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• Oil demand to peak by 2030, IEA predicts
  The International Energy Agency predicts that the world is approaching...
  The International Energy Agency predicts that the world is approaching a major shake-up in the global energy landscape, with oil demand expected to peak by the end of the decade as the transition to an era powered by electricity picks up pace. Peak oil demand could lead to an oversupply of oil and gas, driving down prices and freeing up funds for investment in renewable energy technologies, the agency says.
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• 🇮🇱 Israel confirmed it killed Hamas leader Yahya Sinwar
  The mastermind of the October 7 attacks that killed 1,200 Israelis and...
  The mastermind of the October 7 attacks that killed 1,200 Israelis and took hundreds of hostages back to Gaza, Sinwar was the top target of the Israeli military for more than a year. His body was discovered after a firefight in Gaza, and his identity was later confirmed with DNA testing. Sinwar was reportedly overseeing Hamas military operations while in hiding, in addition to serving as the group’s political leader following the July assassination of Ismail Haniyeh in Iran. Several US officials affirmed the news of Sinwar’s death, while some were hopeful that it could convince Israel to scale back its brutal war and end the suffering in Gaza. Israeli Prime Minister Benjamin Netanyahu said it marks the “beginning of the end” but that the war will continue.
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• ☕️What Else is Brewing Friday Morning
  Meta laid off employees at Instagram and WhatsApp. According...
  Meta laid off employees at Instagram and WhatsApp. According to The Verge, the social media giant made a series of cuts across various departments as part of a reorganization. A Meta spokesperson confirmed there were layoffs aligned with “long-term strategic goals and location strategy.” Meta also recently fired about two dozen employees for abusing $25 Uber Eats and Grubhub credits, the Financial Times reported. Staff members were allegedly using the company perk, which is meant for employees in locations without cafeterias, to buy household items like laundry detergent instead of food. The moves come about two years after Meta laid off tens of thousands of employees as part of CEO Mark Zuckerberg’s “year of efficiency.”
  
  Prada, alongside Axiom Space, unveiled the design of the spacesuit that NASA astronauts will wear when they walk on the moon in 2026.
  
  Google said it will block ads about the presidential election after Nov. 5 to prevent the spread of misinformation, like if a candidate prematurely declares victory, Axios reported.
  
  Ferrari revealed its first supercar in 11 years: the $3.9 million F80, inspired by the aerospace industry.
  
  Weight loss drugs like Novo Nordisk’s Ozempic can help to cut drug and alcohol abuse, according to a new study.
  
  Ukrainian President Volodymyr Zelensky said that he has received intelligence that 10,000 North Korean troops are preparing to fight alongside Russians in Ukraine.
  
  
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• Closing Oil and Gas Prices for Thursday
  Oil prices inched up on Thursday, bouncing back from...

  Oil prices inched up on Thursday, bouncing back from two-week lows, after data showed falling crude and fuel inventories in the United States.

  
  

  Both benchmarks had settled down on Wednesday, closing at their lowest levels since Oct. 2 for a second day in a row, after OPEC and the International Energy Agency cut demand forecasts for 2024 and 2025.

  
  

  U.S. crude inventories fell by 2.2 million barrels to 420.6 million barrels in the week ended Oct. 11, the Energy Information Administration said on Thursday, compared with analysts' expectations in a Reuters poll for a 1.8 million-barrel rise. Gasoline and distillate inventories also fell last week.

  
  

  "This tells me operational efficiencies are still improving," said Tim Snyder, chief economist at Matador Economics. "Markets are normalizing."

  
  

  As of October 17, 2024, the closing prices for oil and gas were:

  
  

  WTI Crude: $70.67 per barrel

  
  

  Brent Crude: $74.04 per barrel

  
  

  Natural Gas: $2.48 per MMBtu

  
  

  Gasoline: $2.04 per gallon

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• Dow books another record close as economic data reinforces soft-landing scenario
  U.S. stocks closed mostly higher on Thursday, with the...

  U.S. stocks closed mostly higher on Thursday, with the Dow logging its 49th record finish so far this year.

  
  

  The rally in equities continued as retail-sales data for September came in surprisingly strong and jobless claims retreated, reinforcing a soft-landing scenario for the economy.

  
  

  According to preliminary FactSet data, the Dow Jones Industrial Average added about 161 points, or 0.4%, to close at about 43,238.

  
  

  The S&P 500 shed 1 point, or less than 0.1%, ending roughly flat at around 5,841.

  
  

  The Nasdaq Composite Index advanced about 6 points, or less than 0.1%, closing around 18,373.

  
  

  According to Dow Jones Market Data, the Dow clinched its most record closes in a year in 2017, at 71.

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