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• Chevron Moving HQ, CEO from California to Houston
  Chevron announced on Aug. 2 that it will move...
  
  
  Chevron announced on Aug. 2 that it will move its headquarters and top leadership from its longtime home in California to Houston, Texas’ unofficial energy capital of the world. The move will be completed by the end of the year.
  
  Chevron Chairman and CEO Mike Wirth and Vice Chairman Mark Nelson will join the headquarters in making the move. They will co-locate with much of Chevron’s other top leadership, which is already based out of its large Houston hub.
  
  
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• ☕️What Else is Brewing Friday Morning
  Evan Gershkovich was freed in a historic prisoner swap. The...
  Evan Gershkovich was freed in a historic prisoner swap. The Wall Street Journal reporter, who was wrongfully detained in Russia last year on bogus espionage charges, was released by the country yesterday as part of what the WSJ called “the largest and most complex East-West prisoner swap since the Cold War.” The release of Gershkovich and more than a dozen others held by Russia, including former US Marine Paul Whelan, came after months of negotiations between the US, Russia, and multiple other countries.
  
  Intel announced it’s cutting 15,000 jobs, or 15% of its workforce, as it falls behind in chip manufacturing.
  
  Uber partnered with Chinese EV maker BYD to adopt 100,000 vehicles for its ride-hailing platforms in Europe and Latin America.
  
  Israel confirmed that it killed Hamas’s top military commander in an airstrike last month. Meanwhile, the New York Times reported that a bomb planted and hidden for months in an Iran complex is what killed Hamas political leader Ismail Haniyeh this week.
  
  The Biden administration proposed a new rule that would ban airlines from charging parents more to sit with their kids on flights.
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• Dow falls nearly 500 points as recession fears reemerge
  Spooked by lackluster economic data ahead of key earnings and a benchmark...
  Spooked by lackluster economic data ahead of key earnings and a benchmark U.S. jobs report, major indexes plunged Thursday and yields on the 10-year Treasury note (TNX) dropped below 4% for the first time in six months.
  
  Here's where the major benchmarks ended:
  
  The S&P 500^® (SPX) index fell 75.62 points (–1.4%) to 5,446.68; the Dow Jones Industrial Average^® ($DJI) dropped 494.82 points (–1.2%) to 40,347.97; the Nasdaq Composite^®($COMP) plunged 405.26 points (–2.3%) to 17,194.15. 
  
  The 10-year Treasury note yield dropped sharply to just below 3.98%, the lowest close since February 2.
  
  The Cboe Volatility Index^® (VIX) climbed to 18.59, the highest close since April.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for September delivery ...
  Benchmark U.S. crude oil for September delivery fell $1.60 to $76.31 per barrel Thursday. Brent crude for October delivery fell $1.32 to $79.52 per barrel.
  
  Wholesale gasoline for September delivery fell 4 cents to $2.40 a gallon. September heating oil fell 3 cents to $2.41 a gallon. September natural gas fell 7 cents to $1.97 per 1,000 cubic feet.
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• EIA: US crude inventories down 3.4 million bbl
  According to data from the US Energy Information Administration, US crude...
  According to data from the US Energy Information Administration, US crude oil inventories for the week ended July 26, excluding the Strategic Petroleum Reserve, decreased by 3.4 million bbl from the previous week.
  
  The EIA report indicated that US crude oil inventories are about 4% below the 5-year average for this time of year at 433.0 million bbl.
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