IIR's May 13 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
Israel renews fight in north Gaza, advances on Rafah in south		Israeli forces are advancing on the southern city of Rafah, aiming to destroy what Israeli officials have called the last significant Hamas stronghold in Gaza. Meanwhile, Israel and the militant group are again clashing in areas in the north. U.S. Secretary of State Antony Blinken told CBS's "Face the Nation" that any Israeli conquest of Rafah is "not sustainable" without a credible plan for postwar Gaza. "A lot of armed Hamas will be left no matter what they do in Rafah," he said.	Washington Post	U.S. Rig Count, Renewable Power Use: Your Daily Energy News
Russian Forces Push Deeper Into Northern Ukraine		In the past three days, Russian troops, backed by fighter jets, artillery and lethal drones, have poured across Ukraine's northeastern border and seized at least nine villages and settlements, ­and more square miles per day than at almost any other point in the war, save the very beginning. In some places, Ukrainian troops are retreating, and Ukrainian commanders are blaming each other for the defeats. The city of Kharkiv itself is safe - at the moment.	New York Times	Brazil's Heavy Rains and Floods: Infrastructure Impact Roundup
Brent hovers above $83 as inflation data takes centre stage		Oil prices edged higher on Monday after losing about $1 a barrel in the previous session on signs that U.S. policymakers are likely to keep interest rates higher for longer. Though prices were supported by a few factors last week, including a lack of progress in the latest round of negotiations to halt hostilities in Gaza, economic factors are back in the spotlight. Commentary from policymakers suggests that a lowering of borrowing costs is expected sooner in the UK and Europe than in the United States. U.S. inflation data this week will further inform the Federal Reserve on interest rate policy.	Reuters	DOE Identifies 10 Preliminary National Transmission Corridors
Asia markets largely lower as investors assess China inflation data, await Japan GDP print		Asia-Pacific markets were largely lower Monday as investors assessed China's stronger-than-expected April inflation data. China's consumer price index climbed 0.3% year on year, beating Reuters' estimates of a 0.2% rise. The producer price index, however, fell 2.5% year on year, more than the estimated 2.3% drop. The data highlight for the week will be Japan's first-quarter GDP, which is expected to have contracted an annualized 1.5%, according to a Reuters poll, likely jeopardizing the Bank of Japan's plans to raise interest rates. India's inflation figures will also be out late Monday, with economists polled by Reuters expecting inflation in the world's fifth largest economy to slow slightly to 4.8% in April, down from March's 4.85%.	CNBC	IIR Webinar: ESG Elements Give Big Boost to Chemical Industry Spending
Natural Gas News: Can Lower Output and Strong LNG Demand Sustain High Prices?		Natural gas futures closed lower on Friday but marked a strong week overall, buoyed by decreasing production levels and robust demand linked to liquefied natural gas (LNG) exports. This positive momentum allowed natural gas to secure gains for the second consecutive week, a feat last achieved in early March. Technical Adjustment: Natural gas futures took a downward turn, influenced by signs of a potential bearish trend, notably highlighted by a closing price reversal top last Friday. This movement is largely seen as a technical correction, likely triggered by overbought market conditions.	FX Empire	NextDecade Expects Train 4 FID for Rio Grande This Year
Machine Learning Could Make Geothermal Energy More Affordable		As governments and private companies pump funds into research and development, aiming to achieve the innovation needed to advance renewable energy operations, we are seeing greater progress in the global green transition. With major advances in artificial intelligence (AI) and other digital offerings in recent years, some energy experts believe that this technology can now be used to enhance energy production, boosting the potential of the world's geothermal energy output. There is great enthusiasm around the potential for developing the world's geothermal energy as it could provide an endless renewable resource. However, at present, the cost of project development is around five times that of wind energy, meaning that it is often overlooked. It costs around $8.7 million per megawatt of geothermal-derived electricity.	OilPrice	IEA Report Has Good News on Manufacturing Clean Energy Technologies
Week 05/06/24 - 05/13/24		Fighting intensifies in both Gaza as well as Ukraine as Israel and Russian forces go on the offensive. Though one would expect Mr. Oil Market to be bullish and to advance on this news-with ever-increasing geopolitical risk premium that is not how it is playing out as WTI hovers below $80 and Brent below $85. Why, one wonders? Simply because there remain global economic concerns in regard to tempering and beating back Inflation-from the U.S. to Europe to Asia. More economic reports and data are to be released this week, which could indicate what decisions the Central Banks will make as the Northern Hemisphere prepares to step into a volatile Summer.
*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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