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Real-time News
On March 13th, betting on clean energy stocks seemed foolish after Trumps return to the White House last year. But for Helen Jewell, Chief Investment Officer for International Fundamental Equities at BlackRock, the clean energy rally is poised to continue, as the US-led Middle East wars provide a stark reminder of the worlds deep dependence on the regions oil and gas. She said the strikes against Iran "highlight the strategic importance of energy independence, grid resilience, and secure domestic power generation. Given the need for rapid, secure incremental growth in national grids, clean energy stocks are poised to continue their upward trend." Jewell stated, "We are very clear that for AI to succeed, you need such a massive amount of energy that the story is no longer about replacing traditional energy, but about coexisting with traditional energy." A year has passed: as of Wednesdays close, the S&P Global Clean Energy Transition Index surged 61%, far exceeding the S&P 500s 23% gain. It also outperformed the "Big Seven" stocks 39% gain and nearly doubled the gains of oil stocks—despite oil prices rising above $100 due to the Iran war.March 13 - Ship tracking data shows that approximately 30 oil tankers carrying Russian crude oil and fuel in Asian waters are now eligible for trade following the U.S.s issuance of temporary purchase waivers for goods already en route. Data shows these vessels are carrying at least 19 million barrels of Russian crude oil and 310,000 tons of refined petroleum products. The refined products mainly consist of naphtha used in plastics production and some diesel fuel; prices for these products have surged since Irans de facto blockade of the Strait of Hormuz. Tracking data shows these vessels are currently in a "standby" status – meaning they have no definite destination or are en route to Singapore and Malaysia, areas where tankers typically remain awaiting cargo deals. Kpler senior crude oil analyst Muyu Xu stated that the U.S. decision is "buying time for countries and refiners to cope with supply shocks from the Middle East." She noted, "Countries will buy any resources they can find – energy security is a top priority for all countries."Japanese Ministry of Industry and Trade officials have requested that refineries draw on Japans oil reserves and release them to the market starting next week to meet domestic demand.The Israeli military claims it has attacked the Zalariyah Bridge over the Litani River in Lebanon.March 13th - Geely has announced that its G-ASD intelligent driver assistance system has received the UNR171 international certification from the United Nations and the European Union. This certification, jointly issued by the China Automotive Technology and Research Center (CATARC) and IDIADA, marks G-ASD as the first high-level driver assistance system from China to successfully go global. The first Geely G-ASD model to pass UNR171 certification is expected to officially hit the roads in Europe this June. In the future, this system will fully power brands such as Geely, Jike, Lynk & Co, and Lotus.
