Underground stocks finished the last full week of July at 3,249 Bcf, or 16% above the five-year average, according to the U.S. Energy Information Administration (EIA). There are 14 more weekly government storage reports left for this injection season, including Thursday’s EIA report, for which NGI has modeled a 30 Bcf build.
“On the bull side, you can see that injections have been lean,” veteran gas analyst Thomas Saal said. Market jitters usually appear when inventory scenarios approach the 4,000 Bcf level. “At the rate we're going now, if we put 20 Bcf to 30 Bcf in weekly for the rest of the season, we're not going to have to worry about it.”
Trump making the most of Harris' anti-fracking past
The battle for Pennsylvania...
The battle for Pennsylvania is heating up as former President Donald Trump pounces on Vice President Kamala Harris's past anti-fracking stance to win over the state's voters. While Harris has distanced herself from her previous position to sway energy sector voters, Trump continues to cast doubt on her sincerity, warning, "Remember, a politician always goes back to what their original thought was."
Enbridge to grow Texas oil, gas pipeline capacities
Enbridge will move forward with a project to expand its Gray Oak crude...
Enbridge will move forward with a project to expand its Gray Oak crude oil pipeline in Texas by 120,000 barrels per day, with completion set for 2026, after receiving sufficient shipper interest during a recent open season. The company also plans to build the 2.5-Bcf/d Blackcomb natural gas pipeline from the Permian Basin to the US Gulf Coast and increase storage capacity at its Corpus Christi export facility by 2 million barrels.
🌀Tropical Storm Debby is making its way up the East Coast
The storm, which made landfall in Florida as a Category 1 hurricane earlier...
The storm, which made landfall in Florida as a Category 1 hurricane earlier this week before hitting Georgia and the Carolinas yesterday, has killed at least five people and flooded parts of the Southeast. More than 110,000 Floridians were still without power as of Tuesday, the Washington Post reported. Debby is now expected to crawl north, putting major cities like New York and Philadelphia on watch for potential flash flooding.
A lot of you bought the dip. One day after the S&P...
A lot of you bought the dip. One day after the S&P 500’s worst session since 2022, stocks got off the schneid and partially rebounded, putting fears of a recession on hold. Tuesday started well, with Japan’s Nikkei—which had cratered on Monday—logging its best day since 2008, giving US investors some positive mojo. From there, US stocks, including Magnificent Seven stalwarts like Microsoft and Nvidia, and both major cryptocurrencies, moved up. “Get used to the volatility,” one Bank of America analyst told Bloomberg. The S&P 500 is still up over 10% this year despite this week’s turbulence.
The EPA issued a rare emergency order to ban use of a weedkiller that’s linked to serious health risks for unborn babies.
Google launched its new set-top box, the $100 TV Streamer, and announced it is discontinuing the smaller, cheaper Chromecast.
Microsoft joined CrowdStrike in firing back at Delta, saying the airline turned down its offers to help with the fallout of last month’s massive IT outage.
Axios, the news site known for its brevity, laid off 10% of its staff, citing “changes in the media business.”
