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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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• Mantel pulls in $30M for molten salts-based CO2 capture
  Startup Mantel Capture has raised $30 million in a Series A round led...
  Startup Mantel Capture has raised $30 million in a Series A round led by Shell and Eni to advance a demonstration project for its novel molten salts-based carbon capture technology. The technology is designed for industrial sites such as refineries where it can potentially capture up to 95% of emissions at the source. "If it's successful, if they're able to deploy in the field, this has the potential to generate a step change" in the cost of carbon capture, said Hector MacQuarrie of Shell Ventures.
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