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Energy, Oil, Financing, Banks, Wall Street, Lending, Fossil Fuel

Energy, Oil, Financing, Banks, Wall Street, Lending, Fossil Fuel

Energy Lending Shrinks as Upstream Spending Declines

Presidio, SPAC, Merger, Panhandle

Presidio, SPAC, Merger, Panhandle

Presidio Targets Public Debut in $660M SPAC Deal

Chevron, Exxon, Europe, Oil, Production

Chevron, Exxon, Europe, Oil, Production

Exxon, Chevron Raise Production as Europe Falls Behind

At least four tankers discharged millions of barrels of Russian crude at Indian refineries over the weekend, even as pressure ramps up by USA

At least four tankers discharged millions of barrels of Russian crude at Indian refineries over the weekend, even as pressure ramps up by USA

Tankers Deliver Russian Crude to India Despite USA and EU Pressure

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Stocks end off session lows, attention turns to June jobs report
Stocks ended with a loss, but off session lows, on Thursday after...
Stocks ended with a loss, but off session lows, on Thursday after a large jump in an estimate of private-sector jobs growth sent Treasury yields soaring and underlined worries about how high the Federal Reserve will ultimately need to raise interest rates.

The Dow Jones Industrial Average around 366 points, or 1.1%, to close near 33,922, according to preliminary data, while the S&P 500 and Nasdaq Composite each shed 0.8%.

ADP on Thursday morning said the private sector added 497,000 jobs in June. Economists polled by the Wall Street Journal had forecast a gain of 220,000 private-sector jobs. The ADP data typically isn’t a big market mover given that it’s not a reliable guide to official jobs figures, but the jump in the June data appeared to be too big for traders to ignore.

The Labor Department will release its closely watched June jobs report at 8:30 a.m. Eastern on Friday.
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Energy Sector Commentary for Thursday
Energy stocks and broader equities...
Energy stocks and broader equities are trading firmly in negative territory, with losses in futures accelerating following robust private sector payrolls growth in June. ADP reported new job openings grew by 497,000 in June, more than double expectations. While this illustrates a strong labor market, it increases the likelihood of further rate increases from the Federal Reserve in the near term.

Oil prices were little changed on Thursday as the market digested tighter crude supply alongside fears of a global economic slowdown. On the supply side, top oil exporters Saudi Arabia and Russia announced a fresh round of output cuts for August. The total cuts now stand at more than 5 million bpd, equating to 5% of global oil output.

Natural gas futures are lower by a penny on higher gas output, which overshadowed forecasts for hotter weather.
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Mexican Drivers Pay More for Gasoline than Americans
American drivers have it good compared to their Mexican counterparts who on...
American drivers have it good compared to their Mexican counterparts who on average pay 135% more for gasoline, according to data compiled by Hart Energy.

The average price of regular gasoline in Mexico was $4.82/gallon (84.30 pesos per gallon) in June, Mexico’s consumer protection agency PROFECO revealed July 3 on its website. This compares to around $4.14/gallon a year ago before adjusting for inflation.
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☕️What Else is Brewing Thursday Morning
Israel pulled out of the West Bank city of Jenin after a two-day, large-scale military ...
Israel pulled out of the West Bank city of Jenin after a two-day, large-scale military operation that killed 12 Palestinians.

Jenny Craig, the weight loss company that recently shut down after 40 years in business, will be revived—at least online—by former rival Nutrisystems.

Just Stop Oil, the anti-fossil-fuel group, disrupted Wimbledon twice by throwing orange confetti and jigsaw puzzle pieces onto a court.

Allison Mack, the Smallville actress who pleaded guilty to crimes stemming from her involvement with the NXIVM cult, has been released from prison early.

Coco Lee died by suicide at age 48. The pop star famously performed a song from the Crouching Tiger, Hidden Dragon soundtrack at the 2001 Oscars.

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UPS contract talks fell apart with a strike on the horizon
America’s largest private-sector package delivery service and the Teamsters Union representing 340,000...
America’s largest private-sector package delivery service and the Teamsters Union representing 340,000 of its workers accused each other of walking away from negotiations over pay yesterday. The union plans to go on strike if a deal isn’t reached before the current contract expires on July 31, a move that could hobble supply chains and weigh on the US economy. Rivals like FedEx might benefit from picking up extra business, but they would likely struggle to take on all the 20 million packages that UPS handles daily.
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