Benchmark U.S. crude oil for September delivery ...
Benchmark U.S. crude oil for September delivery rose $3.18to $77.91 per barrel Wednesday. Brent crude for September delivery rose $2.09 to $80.72 per barrel.
Wholesale gasoline for August delivery rose 9 cents to $2.48 a gallon. August heating oilrose 8 cents to $2.42 a gallon. September natural gas fell 9 cents to $2.04 per 1,000 cubic feet.
Stocks end sharply higher as Fed signals rate cut as early as September
Powell said some policymakers...
Powell said some policymakers had argued for cutting Wednesday, though the rate-setting Federal Open Market Committee ultimately voted unanimously to leave rates unchanged.
The Dow Jones Industrial Average finished with a gain of 99.46 points, or 0.2%, at 40,842.79, after rising 455.30 points at its session high during Powell's news conference. It finished the month of July up by 1,723.93 points, or 4.4%, for its best performance since December 2023.
The S&P 500 closed with a gain of 85.86 points, or 1.6%, at 5,522.30.
The Nasdaq Composite jumped 451.98 points, or 2.6%, to end at 17,599.40.
ArcLight Forms Renewables Management Team, Acquires Texas Wind Farm
Infrastructure investment firm ArcLight is...
Infrastructure investment firm ArcLight is doling out $500 million in capital to form SkyVest Renewables, which will operate and optimize renewable assets, according to a July 29 news release.
The assets include a 160-megawatt wind farm in the Midland Basin in Texas, which ArcLight also said it acquired.
The two are targeting operating utility-scale solar and wind assets in North America.
As NatGas Drops Below $2, Chesapeake is Prepared to Curtail Volumes Again
The prompt-month natural gas price dipped below...
The prompt-month natural gas price dipped below $2/MMBtu during No. 2 U.S. gas producer Chesapeake Energy’s second-quarter earnings call on July 30. According to CME Group data, the dive was from as much as $3.20 on June 11 for delivery on Sept. 1.
In addition to curtailing production this past spring in response to low gas futures, “we … are prepared to do so again as necessary in the fall,” Nick Dell’Osso, Chesapeake president and CEO, told investors and analysts in the call.
COO Josh Viets added that output has been pared 17% since this past spring. “That equates to a little over 0.5 Bcf/d … coming offline from our operated production.”
Iran’s Revolutionary Guard said Hamas’s political leader, Ismail...
Iran’s Revolutionary Guard said Hamas’s political leader, Ismail Haniyeh, was killed in Tehran after attending the inauguration ceremony of the country’s new president. Israel did not comment on his death, but it has pledged to kill Hamas leaders following the Oct. 7 attack and has carried out assassinations of top targets in Iran in recent years. Hours before Haniyeh’s assassination, the Israeli military claimed it killed a senior Hezbollah commander in a “targeted strike” in a Beirut suburb. Going forward, the focus will be on how Hamas and Hezbollah respond to these strikes and their impact on ongoing Gaza cease-fire negotiations.
