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• Regulatory hold-up stalls offshore CO2 storage plans
  The Biden administration's delay in creating a leasing and permitting...
  The Biden administration's delay in creating a leasing and permitting system for storing sequestered carbon in federal waters, as mandated by the 2021 Bipartisan Infrastructure Law, has left the nearly a dozen proposed developments in limbo. During a recent Senate hearing, Interior Secretary Deb Haaland emphasized the complexity of regulating a novel applied technology and said a timeline for finalizing a draft rule was not yet available.
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• Bank of England holds rates after a 7-to-2 vote
  U.K. bond yields and the British pound slipped on Thursday as the Bank...
  U.K. bond yields and the British pound slipped on Thursday as the Bank of England saw two voters prefer an interest-rate cut.
  
  By a 7-to-2 decision, the Bank of England opted to hold interest rates at 5.25%.
  
  External member Swati Dhingra, who voted last month for a cut, was joined by Dave Ramsden, deputy governor for markets and banking, in voting for a reduction.
  

  
  
  Gilt yields and the pound fell after the decision.
  
  
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• ☕️What Else is Brewing
  Uber profits hit the brakes. Last year, Uber boasted...
  Uber profits hit the brakes. Last year, Uber boasted its first full-year profit since going public. But yesterday, the company reported a surprise loss for the first quarter of 2024, dashing investors’ hopes for steady profits and sending its stock way down. The disappointing numbers suggested Uber’s growth has slowed and reflected the toll that constant legal battles with regulators are taking on the company’s finances. Meanwhile, Uber’s smaller rival Lyft appears to have its foot on the gas pedal. It posted better-than-expected quarterly results on Tuesday and saw a stock bump yesterday.
  
  President Biden said the US will not supply Israel with offensive weapons if it launches a major assault on Rafah, a city in southern Gaza to which many Palestinians have fled during the war, but would continue to send defensive weapons.
  
  Disney and Warner Bros. Discovery plan to offer a bundle of their streaming services: Hulu, Disney+, and Max. It's like cable, but you can watch it on a way smaller screen.
  
  Shohei Ohtani’s former interpreter will plead guilty to bank and tax fraud in a case stemming from his sports betting scandal and will be required to repay the Dodgers star nearly $17 million, prosecutors say.
  
  Neuralink said a part of its first implant in a human brain has malfunctioned, though the patient is still able to use the brain-computer interface system.
  
  House Speaker Mike Johnson survived Marjorie Taylor Greene’s effort to oust him, in part by getting help from Democrats.
  
  A record-breaking 30% of the world’s electricity was produced by renewables last year as wind and solar power got more popular.
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• LNG futures trading surges in April, spot prices climb
  Trading volumes for LNG futures reached 87,209 lots in April, marking...
  Trading volumes for LNG futures reached 87,209 lots in April, marking a significant year-on-year increase, while Asian spot LNG prices also rose due to geopolitical tensions. Open interest in these futures hit a 26-month high, indicating growing market activity ahead of the summer demand season.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for June delivery ...
  Benchmark U.S. crude oil for June delivery rose 61 cents to $78.99 per barrel Wednesday. Brent crude for July delivery rose 42 cents to $83.58 per barrel.
  
  Wholesale gasoline for June delivery fell 1 cent to $2.53 a gallon. June heating oil rose 1 cent to $2.48 a gallon. June natural gas fell 2 cents to $2.19 per 1,000 cubic feet.
  
  
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