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• Oil prices to hit $91 by year-end, UBS says
  Oil is poised to rally beyond $90 per barrel by the end of the...
  Oil is poised to rally beyond $90 per barrel by the end of the year amid record demand and tightening supply, according to UBS strategists.
  
  "We still see scope for global oil prices to rally,” said a recent UBS note to investors. “We now expect Brent to hit USD 95/bbl and the US WTI benchmark to rise to USD 91/bbl by end-December, up from the current USD 90/bbl and USD 85/bbl, respectively."
  
  Brent International (BZ=F) prices stand just below $85 per barrel, about 3% off year-to-date highs reached earlier in August. West Texas Intermediate (CL=F) is hovering above $80 per barrel.
  
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• Ring Energy Closes Permian Basin Assets Acquisition
  Ring Energy Inc. has completed its previously...
  Ring Energy Inc. has completed its previously announced Central Basin Platform acquisition of Founders Oil & Gas IV LLC assets for about $75 million in cash, according to an Aug. 16 news release.
  
  The deal—which was announced in July—adds Founders’ operations in the Permian Basin’s Ector County, Texas, and is focused on the development of approximately 3,600 net acres. Ring said the assets are similar to Ring's CBP assets acquired in 2022 from Stronghold Energy Operating II LLC.
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• Feds OK EQT Corp.’s $5.2B Tug Hill Deal, Clearing Way for Close
  EQT Corp.’s $5.2 billion acquisition of ...
  EQT Corp.’s $5.2 billion acquisition of Tug Hill Inc.—long delayed due to regulatory scrutiny—has finally received approval to proceed.
  
  The U.S. Federal Trade Commission resolved its review of EQT’s agreement to acquire Tug Hill’s upstream assets and XcL Midstream’s gathering and processing assets in the Appalachia region, EQT announced in an Aug. 16 news release.
  
  EQT said it anticipates closing the deal within the next seven business days.
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• ☕️What Else is Brewing Thursday Morning
  Barbie is now Warner Bros.’s highest-grossing domestic release ever. It earned more than...
  Barbie is now Warner Bros.’s highest-grossing domestic release ever. It earned more than $537 million, edging out Christopher Nolan’s Batman flick The Dark Knight for the top spot.
  
  A Kansas newspaper will get back all the equipment that was seized from it during a controversial police raid last week, because the local prosecutor withdrew the search warrant.
  
  Apple has reversed its decision to move the “end call” button and has put it back in the middle of the screen in the latest public version of its next iOS.
  
  England will square off against Spain in the Women’s World Cup final on Sunday after beating host country Australia. Meanwhile, the US coach has resigned after the team underperformed in the tournament.
  
  
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• Oil prices hit two-week low on China fears, hawkish Fed outlook
  Oil prices fell to a two-week low in Asian trade on Thursday, extending recent losses...
  Oil prices fell to a two-week low in Asian trade on Thursday, extending recent losses as markets fretted over an economic slowdown in China, while strength in the dollar also weighed amid continued signs of a hawkish Federal Reserve.
  
  A bigger-than-expected draw in U.S. inventories largely failed to pull oil prices from a three-day tailspin, as Energy Information Administration (EIA) data also showed that U.S. production came near pre-COVID highs in recent weeks.
  
  Brent oil futures fell 0.2% to $83.13 a barrel, while West Texas Intermediate crude futures fell 0.4% to $79.03 a barrel by 21:04 ET (01:04 GMT). Both contracts were at their weakest level in two weeks and were now down for a fourth consecutive session.
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