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• ☕️What Else is Brewing Thursday Morning
  Trump’s 50% tariff on India kicked in. India’s...
  Trump’s 50% tariff on India kicked in. India’s exports to the US will now get hit with a steep import tax, after President Trump doubled the 25% tariff he initially imposed on Indian goods to punish the country for buying Russian oil amid the war in Ukraine. The heightened tariff, which took effect yesterday, is putting a strain on US-India relations and could be a big blow to India since the US is its biggest export destination. It shipped about $87.3 billion worth of goods to the US last year. However, some major exports are exempt for now, including smartphones—which is good news for Apple as it’s been shifting manufacturing there in an effort to decrease its reliance on China.
  
  Centers for Disease Control and Prevention Director Susan Monarez was fired yesterday after less than a month on the job, reportedly because she clashed with HHS Secretary RFK Jr. The firing came after Monarez refused to resign.
  
  Denmark summoned the top US diplomat there for talks, accusing the US of trying to drum up support in Greenland for the semiautonomous territory to secede from Denmark. President Trump has previously said he believes the US should control Greenland.
  
  Microsoft employees have been protesting the company’s contracts and partnerships with the Israeli military and government, prompting a crackdown by their employer.
  
  Kilmar Ábrego Garcia, a Salvadoran national whose mistaken deportation to El Salvador became a flashpoint in debates over President Trump’s immigration crackdown, is seeking asylum in the US, hoping to avoid deportation to Uganda.
  
  The Trump administration is taking over the management of Washington, DC’s Union Station as the federal government seeks to exert power over the capital. Separately, federal prosecutors failed to secure an indictment against a man who threw a sandwich at federal officers in protest of their presence in the city.
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• DAILY OIL PRICE: August 27, 2025
  Crude Oil: 64.15   (+0.90). Nymex MTD AVG: 64.1159....
  
  
  • Crude Oil: 64.15   (+0.90).
  
  
  • Nymex MTD AVG: 64.1159.
  
  
  • Natural Gas: 2.867   (+0.150).
  
  
  • Gasoline: 2.1489   (+0.0266).
  
  
  • Spreads: September/October (+0.56)     October/November (+0.46).
  
  
  • Plains WTI Posting: 60.63   (+0.90).
  
  

  
  
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• S&P 500 books fresh record close as stocks rise ahead of Nvidia earnings
  Stocks ended higher Wednesday, with the S&P 500 notching...

  Stocks ended higher Wednesday, with the S&P 500 notching a record close ahead of eagerly anticipated earnings from chip giant and artificial-intelligence bellwether Nvidia Corp., which makes up around 8% of the large-cap index.

  
  

  The S&P 500 rose 0.3% to finish near 6,481, eclipsing its previous record of 6,468.54, set on Aug. 14.

  
  

  The Dow Jones Industrial Average rose 147 points, or 0.4%, to finish near 45,565.11.

  
  

  The Nasdaq Composite ended 0.2% higher, near 21,590.13.

  
  

  Stocks continued to shrug off worries about the independence of the Federal Reserve, sparked by President Donald Trump's attempt to fire governor Lisa Cook, who is planning a legal challenge and has refused to step aside.

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• Black Hills, NorthWestern to tackle data center growth
  The Black Hills and NorthWestern Energy utilities have agreed to merge...
  The Black Hills and NorthWestern Energy utilities have agreed to merge into a single entity that will be better positioned to meet growing demand from data centers. The merged utility will serve eight states. NorthWestern already has pending agreements to serve large-scale data centers, including Quantica Infrastructure, Atlas Power and Sabey Data Centers, with potential loads reaching up to 900 megawatts.
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• Inside Chevron's shale pivot to cash over growth
  Chevron has deliberately shifted its US shale strategy from growth-at-all-costs...
  Chevron has deliberately shifted its US shale strategy from growth-at-all-costs to a plateau model that emphasizes efficiency, stable outputs and cash flow generation, according to Chevron President of Shale and Tight Bruce Niemeyer. The company is cutting rigs in the Permian Basin but continues to generate more oil with fewer crews, while its $53 billion Hess deal expands its portfolio to Guyana and the Bakken Shale. "Where we're headed next is we're going to get more out of the wells, but it's going to require a different kind of insight and the ability to connect things together, and AI is going to be a big part of that," Niemeyer said.
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