IIR's June 24 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
'Intense phase of war with Hamas about to end,' focus to shift to Lebanon border, Netanyahu says		Israeli Prime Minister Benjamin Netanyahu said Sunday that the "intense phase of the war with Hamas (in Gaza) is about to end," and that the military's focus could then shift to Israel's northern border with Lebanon, where fighting with the Iran-backed group Hezbollah has intensified in recent weeks. Netanyahu, however, vowed that Israel would continue operating in Gaza until the militant group Hamas was eliminated. "It doesn't mean that the war is going to end, but the war in its current stage is going to end in Rafah. This is true. We will continue mowing the grass later," Netanyahu said	CNN	U.S. Grants Targeting Oilfield Emissions, Nigerian Offshore Auction, EU Sanctions on Russian LNG: Your Daily Energy News
As U.S.-supplied weapons show impact inside Russia, Ukrainian soldiers hope for deeper strikes		Weeks after the decision allowing Ukraine to use U.S.-supplied weapons for limited strikes in Russian territory, the country is having some success in halting Russia's new push along the northeast front, but military commanders are clamoring for restrictions on long-range missiles to be lifted. Deteriorating battlefield conditions forced the U.S. to permit Ukraine to use Western-supplied artillery and rocket systems to defend the eastern city of Kharkiv by targeting border regions where the Kremlin's forces assemble and launch attacks. The impact was swift: Ukrainian forces pushed Russian positions back, won time to better fortify their own positions and even mounted small offensive actions.	AP News	Roads Will Be Busier Than Ever for July 4, AAA Says
Oil eases as strong dollar weighs on commodities markets		Oil prices inched down on Monday as concerns of higher-for-longer interest rates resurfaced and lifted the dollar, offsetting support for oil markets from geopolitical tensions and OPEC+ supply cuts. "The U.S. dollar has opened bid this morning and appears to have broken higher following better U.S. PMI data on Friday night and political concerns ahead of the French election," said Tony Sycamore, a Sydney-based markets analyst at IG.	Reuters	Global Oil Use Exceeded 100 Million Barrels Per Day in 2023
Gold edges higher on softer yields; U.S. inflation data in focus		Gold prices edged up on Monday as Treasury yields fell, while investors awaited key U.S. inflation data and Federal Reserve officials' comments through the week for fresh clues on the potential timing of the central bank's interest rate cut. Benchmark 10-year U.S. Treasury yields edged down, making non-yielding bullion more attractive for investors. "Friday night saw a pretty significant sell-off due to the strong U.S. dollar. Gold has been hit by that to some extent, even though the markets are sort of edging towards two rate-cuts this year," said Kyle Rodda, a financial market analyst at Capital.com.	CNBC	Great Britain: With Elections Looming, Economy Trumps Energy
Natural Gas News: Will Strong Production Lead to Further Declines?		Natural Gas Prices Decline Amidst Rising Production and Weather Concerns: U.S. natural gas prices experienced a significant drop last week, falling over 6% as increased production and shifting weather patterns drove market sentiment. Weather Influences and Trading Patterns: While excessive heat across the Midwest and East boosted spot prices due to increased cooling demand, futures struggled under the weight of rising production. High-pressure systems dominating the southern and eastern U.S. led to temperatures in the upper 80s to 100s, but traders noted that the market had already priced in these conditions.	FX Empire	Might as Well Burn Money, World Bank Says on Gas Flaring
Canada Looks to Challenge China's Rare Earth Dominance		Canada acquired rare earth minerals from Australia, prioritizing domestic REE value chain and economic security. Canada's critical minerals list expansion emphasizes the importance of transitioning to green energy sources. Canada's actions send a strong message, further straining relations between China and the West. As if its challenge weren't clear enough, Canada recently joined the U.S., Japan, and the Philippines to conduct military exercises in the South China Sea. Tensions between the four countries are on the rise, and economics is the prime battlefield. With REEs as a strategic focus and green energy policies on the Western docket, nations may put pressure on each other by sanctioning or otherwise straining metals supply chains-a move strategists on both sides will surely consider.	OilPrice	U.S. Metals Sector Eyes $2 Billion in Third-Quarter Kickoffs
AI Is Already Wreaking Havoc on Global Power Power Systems		The energy supply can't come soon enough for DataBank, the data center provider that owns the Virginia facility. An unnamed "big tech" client leased the entire facility and was so eager to tap into the complex to access computing resources for AI applications that it had servers ready in the building before DataBank was scheduled to have electricity for them. The almost overnight surge in electricity demand from data centers is now outstripping the available power supply in many parts of the world, according to interviews with data center operators, energy providers and tech executives. That dynamic is leading to years-long waits for businesses to access the grid as well as growing concerns of outages and price increases for those living in the densest data center markets.	Bloomberg	Top U.S. Semiconductor, Computer Firms Prep for Major Kickoffs
Week 06/17/24 - 06/24/24		Where do we go from here? as Israel might be winding down its intense Gaza operations as it turns its attention northward to Lebanon and Hezbollah. And, in Eastern Europe, it appears that Ukraine has stalled the Russian advance to Kharkiv as it launches attacks into Russia. The dollar is strengthening, which will weigh on commodities as well as global currency markets as we await more Central Bank news. French elections are just around the corner with the U.K. following. And the U.S. presidential candidates are poised for their first debate this week. So, other than more uncertainty and volatility, what lies in store in these energy markets? ...as we await more key indicators to provide a clear direction.
*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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