Oil Inches Higher In Cautious Trade

Oil prices were flat to slightly higher on Monday after the latest talks between world powers and Iran to revive a nuclear deal ended without an agreement.

Brent crude futures for August settlement rose 10 cents, or 0.1 percent, to $73.61 a barrel, while U.S. West Texas Intermediate (WTI) crude futures for July delivery were up 13 cents, or 0.2 percent, at $71.42 a barrel.

Both benchmarks gained over the past four weeks on hopes that increased vaccinations will help lift travel demand during the summer driving season.

Iran and six world power negotiators postponed talks on Sunday to revive the 2015 nuclear deal and it was unclear when formal negotiations would resume.

“We are now closer to an agreement than ever before, but there is still a distance between us and the agreement, and bridging it is not an easy task,” Abbas Arakchi said in Vienna.

The pause in the talks came after Ebrahim Raisi, a hardliner and fierce critic of the West, won Iran’s presidential election on Friday.

Raisi is subject to U.S. sanctions and Tehran insists they must be removed as part of an agreement to revive the pact.

Meanwhile, Iraq, OPEC’s second-biggest producer, expects oil prices to reach $80 per barrel as the energy market stabilizes.

“We are optimistic about the rise in prices, but we are counting on its stability,” expecting that “prices will exceed $70 and reach $80 per barrel”, Aseem Jihad, a spokesman for the oil ministry told Iraqi News Agency.

Ian King Business Podcast: Lockdown hit to theatres, Morrisons takeover approach, fitness mirrors

How the “Freedom Day” delay is hitting the theatre industry: Ian hears from the boss of Sadler’s Wells about the need to get back to full capacity.

Plus, reaction as Morrisons rejects an approach from a US equity firm, and VAHA chief executive Valerie Bures-Bönström on the interactive mirror which acts as a personal trainer.

Denver water main break shuts down stretch of northbound Colorado Boulevard

A water main break is causing traffic issues for drivers in Denver.

Denver Water said a 16-inch main needs repairs at Colorado Boulevard between E. 35th and E. 40th avenues.

The northbound lanes of Colorado Boulevard are expected to be shut down along the stretch of road until about 6 p.m. on Monday.

Drivers are advised to use alternate routes.

GSK, Vir Say Phase 3 COMET-ICE Trial Met Primary Endpoint – Quick Facts

GlaxoSmithKline plc (GSK) and Vir Biotechnology, Inc. (VIR) announced Monday final, confirmatory results from the Phase 3 COMET-ICE trial demonstrating that sotrovimab, an investigational SARS-CoV-2 monoclonal antibody, significantly reduced the risk of hospitalization or death among high-risk adult outpatients with mild-to-moderate COVID-19.

Additionally, the U.S. National Institutes of Health (NIH) updated its COVID-19 treatment guidelines to recommend sotrovimab for non-hospitalized patients with mild-to-moderate COVID-19 who are at high risk of clinical progression and noted that sotrovimab appears to retain activity against current variants of concern and interest.

The primary efficacy analysis of all 1,057 patients in the COMET-ICE trial demonstrated a 79% reduction in hospitalization for more than 24 hours or death due to any cause, by Day 29 compared to placebo, meeting the primary endpoint of the trial.

The companies plan to submit the full COMET-ICE data set to a peer-reviewed journal for publication. They also plan to submit a Biologics License Application (BLA) to the U.S. FDA in the second half of 2021.

GSK and Vir are committed to ongoing evaluation of sotrovimab as the COVID-19 landscape continues to evolve at different rates across the globe and new variants of concern and interest emerge.

L Brands Files Form 10 With SEC For Separation Of Victoria’s Secret Business – Quick Facts

Fashion retailer L Brands, Inc. (LB) announced Monday the public filing of a Form 10 registration statement with the U.S. Securities and Exchange Commission in connection with the previously announced separation of the Victoria’s Secret business into an independent, public company.

The new company, named Victoria’s Secret & Co., will include Victoria’s Secret Lingerie, PINK and Victoria’s Secret Beauty.

As previously announced, the separation is currently expected to be completed in August 2021, subject to certain customary conditions, including final approval by the L Brands Board of Directors and effectiveness of the Form 10 registration statement.

On May 11, L Brands said its Board of Directors unanimously approved a plan to separate the company into two independent publicly traded companies. The company had initially revealed this strategy in May 2020.

MLB power rankings: Astros’ seven-game win streak lands them at No. 1

The Houston Astros have caught fire over the past month, winning 16 of 20 to confirm their status in the upper tier of World Series contenders. For that, they take over the top spot in USA TODAY Sports' weekly MLB power rankings from the Tampa Bay Rays, who lost six in a row over the past week.

It's no coincidence that Houston's surge coincided with the return of budding ace Framber Valdez, who didn't make his first start of the year until May 28 due to a finger injury. The 27-year-old lefty came into the year with high expectations following a great 2020 postseason (1.88 ERA in 24 innings) and picked up right where he left off, posting a 1.67 ERA in his first five starts of 2021.

The Astros play their next 10 games against the Orioles and Tigers so they certainly should be able to keep this run going for the next couple of weeks. But Houston will be without Alex Bregman who hit the IL with a strained quad that's going to keep him out "a while" according to manager Dusty Baker.