By Devika Syamnath Nov 1 (Reuters) - Singapore and Indonesian stock markets closed higher on Wednesday as an extended gaining run in global oil prices lifted energy stocks, while Thailand slipped, dragged by industrials. Singapore shares gained 0.5 percent, marking their strongest close in nearly two-and-a-half years, as oil prices soared to their highest since mid-2015 on hopes that major producers would maintain their output cuts. "Brent has touched a two-year high and that's providing an uplift to oil and gas stocks. You can see oil and gas heavyweights are up more than 2 percent," said Joel NG, an analyst at Singapore's KGI Securities. Oil-rig builders Sembcorp Industries and Keppel Corp rose 3 percent and 2.1 percent, respectively, with Keppel touching its highest since August 2015. Indonesia rose 0.5 percent on stronger oil and foreign fund inflows, with financials and energy stocks leading the gains. "We expect the market to trend higher on the first trading day of November, supported by foreign net buying and steady price uptick of crude oil," analyst Taye Shim of Jakarta-based Mirae Asset Sekuritas said in a note. Oil and gas explorer Energi Mega Persada rose 3 percent while Indika Energy was up 3.1 percent. Investor sentiment was also boosted by Indonesia's annual inflation rate easing for a fourth straight month in October, reaching its lowest level since January, as price increases of some foods continued to slow. Vietnam surged 0.7 percent, helped by industrial and consumer staple stocks. Builder FLC Faros Construction closed at a record high, gaining 7 percent, and was the biggest boost to the index. Meanwhile, Thai shares lost 0.4 percent, dragged by industrials. Siam Cement shed 2 percent after it reported a 16 percent fall in third-quarter net profit on weak cement demand. Thailand's annual main consumer price index rose for a fourth straight month in October, slightly higher than forecasts, but the rate was still below the central bank's target, giving it room to keep monetary policy accommodative. The Philippine market was closed on Wednesday for a public holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Previous Pct Move close Singapore 3391.61 3374.08 0.52 Bangkok 1714.55 1721.37 -0.40 Jakarta 6038.146 6005.784 0.54 Kuala Lumpur 1743.93 1747.92 -0.23 Ho Chi Minh 842.71 837.28 0.65 Change on year Market Current End 2016 Pct Move Singapore 3391.61 2880.76 17.73 Bangkok 1714.55 1542.94 11.12 Jakarta 6038.146 5296.711 14.00 Kuala Lumpur 1743.93 1641.73 6.23 Ho Chi Minh 842.71 664.87 26.75 (Reporting by Devika Syamnath; Editing by Amrutha Gayathri)
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The Skullcandy Jib True is a pair of well-built headphones that resemble its premium sibling Skullcandy Sesh Truly Wireless. They are low-profile Truly wireless headphones that look good and don't feel too cheap. They are definitely some of the smaller earbuds that we have tested and do not protrude too much from your ears.
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The Xiaomi Mi Smart Speaker (although its design mimics the Premium Sonos One) is a dream come true for first-time buyers of smart speakers. This speaker can easily be the center of the smart home ecosystem. It offers everything you can wish for from a smart speaker, at a price that is almost too good to be true.
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In its latest Short-Term Energy Outlook (STEO), released on January 12, the U.S. Energy Information Administration (EIA) forecasts that generation from natural gas-fired power plants in the U.S. electric power sector will decline by about 8% in 2021. This decline would be the first annual decline in natural gas-fired generation since 2017. Forecast generation from coal-fired power plants will increase by 14% in 2021, after declining by 20% in 2020. EIA forecasts that generation from nonhydropower renewable energy sources, such as solar and wind, will grow by 18% in 2021—the fastest annual growth rate since 2010.
The shift from coal to natural gas marked a significant change in the energy sources used to generate electricity in the United States in the past decade. This shift was driven primarily by the sustained low natural gas price. In 2020, natural gas prices were the lowest in decades: the nominal price of natural gas delivered to electric generators averaged $2.37 per million British thermal units (Btu). For 2021, EIA forecasts the average nominal price of natural gas for power generation will rise by 41% to an average of $3.35 per million Btu, about where it was in 2017. In contrast, EIA expects nominal coal prices will rise just 6% in 2021.
The large expected rise in natural gas prices is the primary driver in EIA’s forecast that less electricity will be generated from natural gas and more electricity will come from coal-fired power plants in 2021 than in recent years. EIA expects about 36% of total U.S. electricity generation in 2021 will be fueled by natural gas, down from 39% in 2020. The forecast coal-fired generation share in 2021 rises to 22% from 20% last year. However, these forecast generation shares are still different from 2017, when natural gas and coal each fueled 31% of total U.S. electricity generation.
Significant growth in electricity-generating capacity from renewable energy sources in 2021 is also likely to affect the mix of fuels used for power generation. Power developers are scheduled to add 15.4 gigawatts (GW) of new utility-scale solar capacity this year, which would be a record high. An additional 12.2 GW of wind capacity is scheduled to come online in 2021, following 21 GW of wind capacity that was added last year. Much of this new renewable generating capacity will be located in areas that have relied on natural gas as a primary fuel for power generation in recent years, such as in Texas.