Smartkarma Daily Briefs

• Trump’s pro-oil stance is expected to weigh on prices by boosting U.S. output in an oversupplied market. Like in his first term, he aims to expand drilling in federal lands.
• During Trump’s first term, federal land leases averaged 1.62 million acres annually, a stark contrast to Biden’s 138,000 acres, implying a dramatic 91% decline.
• Rising U.S. oil production has reduced OPEC+ share to 48% from 55% in 2016. OPEC+ fears further U.S. output growth under Trump could weaken its ability to sustain prices.

• Nickel market focusing on developments in Indonesia, China, and US policies
• Impact of policy changes on nickel demand in the battery sector
• Potential diversification in ownership of Indonesian nickel projects due to concerns over Chinese stakeholding.

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• WTI futures rose 1.6% for the week ending 27/Dec, led by China’s planned stimulus initiative and declining U.S. crude oil stockpiles.  
• WTI options Put/Call volume ratio rose to 0.97 from 0.95 (20/Dec) last week, as call volume grew by 22.3% WoW while put volume increased by 25.2%.  
• WTI OI PCR rose to 0.89 from 0.87 last week. Call OI inched up by 1.8% WoW, while put OI rose by 3.6%.

• US natural gas prices fell by 9.7% for the week ending 27/Dec, as volatile weather forecasts and a smaller-than-expected drawdown in natural gas inventories offset rising LNG exports.
• Henry Hub Put/Call volume ratio jumped to 1.05 from 0.60 (20/Dec) the previous week as call volumes dropped by 73.1% WoW, while put volumes fell by 52.4%. 
• Henry Hub OI PCR inched up to 0.85 from 0.84 compared to last week. Call OI fell by 17.1% WoW, while put OI decreased by 16.5%.

• CEAT buys Off-Highway Tires (OHT) business and Camso brand for US$225 million
• CEAT to access 40 global OEMs and a vast network of OHT distributors
• Michelin expands Chennai TBR tire plant, spending US$66 million

• The acquisition of O2 Power brings with it a robust portfolio of 4,696 MW of renewable energy assets, wherein JSWE’s Current operational capacity stands at 7740 MW
• JSW Energy’s total locked-in generation capacity will reach nearly 24,708 MW by June 2027, marking a substantial increase of 23% from its previous capacity of 20,012 MW
• JSW Energy can leverage its in-house EPC and O&M capabilities to unlock further value from the 4.7 GW portfolio.

• Element Solutions Inc. reported its financial results for the third quarter of 2024, showcasing notable growth and strategic initiatives that both bolster and challenge the company’s outlook.
• On the positive side, the company demonstrated a consistent strategic execution by targeting high value segments within the electronics supply chain.
• This focus has allowed it to benefit from trends like advanced packaging and power electronics, especially in sectors like high-performance computing, electric vehicles (EVs), and semiconductor assembly.