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• What else is brewing this Friday morning
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  • US auto safety regulators are expanding their investigation of Tesla’s Autopilot system after a series of new crashes involving first-responder vehicles.
  
  
  • President Biden wants to turn one of the country’s largest underwater canyons, 100 miles off of the New York coastline, into a national marine sanctuary.
  
  
  • A heat wave is going to bake the Southwest this weekend.
  
  
  • Stitch Fix is laying off 15% of salaried positions to save money in these tumultuous times.
  
  
  • The Grammys announced new awards, including “Songwriter of the Year” and “Best Score Soundtrack for Video Games and Other Interactive Media.”
  
  

  
  
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• Mortgage demand is at its lowest point in 22 years
  Over the last week, mortgage applications fell 7%, and ...
  Over the last week, mortgage applications fell 7%, and they're down 21% since last June.
  
  A traditional 30-year fixed mortgage saw average interest rates rise to 5.4% last week, compared to rates in the low 3% range around this time last year.
  
  The cost to buy a home has risen dramatically in 2022, which has resulted in a drop-off in demand.
  
  Or, more simply: there's been "a meltdown."
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• Closing Oil and Gas Prices for Thursday
  Benchmark U.S. crude oil for July delivery fell 60 cents to $121.51 a barrel Thursday. Brent crude for...
  Benchmark U.S. crude oil for July delivery fell 60 cents to $121.51 a barrel Thursday. Brent crude for August delivery fell 51 cents to $123.07 a barrel.
  
  Wholesale gasoline for July delivery rose 6 cents to $4.28 a gallon. July heating oil rose 9 cents to $4.40 a gallon. July natural gas rose 26 cents to $8.96 per 1,000 cubic feet.
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• US natural gas storage rises 97 Bcf to 1.999 Tcf as NYMEX futures rebound
  The US Energy Information Administration on June 9 reported a 97 Bcf injection to US inventories for...
  The US Energy Information Administration on June 9 reported a 97 Bcf injection to US inventories for the week ended June 3. The addition to stocks was closely aligned with S&P Global Commodity Insights' storage survey result, which called for an injection of 96 Bcf. The weekly build was also much closer to historical averages, just barely undershooting the year-ago injection of 98 Bcf and the five-year average of 100 Bcf in the corresponding week, data from the EIA showed.
  
  As a result, the US working gas inventories climbed to 1.999 Tcf, while the shortfall to 2021 widened to 398 Bcf, leaving stocks about 17% below the year-ago level of 2.397 Tcf. The inventory deficit to the prior five-year average also expanded to its widest yet this season, pushing stocks to 340 Bcf, or almost 15%, below the historical average of 2.339 Tcf.
  
  Immediately following the EIA storage report's release, the Henry Hub July contract jumped about 25 cents to $8.45/MMBtu, followed by continued price gains throughout the morning and early afternoon that left the prompt-month contract just shy of $9/MMBtu at settlement, data from CME Group showed.
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• Europe Gas Prices Jump on US LNG Plant Outage
  British and Dutch wholesale gas prices rose sharply on Thursday morning, driven predominately...
  British and Dutch wholesale gas prices rose sharply on Thursday morning, driven predominately by news of an outage at the Freeport LNG plant in the United States, a key supply point for European customers.
  
  In the British gas market, the contract for next day delivery was up by 9 pence to 95 pence per therm by 0843 GMT, while the contract for within-day delivery rose by 17 pence to 105 p/therm.  The winter contract was up by 17.21 pence to 250 p/therm.
  
  In the Dutch gas market, the day-ahead contract jumped by 10.65 euros to 87.50 euros per megawatt-hour (MWh), while the July contract rose by 6.70 euros to 85.50 euros/MWh.
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