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• Friday Morning: What Else is Brewing
  Stories of interest to start your Friday morning. ...
  Stories of interest to start your Friday morning.
  

  
  
  • Kevin Spacey was charged with four counts of sexual assault against three men in the UK.
  
  
  • Carl Icahn’s proposal to add two directors to the McDonald’s board in a push for more ethical sourcing of pork received only 1% of investor votes.
  
  
  • The chipmaker Broadcom agreed to acquire VMware for $61 billion in one of the biggest tech deals ever.
  
  
  • Justin Timberlake sold his music catalog to a Blackstone-backed investment fund for up to $100 million.
  
  
  • More than half of the largest cities in the US lost population during the pandemic, per new US census data
  
  

  
  
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• Rystad: Oil And Gas Investment To Rise 20% In 2022
  Global oil and gas investment is set to rise by 20% this year, according to ...
  Global oil and gas investment is set to rise by 20% this year, according to Rystad Energy, with growth driven by soaring oil prices and big money flowing into projects in Brazil, Guyana, West Africa and Australia, the Houston Chronicle reports.
  
  Earlier this year, Rystad had forecast 8% growth for 2022; however, with Brent consistently topping $110 and WTI flirting with the same levels, we are now witnessing the highest growth rate forecasts since 2008.
  
  In the United States, investment in shale is set to increase by 35%, with the Permian basin leading the way, Rystad said, while investment in deepwater offshore drilling is set to rise by 30%.
  
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• Chevron to Consolidate Upstream, Midstream, Downstream Units
  Chevron Corp. said on May 26 that it will consolidate its upstream, midstream, and downstream...
  Chevron Corp. said on May 26 that it will consolidate its upstream, midstream, and downstream segments as part of an “enterprise-wide transformation” launched by the oil major in 2020.
  
  “We’ve made significant progress over the last two years, and these changes position us to further enhance execution across all aspects of our business as the energy system evolves,” Mike Wirth, Chevron’s chairman, and CEO, commented in a company release.
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• June Natural Gas Futures Forge Rally but Fizzle to Finish Final Day as Front Month
  The June Nymex natural gas futures contract rallied toward its expiration on Thursday,...
  The June Nymex natural gas futures contract rallied toward its expiration on Thursday, pushing above $9.401 in intraday trading and reaching the highest level since 2008. Even as traders digested a weak storage print and renewed concerns about a supply crunch, many took profits in the final hour of trading that ultimately sent futures into the red. June settled at $8.908/MMBtu on Thursday, down 6.3 cents day/day.
  
  July, which takes over as the front-month with trading Friday, fell 9.8 cents to $8.895.
  
  After spiking nearly $1.00 over the two prior days, NGI’s Spot Gas National Avg. shed 25.0 cents to $8.650.
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• Oil rises to 2-month high on tight supplies, EU seeks Russian crude ban
  NEW YORK May 26 Reuters Oil prices climbed about 3% to a two-month high on Thursday on...

  NEW YORK May 26 Reuters Oil prices climbed about 3% to a two-month high on Thursday on signs of tight supply ahead of U.S. summer driving season, as the European Union (EU) wrangled with Hungary over plans to ban crude imports from Russia over its invasion of Ukraine.

  
  

  Traders also noted oil prices followed a rise in equities and some weakening of the U.S. dollar against a basket of currencies, which makes oil cheaper when purchased in other currencies.

  
  

  Brent futures rose $3.37, or 3.0%, to settle at $117.40 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $3.76, or 3.4%, to settle at $114.09.

  
  

  After rising for six days in a row, Brent closed at its highest since March 25. WTI settled at its highest since May 16.

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