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• What is Brewing This Tuesday Morning
  Gap CEO Sonia Syngal is stepping down from her position atop the struggling retailer.
  
  India will overtake China as the world’s most populous country next year, according to the UN.
  
  Speaking of India: Police arrested a group of Indian con men who staged a fake Indian Premier League cricket match on a farm and duped Russian gamblers into betting on it.
  
  A larger share of US home sales fell through last month than at any point since April 2020, according to Redfin.
  
  The successor to McDonald’s in Russia has a major problem: a shortage of french fries.
  
  Real Housewives of Salt Lake City star Jen Shah pleaded guilty to running a fraudulent telemarketing scheme.
  
  
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• Oil majors face output slump, deep losses if Russia stops Kazakh pipeline
  Western energy majors will cut output and lose billions of dollars if Russia, as is feared, suspends...
  Western energy majors will cut output and lose billions of dollars if Russia, as is feared, suspends a pipeline that is almost the only export route for oil from land-locked Kazakhstan, company sources, traders and analysts say.
  
  The closure of the CPC pipeline that carries oil from Kazakhstan to the Black Sea Russian export terminal in the port of Novorossiisk would shut in more than 1% of the global oil supply, exacerbating what is already the most severe energy crunch since the Arab oil embargo in the 1970s.
  
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• MarketWatch: Oil slumps over 4% as U.S. benchmark slides back below $100 a barrel
  Oil futures fell sharply early Tuesday, with the U.S. benchmark slipping back below $100 a barrel, hampered...
  Oil futures fell sharply early Tuesday, with the U.S. benchmark slipping back below $100 a barrel, hampered by a strong dollar and continued worries over COVID-19 restrictions in China.
  

  
  
  • West Texas Intermediate crude for August delivery CL.1, -4.14% CL00, -4.18% CLQ22, -4.14% fell $4.80, or 4.6%, to $99.29 a barrel on the New York Mercantile Exchange.
  
  
  • September Brent crude BRN00, -3.86% BRNU22, -3.87%, the global benchmark, dropped $4.80, or 4.5%, to $102.30 a barrel on ICE Futures Europe.
  
  
  • Back on Nymex, August gasoline RBQ22, -4.05% fell 5% to $3.2923 a gallon, while August heating oil HOQ22, -1.83% lost 2.6% to $3.6706 a gallon.
  
  
  • August natural-gas futures NGQ22, +2.71% rose 3.4% to $6.643 per million British thermal units.
  
  
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• Closing Oil & Gas Prices for Monday
  Benchmark U.S. crude oil for August delivery fell 70 cents to $104.09 a barrel Monday....
  Benchmark U.S. crude oil for August delivery fell 70 cents to $104.09 a barrel Monday. Brent crude for September delivery rose 8 cents to $107.10 a barrel.
  
  Wholesale gasoline for August delivery rose 1 cent to $3.46 a gallon. August heating oil rose 10 cents to $3.77 a gallon. August natural gas rose 40 cents to $6.43 per 1,000 cubic feet.
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• Nasdaq leads stocks to lower finish
  Stocks posted their biggest declines in more than a week on Monday, as investors evaluated...
  Stocks posted their biggest declines in more than a week on Monday, as investors evaluated China’s crackdown on a new COVID-19 subvariant and braced for the likelihood of another hot U.S. inflation reading in two days.
  

  
  
  • The Dow Jones Industrial Average DJIA finished down by 164.31 points, or 0.5%, at 31,173.84, after briefly popping into positive territory in early afternoon trade.
  
  
  • The S&P 500 SPX closed lower by 44.95 points, or 1.2%, at 3,854.43.
  
  
  • The Nasdaq Composite COMP ended down by 262.71 points, or 2.3%, at 11,372.60.
  
  
  • Those were the biggest declines for the Dow since June 30, and for the S&P 500 and Nasdaq since June 28, according to Dow Jones Market Data.
  
  
  • The major stock indexes had risen last week, with the S&P 500 up 1.9%, the Dow Jones Industrial Average higher by 0.8% and the Nasdaq Composite gaining 4.6%.
  
  
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