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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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NYT: Weather Update
A ...
A marine heat wave in the Gulf of Mexico is pushing water temperatures into the 90s, threatening coral and other sea life.

Arizona had its 11th straight day of 110-degree temperatures. The heat is forecast to continue.

Heavy rains flooded the streets of Vermont’s capital, Montpellier, but some of the water has started to recede.

National Weather Service: The number of 100-degree days in 2023 in Midland hit 20 on Tuesday, and that number will grow.
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China GDP Declining
The cost of things in China is at risk of decreasing, which is a nightmare scenario for the rest...
The cost of things in China is at risk of decreasing, which is a nightmare scenario for the rest of us. The central bank has cut interest rates to initiate growth as China hopes to avoid deflation. But if that fails, the global economy could be in trouble.
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Annual U.S. retail inflation rate in June was lowest in more than two years
The numbers: U.S. consumer prices rose a modest 0.2% in June and the rate of inflation...
The numbers: U.S. consumer prices rose a modest 0.2% in June and the rate of inflation slowed to the lowest level since 2021, but recent progress might not be enough to stop the Federal Reserve from raising interest rates soon.

The increase in consumer prices last month was smaller than the 0.3% forecast of economists polled by the Wall Street Journal.

The yearly rate of inflation decelerated to 3% from 4% in the prior month. The last time inflation was this low was in March 2021.
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API Reports Build in Crude Oil Inventories
The American Petroleum Institute (API) reported a 3.026 million...
The American Petroleum Institute (API) reported a 3.026 million barrel build in United States crude oil inventories after falling by 4.382 million barrels in the week prior. It is believed that analysts were expecting a much smaller build of 200,000 barrels in U.S. crude-oil inventories.

Distillate inventories rose by 2.908 million barrels, on top of the 604,000 barrel build in the week prior.

Inventories in Cushing, Oklahoma, fell by 2.150 barrels, after rising 289,000 barrels in the previous week.
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Closing Oil & Gas Prices for Tuesday
Benchmark U.S. crude oil for August delivery...
Benchmark U.S. crude oil for August delivery rose $1.84 to $74.83 a barrel Tuesday. Brent crude for September delivery rose $1.71 to $79.40 a barrel.

Wholesale gasoline for August delivery rose 5 cents $2.62 a gallon. August heating oil rose 3 cents to $2.58 a gallon. August natural gas rose 6 cents to $2.73 per 1,000 cubic feet.

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