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Port workers on the East and Gulf coasts agree to end their strikes

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Port workers on the East and Gulf coasts agree to end their strikes
Dockworkers Strike Shuts Down Ports On Gulf And East Coasts
Photo by Anna Moneymaker/Getty Images

Many ports along the East and Gulf coasts were shut down, threatening the country’s supply chains, after unionized port workers went on strike on Tuesday. But those workers will return to work after reaching a tentative agreement on wages with the group representing port employers.

As part of the agreement on wages, the United States Maritime Alliance has offered to up wages by 62 percent over a six-year contract, The New York Times reports. The two groups still have other issues to negotiate, and they have agreed to extend the “Master Contract” until January 15th, 2025.

The International Longshoremen’s Association, which represents the workers, and the United States Maritime Alliance, which represents their employers, shared a joint…

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How to Build a Budget Home Server and WHY You Should!

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How to Build a Budget Home Server and WHY You Should!



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In today’s video I’m showing you exactly how I built this ultra budget home server, and I’m also explaining to you why I think you should build one as well. I give multiple examples of things to do with a home server including building a NAS, setting up a home media/Plex server, and even how to experiement with Linux with a virtualization platform.

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Disney Imagineer wants his amazing retractable lightsaber to become a toy

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Disney Imagineer wants his amazing retractable lightsaber to become a toy

I think the company would like to do that. And I think Josh D’Amaro, our number two guy, our head of Disney Parks, said it at a public — I hope — meeting of toy vendors to say, hey, we’d like you to take what we have learned in terms of making a lightsaber, and translate that to something that would be maybe a little bit more accessible to the average person. So yeah, I think it’s going to come.

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Science & Environment

Why oil prices haven’t skyrocketed on Middle East supply fears — yet

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Oil watchers now see a real threat of supply disruptions after latest Iran-Israel escalation


A general view of Isfahan Refinery, one of the largest refineries in Iran and is considered as the first refinery in the country in terms of diversity of petroleum products in Isfahan, Iran on November 08, 2023.

Fatemeh Bahrami | Anadolu | Getty Images

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Oil prices have jumped more than $5 a barrel since the start of the week amid intensifying fears that Israel could launch an attack on Iran’s energy infrastructure.

The rally, which puts crude futures on track for gains of around 8% week-to-date, has surprised many market observers in that it appears to be somewhat subdued given what’s at stake.

Energy analysts have questioned whether oil markets are being too complacent about the risk of a widening conflict in the Middle East, particularly given that the fallout could disrupt oil flows from the key exporting region. Iran, which is a member of OPEC, is a major player in the global oil market. It’s estimated that as much as 4% of global supply could be at risk if Israel targets Iran’s oil facilities.

For some analysts, the reason crude prices have yet to move even higher is because the oil market is short. This refers to a trading strategy in which an investor hopes to profit if the market value of an asset declines.

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“There is a very large short position, not only in oil, you [also] see it in equities. In general, the investors don’t like this space. Why? They are concerned about a big oil supply glut next year,” Jeff Currie, chief strategy officer of energy pathways at Carlyle, told CNBC’s “Squawk Box Europe” on Wednesday.

“When we look at the situation today, it is starkly different. Inventories are low, curve is backwardated, demand is middling, it’s not great but now you have [China’s] stimulus package on top of that, and you still have the OPEC production cuts,” Currie said.

Oil market is short, says Carlyle Group's chief strategy officer

“On top of that, we’ve thrown in potential conflict in the Middle East that could take out some energy facilities, so the near-term outlook is positive, which is why the front of the curve is strong, but it is being weighed down on the back end over the fears of this big oil supply glut,” he added.

The market is backwardated, or in backwardation, when the futures price of oil is below the spot price. The opposite structure is known as contango.

‘The market is so short’

Amrita Sen, founder and director of research at Energy Aspects, echoed Currie’s view.

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“The market is so short. We’ve never seen these levels of record shorts before,” Sen told CNBC’s “Squawk Box Europe” on Thursday.

Many oil traders appear to have taken a bearish position on the belief that China’s stimulus rally will fail to restore confidence in the world’s second-largest economy, Sen said, adding that market participants also tend to expect OPEC and non-OPEC allies to boost oil production later in the year.

U.S. hasn't been able to yield power it used to have in the Middle East, says Energy Aspects founder

“The market has just gotten itself into this fit of around bearishness but that’s why if it goes, we could be above $80 very quickly,” Sen said.

International benchmark Brent crude futures with December expiry traded 0.1% lower at $77.54 a barrel on Friday, while U.S. West Texas Intermediate futures stood at $73.65, down 0.1% for the session.

Fundamentals ‘anything but encouraging’

Oil’s biggest move this week came on Thursday, when prices popped more than 5% following comments from U.S. President Joe Biden over a possible retaliatory move from Israel following Iran’s ballistic missile attack earlier in the week.

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Asked by reporters whether the U.S. would support an Israeli strike on Iranian oil facilities, Biden said: “We’re discussing that. I think that would be a little – anyway.” The president added that “there’s nothing going to happen today.”

CNBC has reached out to the White House for further comment.

Oil prices could rally above $200 if Iran’s energy infrastructure is wiped out, analyst says

Tamas Varga, an analyst at oil broker PVM, told CNBC via email on Thursday that the oil market was pricing in some risk premium given the geopolitical concerns.

“This is why oil is stable-to-higher, equities are weakening, and the dollar is strong. These fears, however, will be greatly alleviated in [the] coming days unless oil supply from the region or traffic through the Strait of Hormuz are materially impacted,” he added.

Situated between Iran and Oman, the Strait of Hormuz is a narrow but strategically important waterway that links crude producers in the Middle East with key markets across the world.

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“Under this scenario underlying fundamentals will become the driving force again and these fundamentals are anything but encouraging,” Varga said.

Israeli Prime Minister Benjamin Netanyahu on Tuesday pledged to respond with force to Iran’s ballistic missile attack, insisting Tehran would “pay” for what he described as a “big mistake.” His comments came shortly after Iran fired more than 180 ballistic missiles at Israel.

Speaking during a visit to Qatar on Thursday, Iranian President Masoud Pezeshkian said his country was “not in pursuit of war with Israel.” He warned, however, of a forceful response from Tehran to any further Israeli actions.

An Islamic Revolutionary Guard Corps (IRGC) speed boat is sailing along the Persian Gulf during the IRGC marine parade to commemorate Persian Gulf National Day, near the Bushehr nuclear power plant in the seaport city of Bushehr, Bushehr province, in the south of Iran, on April 29, 2024.

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Nurphoto | Nurphoto | Getty Images

Bjarne Schieldrop, chief commodities analyst at the Swedish bank SEB, said that oil prices were surprisingly steady given the high stakes.

“I think it is definitely a little bit about short covering, but [the price rally] is surprisingly weak … given the scenarios that might play out in the Middle East,” he told CNBC’s “Street Signs Europe” on Thursday.

Schieldrop said Brent crude prices had largely traded between $80 to $85 for around 18 months or so, before dipping below $70 in September. He described the oil contract’s recent move higher as “very meager,” especially given the “potentially devastating scenarios in the Middle East.”

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— CNBC’s Spencer Kimball contributed to this report.



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‘I have no idea’: The Rings of Power’s Daniel Weyman doesn’t know if The Stranger will meet Sauron in season 3, but he’s open to it

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The Stranger looks curiously at his new staff in The Rings of Power season 2 finale

Full spoilers immediately follow for The Rings of Power season 2’s final episode.


The Rings of Power‘s Daniel Weyman doesn’t know if The Stranger/Gandalf will encounter Sauron next season, but he’s certainly not ruling it out.

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Dell Tower Servers Looking for Refurbished Dell Tower Server price list

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Dell Tower Servers Looking for Refurbished Dell Tower Server price list



Dell Tower Servers

https://www.refurbprice.com/refurbished-dell-tower-servers-price-list

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A NASA Mars rover has a giant hole in one of its wheels

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A NASA Mars rover has a giant hole in one of its wheels

If the tire on your car fails, it’s either a case of changing it yourself or getting someone to do it for you. For rovers on Mars, neither option is available.

The good news is that the wheels on NASA’s robot vehicles are robust enough to keep on rolling even after suffering serious damage.

A photo recently beamed to Earth by NASA’s trusty Curiosity rover shows significant damage to its middle right wheel, but the vehicle is still able to traverse the red planet’s rocky terrain without too much difficulty.

“These big wheels keep on turning,” a message accompanying the photo said on Curiosity’s X (formerly Twitter) account on Thursday. “Recent photos of my wheels got some of you worried, but I’m here to reassure you, we’re just fine! The images help my team keep tabs on wear and tear. If it came down to it, I could shed part of them off and keep on rolling.”

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Each wheel is 50 centimeters in diameter and 40 centimeters wide, and was machined from a single block of aluminum. The wheels also have grousers (treads) that protude 7.5 millimeters from the wheel skin. Since touching down inside Mars’ Gale Crater 12 years ago, the rover has traveled around 20 miles (32 kilometers) across the challenging martian surface, which is a whole lot of rolling.

It’s not actually a big surprise that Curiosity’s wheel is looking a little tattered and torn, as holes started appearing on the rover’s wheels as early as 2013, just a year after it touched down on the distant planet.

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One of Curiosity’s remote operators said in 2014 that when the team examined some images of Curiosity’s wheel early on in the mission, “We saw a hole that was much larger than we had expected. This did not match anything we had seen in our tests. We didn’t know what was causing it. We didn’t know if it was going to continue.”

After considering how to reduce the damage, the Curiosity team began selecting routes with less treacherous terrain, and in 2017 they uploaded a new algorithm to the rover that altered each wheel’s speed and helped to lessen the pressure from rocks that it came into contact with.

Wheel damage has certainly slowed the progress of Curiosity and limited the paths that it can take, but the NASA team operating the mission are still able to achieve much with the plucky rover.


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