Heightened geopolitical risk following the Palestinian militant group Hamas’ attack on Israel over the weekend helped push crude prices up around 4% Monday — even as the impact on Club energy names Pioneer Natural Resources (PXD) and Coterra Energy (CTRA) has been colored by acquisition talks and surging gas prices. West Texas Intermediate crude, the U.S. oil benchmark, traded over $86 a barrel Monday, and global standard Brent crude traded at around $88 a barrel. While there is no significant oil production in Israel and the Palestinian Territories, a potential broader conflict in the Middle East could create risks for oil supplies, according to Morgan Stanley. Israel declared war on Hamas after the militant group that controls the Gaza Strip launched a deadly surprise attack on Saturday. The rise in crude prices Monday cuts into the losses WTI and Brent saw last week when both suffered their worst weekly performances since March, as fears about weakening demand for oil overtook tightening-supply expectations that had dominated the market for months. To be sure, even with Monday’s advance, oil prices remain well off their late September peaks. On Sept. 28, WTI traded as high as $95 a barrel and Brent nearly touched $98 a barrel. In the near term, there could be “some more upside” to oil prices “because the economic concerns take a backseat to this geopolitical risk that is staring us right in the face at the moment,” John Kilduff, partner at commodities-focused firm Again Capital, said Monday on CNBC. Energy was the top-performing sector in the S & P 500 on Monday, climbing 4.6%, while the broader index was higher by about 0.5%. For the Club’s companies in the sector, Coterra Energy closed up more than 5% Monday, at just over $28 per share, while Pioneer Natural Resources closed down 0.8% in the session, at $235.54 a share. Coterra’s gains Monday are roughly in line with the performance of State Street Global Advisors’ S & P Oil & Gas Exploration & Production ETF , known as the XOP. In addition to receiving a lift from crude’s gain, Coterra is benefiting from the continued strength in natural gas. On Monday, natural gas futures rose another 1%, to around $3.37 per million British thermal units. Last week, natural gas surged 14% to reach its highest price since late January. Jim Cramer on Monday argued Coterra’s stock price still does not appropriately capture the move higher in natural gas and the lift in profits the company should experience as a result. Houston-based Coterra’s revenues are split roughly 50-50 between natural gas and crude, while Pioneer is more levered to oil. “I reiterate that Coterra should go to $35” per share, Jim said. Pioneer’s move lower Monday is also being significantly impacted by reports that Exxon Mobil (XOM) is looking to acquire the company. Pioneer stock surged more than 10% Friday following a Wall Street Journal report late Thursday that Exxon Mobil is in advanced talks to take over the Club holding in a deal that could be valued around $60 billion. The stock’s massive outperformance Friday means that any financial benefit Pioneer would receive from Monday’s higher oil prices was already captured in the session prior. And given a deal has not yet materialized, there could be some selling by traders who jumped into the stock Friday looking for a quick flip. Another factor hanging over Pioneer’s stock price right now is uncertainty around the specifics of any Exxon deal for the company. There’s an expectation among investors that Exxon stock would be a large component, CNBC’s David Faber reported Monday, noting that Exxon’s planned $4.9 billion acquisition of Denbury Inc. is an all-stock transaction. While Pioneer shareholders who hold a bullish view of Exxon’s future might welcome a deal structured in a similar way, sometimes investors just prefer to receive cash since those deals often guarantee a price at a premium. All-stock transactions mean the selling stockholders share some of the deal risk. As Jim indicated Friday, our plan is continue holding onto Pioneer, as we await more details about a potential tie-up. (Jim Cramer’s Charitable Trust is long PXD and CTRA. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Silhouette of Permian Basin pumpjacks taken at dusk, north of Midland, Texas, U.S. in late 2019.
Tesla’s retro-futuristic diner with Superchargers and giant movie screens is ready to open, and I have to admit, it looks pretty sick.
This project has been in the works for a long time.
In 2018, Elon Musk said that Tesla planned to open an “old school drive-in, roller skates & rock restaurant at one of the new Tesla Supercharger locations in Los Angeles.” It was yet another “Is he joking?” kind of Elon Musk idea, but he wasn’t kidding.
7 years after being originally announced, the project appears now ready to open:
Musk said that he ate at the diner last night and claimed that it is “one of the coolest spots in LA.” He didn’t say when it will open, but Tesla vehicles have been spotted at Supercharger and people appear to be testing the dinning experience inside.
A Tesla Optimus Robot can be seen inside the diner on a test rack. It looks like Tesla might use one for some tasks inside the diner.
I think it looks pretty cool. I am a fan of the design and concept.
However, considering the state of the Tesla community, I don’t think I’d like the vibes. That said, it looks like Tesla isn’t prominently pushing its branding on the diner.
You can come and charge there, but it looks like Tesla is also aiming to get a wider clientele just for dining.
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Plant Vogtle Nuclear Power Plant in Waynesboro, GA, August 15, 2024.
Van Applegate | CNBC
Westinghouse plans to build 10 large nuclear reactors in the U.S. with construction to begin by 2030, interim CEO Dan Sumner told President Donald Trump at a roundtable in Pittsburgh on Tuesday.
Westinghouse’s big AP1000 reactor generates enough electricity to power more than 750,000 homes, according to the company. Building 10 of these reactors would drive $75 billion of economic value across the U.S. and $6 billion in Pennsylvania, Sumner said.
The Westinghouse executive laid out the plan to Trump during a conference on energy and artificial intelligence at Carnegie Mellon University. Technology, energy and financial executives announced more than $90 billion of investment in data centers and power infrastructure at the conference, according to the office of Sen. Dave McCormick, who organized the event.
Trump issued four executive orders in May that aim to quadruple nuclear power in the U.S. by 2050. The president called for the U.S. to have 10 nuclear plants under construction by 2050. He ordered a “wholesale revision” of the Nuclear Regulatory Commission’s rules and guidelines.
The U.S. has built only two new nuclear reactors over the past 30 years, both of which were Westinghouse AP1000s at Plant Vogtle in Waynesboro, Georgia. The project notoriously came in $18 billion over budget and seven years behind schedule, contributing to the bankruptcy of Westinghouse.
The industry stalwart emerged from bankruptcy in 2018 and us now owned by Canadian uranium miner Cameco and Brookfield Asset Management.
Westinghouse announced a partnership with Google on Tuesday to use AI tools to make the construction of AP1000s an “efficient, repeatable process,” according to the company.
Hyundai’s electric minivan is finally out in the open. The Staria EV was caught without camo near Hyundai’s R&D center in Korea, giving us a closer look at the electric minivan undisguised.
Hyundai’s electric minivan drops camo ahead of debut
The Staria arrived in 2021 as the successor to the Starex, Hyundai’s multi-purpose vehicle (MPV). Although the Staria has received several updates throughout the years, 2026 will be its biggest by far.
Hyundai will launch the Staria EV, its first electric minivan. Like the current model, the 2026 Staria will be available in several different configurations, including cargo, passenger, and even a camper version.
We’ve seen the Staria EV out in public a few times already. Last month, we got a glimpse of it while driving on public roads in Korea.
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Despite the camouflage, new EV-like design elements were visible, including updated LED headlights and a full-length light bar. Although it’s still unclear, the electric version appears to be roughly the same size as the current Staria from the side, but slightly wider from the front.
New images posted on the South Korean forum Clien reveal a test car, expected to be Hyundai’s Staria electric minivan, without camo.
Like most Hyundai test cars, the prototype has a black front and a grey body. It still features a similar look to other prototypes we’ve seen, but you can clearly see the new facelift.
Earlier this year, a Staria EV was spotted in a parking lot in Korea, featuring a similar look. The electric version is nearly identical to the Staria Lounge, but with an added charge port and closed-off grille.
The Hyundai Staria EV is expected to make its global debut later this year. Technical details have yet to be revealed, but it’s expected to feature either a 76 kWh or 84 kWh battery, providing a range of around 350 km (217 miles) to 400 km (249 miles).
Hyundai Staria Lounge (Source: Hyundai)
Hyundai’s electric SUV arrives after Kia introduced its first electric van, the PV5, which launched in Europe and Korea earlier this year.
In Europe, the Kia Passenger PV5 model is available with two battery pack options: 51.5 kWh and 71.2 kWh, providing WLTP ranges of 179 miles and 249 miles, respectively. The Cargo version has a WLTP range of 181 miles or 247 miles.