Locator: 51348VACAMUERTA.
Updates
WTI: spiking late morning; up over 3%; trading at $77.73. Iran says US-flagged and Israeli-flagged ships will not be allowed to transit the strait. Will we back to $80+ by Monday? If Trump accepts the fact that the strait is closed to America and Israel (this will also be other-flagged cargo with Israel or US destinations), Iran can declare victory, a Pyrrhic victory.
All indices are now red: midday.
S&P: to get from 7,700 to 8,000, it only needs to go up 4%.
Original Post
Vaca Muerta: turns out to be surprisingly good. Link here.
I track the Vaca Muerta at the sidebar at the right, but haven't updated it in ages. Link here. XOM sold its Vaca Muerta holdings back in 2024. So, this company went out of its way to sue CVX over Hess holdings (and lost) and willingly sold their position in Argentina. Talk about no skating to where the puck will be. Vaca Muerta is now producing 625,000 bopd.
SPACEX: will build chips in Texas.
TSLA says Terafab will be built in Grimes County Texas as both it and SPCX prepare for chip demand beyond global supply. The company plans to build “the largest chip manufacturing facility ever” with a goal of producing more than 1 terawatt of compute annually.
Markets:
- Dow: down 330 points:
- NASDAQ: flat
- WTI: up $1.73; trading at $77
Musk:
- SPCX: doing just fine, thank you. Up a couple of bucks after the "unlock."
Natura gas:
- LNG: up $8 after earnings report.
TECH:
- AAPL: up earlier, now down, less than a $1
- AVGO: up $6
- TSM: up $8
- AMD: up $9
- AMZN: up $1
Oil:
- CVX: up $2
- PSX: up $2
- COP: up $1 -- completed its asset sale ahead of schedule; $1.7 billion non-core lower 48.
