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• Florida Faces Fuel Squeeze as Barge Traffic Falls
  Florida is facing a potential squeeze on fuel supplies as shipments into the state slow just as demand...
  Florida is facing a potential squeeze on fuel supplies as shipments into the state slow just as demand is rising from consumers preparing for the threat of a major hurricane.  Tropical Storm Idalia is strengthening, threatening to strike Florida’s west coast Wednesday as a major hurricane.
  
  Demand is surging for gasoline as Floridians fill up for possible evacuations, according to Ned Bowman, executive director of the Florida Fuel Marketers Association. Diesel buying is also up, with the fuel needed for backup power generation.
  
  Meanwhile, barge traffic moving fuel from the US Gulf Coast into Florida is down as transport slows ahead of the storm. The state is mainly supplied via waterborne shipments from refiners in Texas and Louisiana. Ports of Tampa, Manatee, St. Petersburg and Fort Myers in Florida have halted incoming ships.
  
   
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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 27 cents to $80.10 a barrel Monday. Brent crude for October delivery fell 6 cents to $84.42 a barrel.
  
  Wholesale gasoline for September delivery fell 8 cents to $2.80 a gallon. September heating oil fell 11 cents to $3.20 a gallon. September natural gas rose 4 cents to $2.58 per 1,000 cubic feet.
  
  
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• Dow ends up 200 points, stocks score back-to-back gains
  U.S. stocks scored back-to-back gains on Monday in an attempt...
  U.S. stocks scored back-to-back gains on Monday in an attempt to claw back ground in a rough August for equities. The Dow Jones Industrial Average DJIA rose about 213 points, or 0.6%, ending near 34,560. The S&P 500 Index SPX closed 0.6% higher and the Nasdaq Composite Index COMP gained 0.8%.
  
  Investors kicked off the final week of August on an upbeat note, while largely focusing on Thursday’s inflation data and Friday’s monthly jobs report to help inform the Federal Reserve’s path on interest rates and its inflation fight. The 10-year Treasury yield TMUBMUSD10Y eased back to about 4.20% late Monday after its sharp rise a week ago to its highest level since 2007. The Dow still was off about 2.8% so far in August, while the S&P 500 index was 3.4% lower and the Nasdaq was down 4.5%.
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• Energy Sector Commentary for Monday
  The energy sector is off to a higher start, supported by strength...
  The energy sector is off to a higher start, supported by strength in the major equity futures which are kicking off the final trading week of August ahead of key inflation data this week.
  
  WTI and Brent crude oil futures are steady as investors keep an eye out for Tropical Storm Idalia and assess whether China’s measures to stimulate their economy is enough to fuel demand. Earlier today, China halved the stamp duty on stock trading in an attempt to boost investor confidence. Additionally, S&P Global reports that the nation has also issued new product export quotas in an effort to bolster industrial activity. Meanwhile, Tropical Storm Idalia is expected to strengthen into a hurricane today and reach the Florida coast on Wednesday which could pose a risk to oil and gas output in the U.S. Gulf. A stronger dollar and the prospect of further interest rate hikes are also dampening investor sentiment.
  
  Natural gas futures are higher on forecasts for warmer weather and pending supply disruptions from Australia LNG strikes which are set to begin on September 7th.
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• Depressed SPR raises hurricane response concerns
  Record sea surface temperatures have prompted the National Oceanic and Atmospheric Administration to...
  Record sea surface temperatures have prompted the National Oceanic and Atmospheric Administration to upgrade its 2023 Atlantic hurricane season outlook to above-normal levels. Commodity prices and Gulf of Mexico oil and gas production have generally been resilient to powerful storms, but a depleted Strategic Petroleum Reserve could hinder the government's response to supply and pricing disruptions, according to Enverus Intelligence Research.
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