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$NEXT & OLCV Sign Term Sheet for CO2 Transportation and StorageNextDecade, Oxy Low Carbon Ventures Sign Term Sheet for CO2 Transportation and Storage in South Texas today announced that they have executed a term sheet for the offtake and permanent geologic storage of CO2 captured from NextDecade’s planned Rio Grande LNG project in the Port of Brownsville, Texas. Under the terms of the agreement, OLCV will offtake and transport CO2 from the Rio Grande LNG project and permanently sequester it in an underground geologic formation in the Rio Grande Valley, where there is vast CO2 storage capacity, pursuant to a CO2 Offtake Agreement and a Sequestration and Monitoring Agreement to be negotiated by the parties. finance.yahoo.com
NASDAQ:NEXT
by AlenCiken
1
Surprise from the Bank of England, ECB decision, hello pandemicThe main global event of yesterday - WHO officially recognized the epidemic of the coronavirus pandemic. This hasn’t changed anything, but once again it emphasizes the seriousness of what is happening just right now. This is supported by yesterday’s decision from the Bank of England to urgently cut the rate by 0.5% (the first emergency decision since the global financial crisis). Despite the fact that this event took the markets by surprise, the pound after falling 100 points quickly recovered losses and even showed new intraday highs. The reason for optimism was the information that the British Government proposed a package of measures aimed to help the economy. Today it is the ECB's turn. President of the Central Bank Christine Lagarde has already stated that European leaders should think about fiscal measures, and not to look towards the Central Bank. It will be interesting today to observe the results of the ECB meeting and what they decide to do there. In general, we expect new reasons for the weakness of the euro and today we will continue to sell it in FOREX. Saudi Arabia, meanwhile, continued to give reasons to oil sales. We are talking about the intention of Saudi Aramco to increase oil production to 13 million bpd (now they produce about 9.7 million bpd), which essentially means flooding the market with oil. We observe what is happening with interest, but keep our heads cold. What is happening now in the oil market is a great opportunity to build an extremely promising and profitable position. We consider what is happening now in the oil market a temporary phenomenon, and current oil prices are deviated from equilibrium (are undervalued). Accordingly, our medium-term plan is to buy oil from $ 30 (WTI) with an addition to the position every $ 5 down. This position will definitely require patience, as well as funds to keep it alive. But we have no doubt about its final positive outcome. Note that the medium-term purchase does not cancel the intraday sells of the asset to trade in the current trend, to work out a fundamental negative such as yesterday's statement by Saudi Aramco or data on oil reserves in the USA (increased by 7.6 million over the week).
Short
by Trade24Fx
1
Fear still dominates markets, as well as the number of problemsDynamics of different assets yesterday can be perceived as an attempt by the markets to exhale: prices for gold and Japanese yen declined, the oil was rising. But do not treat it as everything is OK now. The current fundamental background remains extremely negative with a downward trend. The problems of Italy (the general lockdown in the country with all the ensuing losses for the economy) so far look like the beginning of a series of problems. Next in line are Germany and France. That is, the epidemic is hitting the heart of the Eurozone economy. In this light, we focus the attention of our readers on the advisability of selling the euro on all fronts. Yesterday's decline in the EURUSD pair has already made it possible to earn about 200 points to those readers who listen to our recommendations, but this is far from the end. In general, events continue to evolve. The Fear Index (VIX) at its highest levels since 2008 indicates how serious everything is. What can make a difference? First of all, incentives from leading countries. For example, the probability that the Fed will reduce the rate by another 0.75% next week is 84%. Trump announced the adoption of extraordinary measures to support the country's economy as well. This is all good, but in the final bill, you have to pay for everything. Who will pay for all these beautiful measures? In general, it is clear - public debt. US debt is already bloated to indecent. And a good way out of the situation is not yet visible. So we continue to sell in the stock markets, sell commodity currencies and emerging currencies, we sell euros. We continue to work with a pair of positions buying gold / buying USDJPY. In the oil market, meanwhile, there is a strong backstage fight. The most likely outcome, in our opinion, is that the parties (OPEC and Russia) will find a compromise. The only question is when. The answer to it is not obvious, but when such news appears, oil will give the same 30%, but in upward direction. So, strategically, oil can start to be bought already near $ 30 (WTI) with additions near $ 25. But tactically, of course, the downward pressure will dominate until the situation is resolved.
Short
by Trade24Fx