OklahomaMinerals.com

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• Oklahomans prepare for the long Memorial Day weekend travel
  The long Memorial Day weekend is approaching this week and the travel...
  The long Memorial Day weekend is approaching this week and the travel organization, AAA says 435,000 Oklahomans will be taking trips of 50 or more miles from home.
  
  The weekend travel period will be Thursday through Monday and AAA predicts the 435,000 Oklahomans will be among an expected 43.8 million to travel for the holiday. At least 38.4 million will be driving to their destinations.
  
  While travel by air and other modes of transportation will be up this year compared to Memorial Day 2023, the large majority – 87% of travelers – or over 380,000 Oklahoma residents – will take to the highways.
  
  Whereas most people drive for their family vacations and holiday trips, there are still expenses to plan for.
  
  Gas – The average gas price in Oklahoma is about $3.09/gallon, which has been trending about 50 cents less than the national average. After a rise in prices earlier this spring, prices have fallen and stayed fairly stable in recent weeks, putting Oklahoma’s average price 10 cents lower than a year ago.
  
  Source: OK Energy Today
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• ☕️What Else is Brewing Tuesday Morning
  Target will lower prices on 5,000 items to get shoppers shopping. The...
  Target will lower prices on 5,000 items to get shoppers shopping. The retailer said it has already cut prices on 1,500 popular purchases and will continue to slash more, including grocery staples, over the summer. The lowered prices come as consumers have been stretched thin by inflation, leading even some with big budgets to turn to Target’s competitor, Walmart. The move appears timed to Target announcing its quarterly earnings tomorrow, but it isn’t the only company trying to offer deals to win back wary spenders. McDonald’s, for example, has plans to roll out a $5 meal deal soon.
  
  FDIC Chair Martin Gruenberg will resign after an investigation found widespread sexual harassment at the agency. But he won’t step down until a successor is named, avoiding passing the reins to his Republican vice chair.
  
  The helicopter crash that killed Iranian President Ebrahim Raisi was caused by a “technical failure,” state media reported.
  
  Julian Assange, the founder of WikiLeaks, can appeal an order calling for his extradition to the US on espionage charges, a UK court ruled, further prolonging his legal battle.
  
  Ivan Boesky, who was convicted of insider trading and helped inspire the character Gordon Gekko, died yesterday at age 87.
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• Permian constraints inspire creative drilling strategies
  Permian Basin land constraints...
  Permian Basin land constraints are driving operators to develop innovative solutions for drilling longer laterals, Apache Corp CEO John Christmann said in an interview. "[...] I think you'll see more and more creative geometries as you're trying to get well bores in very productive landing zones, where you can get more exposure to length and so forth, and design your fracs to develop as much rock efficiently for as lowest amount of capital as possible," Christmann said.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for June delivery ...
  Benchmark U.S. crude oil for June delivery fell 26 cents to $79.80 per barrel Monday. Brent crude for July delivery fell 27 cents to $83.71 per barrel.
  
  Wholesale gasoline for June delivery fell 3 cents to $2.54 a gallon. June heating oil was unchanged at $2.49 a gallon. June natural gas rose 12 cents to $2.75 per 1,000 cubic feet.
  
  
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• S&P 500, Nasdaq score record highs, while Dow retreats from 40K-point milestone
  U.S. stocks ended mixed on Monday, as the Dow Jones Industrial Average...
  U.S. stocks ended mixed on Monday, as the Dow Jones Industrial Average retreated after ending last week above the 40,000 milestone.
  
  The Dow Jones ended about 0.5% lower. The S&P 500 finished 0.1% higher and the Nasdaq Composite went up 0.7% to its ninth-record close this year.
  
  
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