NG=F above zero for first time in 4 months: shale reset read

Key Highlights Bitcoin tested $60,000 before it started a recovery wave. BTC/USD traded above a bearish trend line with resistance at $62,500 on the 4-hour chart. Ethereum recovered by over 10% and climbed above $1,750. WTI Crude Oil prices extended losses and traded below $82.00. Bitcoin Price Technical Analysis Bitcoin price extended losses and tested […] The post Bitcoin Climbs Off the Lows, Facing a Wall of Resistance Ahead appeared first on ActionForex.

The top executive at Woodside Energy Group Ltd.’s $17.5 billion liquefied natural gas project in Louisiana has departed, effective Monday, just over a year after she was hired, according to a company memo seen by Bloomberg.

Agreement will be first by a US energy major with Damascus as it aims to rebuild activity after years of civil war

Drillers in the world’s largest shale field on Monday were paid for the natural gas they produced for the first time in more than four months.

At the close: Not the best finish to the day Shares of SpaceX rise 16% as retail piles in Crude oil sets the topside risk with the run lower today Netanyahu: We will remain in Lebanon as long as we need to Trump/US Senior Official and Trump: Strait of Hormuz will be fully open on Friday The copper market is tighter than you think -- Scotia Israeli drone strike in southern Lebanon kills driver NAHB US June home builder sentiment 35 vs 37 expected Four markets that are poised to celebrate the reopening of the Strait of Hormuz US May industiral production +0.1% vs +0.2% expected US June Empire Fed +5.7 vs +14.0 expected Canada April manufacturing sales +4.2% vs +4.5% expected Canada May housing starts 261.4K vs 278.4K prior The USD is lower to start the new week as Iran deal dominates and leads the markets. investingLive European session wrap: Oil prices sink as markets cheer US-Iran agreement The U.S. dollar started the North American session on the defensive but ended the day mixed, falling against the EUR, GBP, CHF, and AUD while gaining versus the CAD, JPY, and NZD. Improving sentiment in the Middle East weighed on the greenback as investors embraced a more risk-friendly tone following reports that the United States and Iran have reached a framework peace agreement that is expected to be formally signed on Friday. According to President Trump, the agreement includes the reopening of the Strait of Hormuz, the lifting of the U.S. naval blockade of Iran, a commitment that Iran will not possess a nuclear weapon, and strict enforcement mechanisms. Additional details are expected later this week. With geopolitical tensions easing, market attention is shifting toward a busy week for central banks. The Federal Reserve is expected to leave rates unchanged when it announces its decision on Wednesday, but investors will be focused on Fed Chair Kevin Warsh's first meeting at the helm and any clues regarding the future policy bias. Before the Fed decision, the Bank of Japan is

An Israeli drone strike in southern Lebanon killed the vehicle driver, according to a security source cited by Reuters. This really calls into question whether a peace will hold, as Bibi appears to have no interest in stopping the fighting. Separately, a US military advisor said ships should not attempt to cross Hormuz until the deal is signed on June 19. That should incrementally tighten the oil market with a few more days of supply lost. This contradicts Trump, who wrote a short time ago: Ships are starting to move, many loaded up with Oil, out of the Strait of Hormuz. They are going along the Southern “Highway,” which is totally safe, secure, and pristine. There are other areas of travel, also!!! WTI crude oil is down $4.77 to $80.11. Another report says US demining operations in the Strait of Hormuz are set to begin after the Iran agreement is signed. This article was written by Adam Button at investinglive.com.

The market is breathing a sigh of relief on the war in Iran today and it's leading to some big moves. The most-consequential one is in oil, with WTI crude down $4.50 to $80.38 after briefly touching below $80. If those levels hold, it means we're past the worst of the inflationary shock and will start to see negative m/m readings, cutting into the +4% headline inflation that's squeezing consumers now. Here are four things that are benefiting: #1 Airline stocks One of the biggest losers from the war were airlines as they were hit with higher oil prices and jet fuel prices that spiked particularly high on the loss of Middle Eastern refining. The JETS airline ETF is 4% and stands to be a main beneficiary as it round trips the war decline. Moreover, airlines said that demand was resilient despite +20% fare increases to cover oil prices. That suggests strong underlying demand for flying in particular. #2 Cruise ships Another travel sector that's strong today is cruise lines, with Carnival up 6%. I highlighted that name as a potential winner of a peace a few times during the war and it's performed well as it wasn't exposed to as much fuel risk as airlines but was battered just as badly (initially). Carnival was resilient lately and is strong today. #3 Gold Gold is a big winner today and gold miners are particularly strong with many up by more than 10% today. Gold looked like it was breaking down last week as the bulls threw in the towel at the worst possible time, perhaps due to an over-reliance on technicals. Gold is a clear winner on the war ending as emerging market economies will get back to building gold reserves that were at risk due to current account deficits on the oil price spike. I would like to see gold get back above $4500 to restart the momentum trade but up $142 to $4361 today is a great start. #4 The euro The euro is up 48 pips today and I think there's more to come if the peace lasts. The eurozone economy is particularly exposed to energy flows via oil an