From the beginning, New Shepard was designed to fly above the Kármán line so none of our astronauts have an asterisk next to their name. For 96% of the world’s population, space begins 100 km up at the internationally recognized Kármán line. pic.twitter.com/QRoufBIrUJ
Capsule, touchdown! Welcome home to #NewShepard’s first astronaut crew. A truly historic day. #NSFirstHumanFlight
Surprise delivery from @JeffBezos and his brother Mark and yes, I did ask him if this was his last meal… pic.twitter.com/s2AOpniRnW
Jeff Bezos and his brother Mark just stopped by the Blue Origin press site to deliver dinner to the broadcast crews setting up: pic.twitter.com/yqQqfTo338
Where is Blue Origin launching from?
If all goes to plan, the company's New Shepard rocket and capsule will take off for an 11-minute journey, launching and landing outside Van Horn, Texas at Blue Origin facilities, dubbed Launch Site One. Space.comBlue Origin to launch its 1st astronaut flight with Jeff Bezos and crew of 3 today
When Will Jeff Bezos go into space?
Bezos will attempt to fly to space on Tuesday, July 20, launching aboard a rocket and capsule developed by Blue Origin, the Amazon founder's private space company. NBC NewsNow it's Jeff Bezos' turn to make history with flight into space
How much did Blue Origin cost?
The price was originally $200,000 and later raised to $250,000, but Virgin Galactic stopped sales in 2014 after a crash of its first space plane during a test flight. Virgin Galactic officials say they will resume sales later this year, and the price will likely be higher than $250,000. The New York TimesHow Much Does It Cost to Fly on Blue Origin's New Shepard?
How much has Jeff Bezos spent on Blue Origin?
If all goes well, Jeff Bezos will spend four minutes on Tuesday suspended weightless in the lowest rung of suborbital space. For the world's richest man, who's funded his space company, Blue Origin, with at least $5.5 billion of his own money, that's about $1.38 billion a minute. fortune.comEverything to know about Tuesday’s Blue Origin space launch with Jeff Bezos
The drop was the steepest since March, a rude awakening for oil bulls who'd been enjoying the commodities' highest prices in 2½ years.
International benchmark Brent crude was trading at $68.42 a barrel at 2:15 p.m. in London on Tuesday, down just over 7% from its Friday close of $73.59 a barrel.
Oil analysts were quick to stress the uncertain road ahead for demand as new waves of Covid-19 infections ― many among communities that have high vaccination rates ― threaten the recent months of economic recovery.
"The market is clearly unsettled about the demand outlook. And rightly so. The rise in delta variant cases is raising questions about the sustainability of demand," Stephen Brennock, a senior analyst at PVM Oil Associates in London, wrote in a research note Tuesday entitled "Oil takes a beating."
But analysts at Goldman Sachs led by Senior Commodity Strategist Damien Courvalin see the current setback as merely a speedbump, with little concrete reason for oil bulls to be worried.
Oil balances globally are tighter than they were before, despite the agreement between OPEC and its allies over the weekend to cumulatively increase crude production by 400,000 barrels a day on a monthly basis beginning in August.
The International Energy Agency estimated a 1.5 million barrel per day shortfall for the second half of this year compared to its demand predictions in the absence of an OPEC supply deal.
And Goldman predicts the impact from delta to be in the neighborhood of "a potential 1 mb/d (million barrels per day) hit for only a couple months, and even less if vaccines prove effective at lowering hospitalizations in DMs (developing markets), the origin of most summer demand improvements," as per its latest report.
Goldman's call is in line with its previously bullish stance, which saw it forecasting Brent hitting $80 per barrel in the second half of this year.
The optimistic recovery outlook, paired with what it sees as a "slower" production ramp-up than expected from OPEC and tighter supply, so far means that "our constructive view on oil prices remains intact." But the immediate-term demand hit from delta fears triggered a swap in the lender's quarterly forecasts: It now expects Brent to average $75 per barrel in the third quarter of this year and only reach $80 by the fourth quarter.
"Oil prices may continue to gyrate wildly in the coming weeks given the uncertainties of the Delta variant and the slow velocity of supply developments," Goldman's analysts wrote.
Nonetheless, they continued, "we believe that the oil market repricing to a higher equilibrium is far from over, with the bullish impulse shifting from the demand to the supply side."
A less talked-about factor in the future demand picture is the world's biggest oil customer: China. The recovery of the planet's second-largest economy is showing signs of losing momentum, which would throw a major wrench in the trajectory for crude.
China's crude imports were down 2% in May from the previous month and the lowest monthly volume since the year began, according to PVM Associates, falling to 9.77 million barrels per day. In July, they fell further to 9.55 million barrels per day, according to Refinitiv Oil Research. The country's imports for the first half of 2021 were down 3% from the same period in 2020, and the first contraction of that level since 2013.
"Questions are being asked whether the recently announced increase in OPEC+ supply will overwhelm the recovery in demand," Brennock wrote. "Currently, this seems unlikely, although the evidence from the world's top oil importing nation appears to favour the bearish narrative."
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