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Presidio, SPAC, Merger, Panhandle

Presidio, SPAC, Merger, Panhandle

Presidio Targets Public Debut in $660M SPAC Deal

Chevron, Exxon, Europe, Oil, Production

Chevron, Exxon, Europe, Oil, Production

Exxon, Chevron Raise Production as Europe Falls Behind

At least four tankers discharged millions of barrels of Russian crude at Indian refineries over the weekend, even as pressure ramps up by USA

At least four tankers discharged millions of barrels of Russian crude at Indian refineries over the weekend, even as pressure ramps up by USA

Tankers Deliver Russian Crude to India Despite USA and EU Pressure

Armstrong, Alaska, Oil, Energy, Conventional

Armstrong, Alaska, Oil, Energy, Conventional

Bill Armstrong Proves Alaska Oil Finds Aren’t Over

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☕️What Else is Brewing
Harris and Trump gear up to debate. Vice President...
Harris and Trump gear up to debate. Vice President Kamala Harris and former President Donald Trump will take the stage at 9pm Eastern tonight in Philadelphia for a debate. It will be hosted by ABC News and air live on several networks, while also streaming on ABC News Live, Disney+, and Hulu—potentially giving the candidates their biggest audience in the lead-up to Election Day.

Big Lots, the 1,300+ store discount chain, has filed for bankruptcy with a plan to sell itself to private equity firm Nexus Capital Management for ~$760 million and a commitment to keep offering “extreme bargains.”

The new CEO of Starbucks, Brian Niccol, formerly of Chipotle, is now officially in charge of the coffee chain.

Harvey Weinstein, the former Miramax executive who’s facing a new trial for rape, had emergency heart surgery.

Former fashion executive Peter Nygard was sentenced to 11 years in prison in Canada for sexual assault.

A police officer who detained Miami Dolphins star Tyreek Hill before Sunday’s game has been placed on leave. Body cam footage released yesterday shows an altercation during a traffic stop in which officers pulled the NFL player out of his car, raising questions about why the situation quickly escalated.
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U.S. Crude Oil Rebounds More Than 1%
U.S. crude oil futures rebounded more than 1% on Monday after posting...
U.S. crude oil futures rebounded more than 1% on Monday after posting the worst week since October 2023. The U.S. benchmark, West Texas Intermediate, and the Brent global benchmark have fallen more than 15% in the third quarter.

“We have lost 400 million barrels of financial demand since early July,” Daan Struyven, oil research head at Goldman Sachs, said on CNBC’s “Squawk Box Asia” on Monday. “That is basically 7 million barrels per day of financial demand that we lost.”

Here are Monday’s closing energy prices:
- West Texas Intermediate October contract: $68.71 per barrel, up $1.04, or 1.54%. Year to date, U.S. crude oil has fallen 4%.
- Brent November contract: $71.84 per barrel, up 78 cents, or 1.1%. Year to date, the global benchmark has pulled back 6.8%.
- RBOB Gasoline October contract: $1.92 per gallon, up more than 2 cents, or 1.3%. Year to date, gasoline has declined 8.7%.
- Natural Gas October contract: $2.17 per thousand cubic feet, down more than 10 cents, or 4.6%. Year to date, gas has lost 13.7%.
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U.S. stocks end sharply higher as Dow rebounds from worst week since March 2023
U.S. stocks ended sharply higher on Monday as equities...
U.S. stocks ended sharply higher on Monday as equities bounced back from the worst week for the S&P 500 and the Dow Jones Industrial Average since March 2023.

The Dow Jones Industrial Average finished up roughly 1.2%, according to preliminary closing data from FactSet;

The S&P 500 gained 1.2%, snapping a four-day losing streak;

The Nasdaq Composite ended 1.2% higher.
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Tropical system could be hurricane by Wednesday, headed toward Louisiana and Texas
A potential tropical storm forming in the Gulf of Mexico could be a low-end...
A potential tropical storm forming in the Gulf of Mexico could be a low-end Category 1 hurricane by Wednesday and headed toward a landfall on the Upper Texas or southwestern Louisiana coasts.

After weeks of relative quiet, the National Hurricane Center put the chances of tropical storm formation at 90% within 48 hours in a 10 p.m. CT update Sunday.

The center of the system was an estimated 320 miles south southeast of the mouth of the Rio Grande and about 550 miles south of Cameron, Louisiana on Sunday night. With sustained winds estimated at 50 mph, the elongated system was barely moving at 5 mph in a north-northwesterly direction.

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China Boosts Underground NatGas Storage
China has boosted underground storage of natural gas, after it made an...
China has boosted underground storage of natural gas, after it made an early start on preparations for peak demand over the winter. However, the build-up may signal subdued consumption in recent months due to a slowing economy, leaving the country uncommonly well-stocked with fuel.
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