What's moving markets: "Oil prices jumped Friday on a mix of factors, including bullish Chinese data and geopolitical risks from oil-rich regions in the Middle East," MarketWatch reports.
Earnings preview: A new note from HSBC looks at the upcoming third-quarter reports from the big multinational integrated oil-and-gas companies. The topline:
- "Brent's stabilisation above USD50/b has helped the sector perform well, with many stocks hitting 12-m highs in USD terms recently. We still see further upside in oil prices but importantly, prices are now at levels where financial frameworks of most companies look solid."
Tech corner: "Scientists have developed a ceramic heat pump that can operate at 1,400 ˚C, several hundred degrees hotter than existing heat transfer systems, opening up significant new possibilities for energy storage," MIT Technology Review reports.
Shell charges ahead: Here's a little more on Royal Dutch Shell's announcement yesterday that it's buying the electric vehicle charging company NewMotion, marking a major foray into the sector as major automakers ramp up plans for wider EV offerings.
- One reason it matters: "I think deep pockets — like VW and Shell — will be enormously helpful in building charging infrastructure. We need lots and lots of patient capital here, especially for the expensive but crucially important high-speed charging infrastructure," Chris Nelder, an EV expert with the Rocky Mountain Institute, tells Axios.
Latest in GM's electric push: The company, which recently announced plans to launch 20 all-electric vehicles by 2023, has named Pamela Fletcher to the newly created role of VP for Global Electric Vehicle Programs. She previously led the team that launched GM's Chevy Bolt EV.
Trump taps CEQ chief: President Trump is nominating Kathleen Hartnett White, who's currently with the conservative Texas Public Policy Foundation, as chairwoman of the White House Council on Environmental Quality.
- Go deeper: Politico explored her views, including her skepticism of mainstream climate science, in this piece a few months ago when the former Texas environmental regulator's name was circulating for the post.