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• Pantheon celebrates positive report for Kodiak project
  An independent assessment by Netherland, Sewell & Associates...
  An independent assessment by Netherland, Sewell & Associates estimates that Pantheon Resources' Kodiak project on Alaska's North Slope holds 962.5 million barrels of mean average contingent resources, affirming both Pantheon's geological model and development strategy for leases across some 126,000 acres. Pantheon CEO Jay Cheatham hailed the evaluation as an "incredible achievement," while technical director Bob Rosenthal noted that "it is very rare to see certified resources of this size, particularly onshore and near to infrastructure."
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for October delivery...
  Benchmark U.S. crude oil for October delivery rose 47 cents to $81.63 a barrel Wednesday. Brent crude for October delivery rose 37 cents to $85.86 a barrel.
  
  Wholesale gasoline for September delivery rose 2 cents to $2.81 a gallon. September heating oil fell 11 cents to $3.10 a gallon. October natural gas rose 14 cents to $2.80 per 1,000 cubic feet.
  
  
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• U.S. stocks score fourth straight day of gains ahead of inflation report
  U.S. stocks closed higher Wednesday, booking gains for a fourth straight day as investors weighed signs...
  U.S. stocks closed higher Wednesday, booking gains for a fourth straight day as investors weighed signs of cooling in the labor market and revised data on economic growth in the second quarter. The Dow Jones Industrial Average DJIA ended 0.1% higher, while the S&P 500 Index SPX gained 0.4% and the Nasdaq Composite Index COMP rose 0.5%, according to preliminary data from FactSet.
  

  
  
  A U.S. employment report Wednesday from payroll processor ADP showed fewer private-sector jobs were added in August than economists forecast. Investors also digested revised data from the Bureau of Economic Analysis, which showed the U.S. economy grew at a 2.1% annual pace in the second quarter, down from an earlier estimated 2.4%. A reading from the Federal Reserve’s preferred inflation gauge will be released before the market opens on Thursday.
  
  
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• U.S. crude oil stocks down 10.6M barrels
  U.S. ...
  U.S. crude oil stockpiles fell by 10.6 million barrels last week, according to a government report on Wednesday that showed a third straight week of such inventory declines as refiners maxed out fuel processing to prepare for this year’s last hurrah in summer travel.
  
  The upcoming Labor Day on Sept 4 unofficially brings to a close U.S. road trips for this summer and the Energy Information Administration, or EIA, said in its Weekly Petroleum Status Report that refiners maintained an extraordinarily high 93.3% run rate on their capacity for the week ended Aug. 25.
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• API Reports Massive Draw in Crude Oil Inventories
  The American Petroleum Institute (API) has reported a massive...
  The American Petroleum Institute (API) has reported a massive 11.486-million-barrel draw in U.S. crude inventories, compared with the previous week's 2.418-million-barrel draw as the markets weigh China's economic activity against U.S. crude inventories.
  
  Analysts were expecting an inventory draw of 2.9 million barrels for the week. 
  
  Distillate inventories rose by 2.46 million barrels, after the 153,000 barrel draw in the week prior, and are already sitting somewhere around 16% below the five-year average for this time of year.
  
  Cushing inventories fell by 2.23 million barrels.
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