain whether any tensions are boiling over. Is China going to be the aggressor before year's end? Although, mainly this week is about Central Bank announcements and what can likely be expected for the U.S. and Global Economy moving forward - as energy commodity markets have been pressured to the downside with continued poor economic data coming out of China.
*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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