Stock Futures Surge, Oil Tumbles On Iran Ceasefire Optimism

China's Car Sales Slump As Gasoline Demand Craters Authored by Irina Slav via OilPrice.com, Chinese car sales in China fell by 21.5% in April, driven by lower demand for gasoline-powered vehicles amid higher fuel prices. EV demand failed to offset the drop in internal combustion engine vehicle sales, as well. According to Bloomberg data, total car sales in China last month hit 1.4 million. This was the lowest since 2022, when China was still in the grip of Covid lockdowns. Internal combustion engine car sales suffered a decline of over 30%, while EV and...

SpaceX Reportedly Lowers IPO Valuation Target SpaceX is targeting a valuation of at least $1.8 trillion in its upcoming initial public offering, Bloomberg reported, citing people familiar with the matter. This is below an earlier goal of more than $2 trillion. In practice, the initial IPO valuation target is a marketing range, not a final number. Therefore, any valuation shifts ahead of the trading day would not be unusual. This suggests advisers are calibrating the deal to what investors are willing to absorb, especially given the massive proposed raise of...

Uprising In Ceuta: Locals Have Had Enough Of Migrant Invasion Authored by Steve Watson via Modernity News, In the complete absence of any meaningful government action, the people of Ceuta have taken matters into their own hands. On Wednesday night, Spanish flags filled the streets of the North African enclave. Crowds chanted for deportations. Then a column of residents pushed toward El Trampolín beach, the open-air settlement that has occupied a family shoreline for nearly a month. Tents came down. Belongings went into the sea. Police formed a line between Spaniards and the...