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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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• Dow finishes up 300 points as stocks rally ahead of inflation report
  Stocks scored back-to-back gains on Tuesday as investors waited on an inflation...

  Stocks scored back-to-back gains on Tuesday as investors waited on an inflation update due Wednesday from the June consumer-price index. The Dow Jones Industrial Average posted a near 317-point gain, advancing 0.9%, to end near 34,260, according to preliminary FactSet data. That marks its biggest daily percentage gain since June 15, according to FactSet. The S&P 500 index closed up 0.7%, while the Nasdaq Composite Index gained 0.6%.

  
  

  Stocks have been on the upswing ahead of a key inflation reading for June, with the consumer price index expected to show further progress in retreat from its peak above 9% last summer. The Federal Reserve has indicated it likely has a few more rate hikes on tap this year to help bring inflation down toward its 2% annual target. Investors also will be tuning into second-quarter earnings, which kick off in earnest later in the week with results from some of the nation’s biggest banks.

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• Oil gains ground as output cuts, demand buoy prices
  Oil prices posted a modest rise during trading earlier today as markets digested the news that top oil...
  Oil prices posted a modest rise during trading earlier today as markets digested the news that top oil exporting nations like Saudi Arabia and Russia are to cut output and hopes grow for higher demand from developing nations in the second half of the year. West Texas Intermediate crude was up 0.7% at $73.47 a barrel while Brent crude futures rose by 0.6% to $78.15 a barrel.
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• From Twitter: ExxonMobil Signals Profit Drop, Cites Lower Prices
  @exxonmobil...

  
  

  @exxonmobil signals profit drop, cites lower prices
  Operating earnings dropped to about $7.8 billion, when surging oil and gas prices after Russia's invasion of Ukraine boosted global energy results to record levels.
  Read more on https://t.co/F1Gjv1sWnn#OGNews #profit pic.twitter.com/FiznawwAi1

  
  — OGN - Media for the Energy Future (@OGN_Online) July 11, 2023

  
  
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