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• Analysts Warn Hormuz Closure Would Cause Major Oil and Gas Price Spike
  If tensions between Iran and Israel lead to the closure of the Strait...
  If tensions between Iran and Israel lead to the closure of the Strait of Hormuz this would cause a surge in crude oil and liquefied natural gas prices.  The warning comes from analysts with Indian Motilal Oswal Financial Services.
  
  The danger of Iran closing the Strait of Hormuz, which is off its coast, has been hanging over the international oil market for years. Iran itself has threatened closure on more than one occasion. However, it has never followed up on the threats, likely because closing Hormuz will also close Iran’s own outlet to the oil market.
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• Interior Secretary bans new mining and oil and gas exploration on some New Mexico land
  By signing a document during a recent ceremony, Interior Secretary Deb...
  By signing a document during a recent ceremony, Interior Secretary Deb Haaland just banned mining and oil and gas drilling on more than 4,200 acres of land in New Mexico.
  
  The land in question is just northwest of Albuquerque and is managed by the Bureau of Land Management in an area called Placitas.
  
  The final mineral withdrawal protects, preserves, and promotes the scenic integrity, cultural importance, recreational values, and wildlife habitat connectivity of the lands and the surrounding area. The lands will be closed to new mining claims, mineral sales, and oil and gas leases for the next 50 years, subject to valid existing rights.
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• The week ahead
  Opening arguments start in Donald Trump’s criminal trial: After...
  Opening arguments start in Donald Trump’s criminal trial: After a tumultuous first week of jury selection, the final jurors were seated on Friday, and opening statements in Trump’s criminal hush money trial will begin today. Prosecutors will try to prove that this year’s presumptive Republican presidential nominee paid to keep stories about a sexual relationship with adult film star Stormy Daniels out of the media during his 2016 run for the White House. Trump has pleaded not guilty.
  
  Passover begins this evening: The Jewish holiday starts amid heightened concerns over antisemitism around Columbia University, which has been the site of large pro-Palestinian protests this past week. The White House issued a statement yesterday condemning “calls for violence and physical intimidation targeting Jewish students.”
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• ☕️What Else is Brewing Monday Morning
  Markets: Your stock portfolio is waking up this Monday...
  Markets: Your stock portfolio is waking up this Monday morning in worse shape than the guys in The Hangover. The S&P 500 just had its worst week in more than a year, and the Nasdaq is on a four-week losing streak. Blame skepticism that AI will meaningfully boost profits: Since the Nasdaq peaked last month, the largest US tech companies have lost more than $930 billion in market value. Nvidia alone lost $212 billion in value on Friday, its biggest plunge since March 2020.
  
  Sign of the times: Exxon Mobil is worth more than Tesla for the first time in more than a year.
  
  Ukrainian President Volodymyr Zelensky thanked the US House for passing a long-awaited $61 billion military assistance package and said it would save thousands of lives as Ukraine tries to repel Russia from its territory.
  
  The share of US voters who say they are highly interested in the upcoming presidential election hit a 20-year low at this point in the election calendar, per an NBC News poll.
  
  Spotify said Taylor Swift’s new album was the first to have over 300 million streams in a single day on Friday.
  
  Nikola Jokic arrived for the Denver Nuggets playoff game against the Los Angeles Lakers looking like Gru—it was part of a marketing campaign for Despicable Me 4.
  
  
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• US drillers add oil and gas rigs for first time in five weeks
  U.S. energy firms this week added oil and natural...

  U.S. energy firms this week added oil and natural gas rigs for the first time in five weeks, energy services firm Baker Hughes said in its closely followed report on Friday.

  
  The total oil and gas rig count, an early indicator of future output, rose by 2 to 619 in the week to April 19. Despite this week's rig increase, Baker Hughes said the total count was still down 134, or 18%, from last year.
  
  Baker Hughes said oil rigs rose 5 to 511 this week, their highest since September, while gas rigs fell 3 to 106, the lowest since December 2021.
  
  
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