Elon Musk visited the Pentagon. Musk’s trip to the...
Elon Musk visited the Pentagon. Musk’s trip to the Pentagon, where he met with Defense Secretary Pete Hegseth, stirred controversy after the New York Times reported that Musk would be briefed on top secret plans for how the US would handle a potential war with China. Such information would give Musk an edge in business since his companies hold defense contracts and operate in China. However, President Trump, Musk, and Hegseth all forcefully denied the claims on social media, with the president saying “China will not even be mentioned or discussed.” But China was one of the topics covered in the meeting, according to the Wall Street Journal, though Trump reiterated afterwards that he would not show Musk “secret China war plans,” citing Musk’s business in China.
StubHub filed for an IPO on the New York Stock Exchange.
President Trump rescinded an order targeting prestigious international law firm Paul Weiss after it agreed to provide $40 million of free legal work to support the administration’s policies and to scrap its DEI program.
Elon Musk told Tesla employees “hang onto your stock,” at a surprise all-hands meeting meant to reassure his staff on Thursday night.
The judge overseeing the high stakes case over the government’s use of the Alien Enemies Act to deport planes full of alleged Venezuelan gang members called the implications of the government’s actions “incredibly troublesome and problematic and concerning” and pressed the administration for more details.
TikTok has removed the “chubby filter,” which altered images to make the bodies of people in them look larger following backlash towards people sharing videos using it.
US oil and gas rigs rise for first time in three weeks | Oklahoma +2
U.S. energy firms added oil and natural gas rigs for...
U.S. energy firms added oil and natural gas rigs for the first time in three weeks, according to Energy Services firm Baker Hughes, in its closely followed report on Friday.
The total number of oil and gas rigs, an early indicator of future output, rose by one to 593 in the week ending March 21.
Despite this week's rig increase, Baker Hughes said the total count was still down 31 rigs or 5% below this time last year.
Baker Hughes said oil rigs fell by one to 486 this week, while gas rigs rose by two to 102.
In Oklahoma, energy firms added two rigs this week, bringing the total rig count up to 53, the highest since May 2023.
The oil and gas rig count declined by about 5% in 2024 and 20% in 2023 as lower U.S. oil and gas prices over the past couple of years prompted energy firms to focus more on boosting shareholder returns and paying down debt rather than increasing output.
Oil falls but holds onto a weekly rise against a 'murky' supply and demand backdrop
Natural gas prices pared their loss for the week, and...
Natural gas prices pared their loss for the week, and oil futures headed lower, but they looked to notch a gain as traders weighed concerns about the global economy and energy demand against support from risks to crude supplies in the Middle East.
-- West Texas Intermediate crude for May delivery fell by 15 cents, or 0.2%, to $67.92 a barrel on the New York Mercantile Exchange, with prices for the contract trading 1.5% higher for the week, FactSet data show.
-- May Brent crude fell by 32 cents, or 0.4%, to $71.68 a barrel on ICE Futures Europe, up 1.6% for the week.
-- April gasoline fell by 0.4%to $2.1832 a gallon, poised for a weekly rise of 1.6%, while April heating oil was down 0.2%, at $2.2488 a gallon - up 3.8% for the week.
-- Natural gas for April delivery rose 1.4% to $4.03 per million British thermal units, paring its weekly loss of 1.8%.
U.S. stocks end higher after late-day rally, as S&P 500 snaps 4-week losing skid
The U.S. stock market closed higher Friday, with the...
The U.S. stock market closed higher Friday, with the S&P 500 eking out a weekly gain to snap four straight weeks of losses.
According to preliminary FactSet data, the Dow Jones Industrial Average finished up 0.1%, the S&P 500 rose 0.1%, and the technology-heavy Nasdaq Composite rose 0.4%.
It was a choppy trading session, and stocks struggled to build on Wednesday's rally, which was fueled by the Federal Reserve’s policy meeting, which ended with its benchmark interest rate unchanged.
The preliminary data show that the S&P 500 gained 0.4% for the week, the Dow climbed 1.2%, and the Nasdaq advanced 0.2%.
EIA Natural Gas Storage Build Of +9 Bcf Exceeds Estimates
The EIA released its Weekly Natural Gas Storage Report on Thursday. The...
The EIA released its Weekly Natural Gas Storage Report on Thursday. The report indicated that working gas in storage increased by +9 Bcf from the previous week, compared to analysts forecast of +3 Bcf. In the previous week, working gas in storage decreased by -62 Bcf.
At current levels, stocks are -624 Bcf less than last year and -190 Bcf below the five-year average for this time of the year. Low storage levels provided material support to natural gas prices in recent months.
