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• Energy Sector Commentary
  The energy sector is off to a higher start, supported by strength...
  The energy sector is off to a higher start, supported by strength in the underlying commodities and the major equity indices. The broader markets started the session higher ahead of the central bank policy meeting at Jackson Hole later this week.
  
  WTI and Brent crude oil are kicking off the week higher, after snapping a seven-week winning streak on Friday. Oil futures on both sides of the Atlantic are up, for a third-consecutive day on signs of tighter oil supply and a weaker dollar.  Fewer exports from Saudi Arabia and China as well as high heating oil prices are outweighing concerns over global demand growth. Customs data out yesterday showed China imports of Saudi crude last month fell to 5.65M MT or around 1.33M bpd, the lowest since June-2022.
  
  Natural gas futures are higher as warmer weather continues to boost demand for air conditioning. The NOAA 6-10 day Sunday afternoon has parts of CA and the Northeast quarter of the L48 experiencing below-normal temperatures while everywhere else is seen above normal.
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• European Stocks Rise, Energy Stocks Gain as Oil Prices Climb
  European stock markets were...
  
  

  European stock markets were climbing on Monday, and energy companies were among the top gainers as oil prices were on the rise, with hurricane season in focus.

  
  

  The Stoxx Europe 600 Index was up 0.6%. London’s FTSE 100 was up 0.3%, with oil majors Shell and BP among its top performers.

  
  

  “This month, we upgrade the global energy sector to most preferred from neutral. The sector has lagged this year, but the improving economic backdrop, coupled with a tightening oil market, should support oil prices,” analysts at UBS wrote in a research note on Monday.

  
  Brent crude, the global benchmark for oil prices, was up 1.1% West Texas Intermediate, the U.S. standard, gained 1.2%.
  
  
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• ☕️What Else is Brewing Monday Morning
  The college football season kicks off on Saturday. In many ways, it will be the ...
  The college football season kicks off on Saturday. In many ways, it will be the end of an era.
  
  Burning Man starts on Sunday in the Nevada desert, but the festival doesn’t seem to be a hot ticket this year. Tix are being listed for far below face value.
  
  Cruise will slash the number of its robotaxis in San Francisco by half following a series of incidents, California’s DMV said.
  
  Barbie lost its No. 1 spot at the domestic box office after four weeks to DC superhero flick Blue Beetle.
  
  Parents are no longer teaching many homeschoolers, the WaPo reports.
  
  Check out all the expensive cars displayed at Monterey Car Week.
  
  
  
   
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• 🔥As wildfires rage, Canada calls on Meta to lift news ban
  Canadian leaders urged Meta to ...
  Canadian leaders urged Meta to reverse its domestic news ban in the country because it’s hindering people from sharing important information about wildfires spreading across the Northwest Territories. In June, Meta began to block the sharing of news on Facebook and Instagram in the country after the Canadian government passed a law requiring tech companies like Meta to pay news publishers for articles shared on their platforms. In Yellowknife, a city of 20,000 people that was evacuated, people were reportedly posting screenshots of emergency intel to Facebook since they couldn’t share links.
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• Stocks Poised to Open Higher
  U.S. stocks are poised for a slightly higher open on Monday,...
  U.S. stocks are poised for a slightly higher open on Monday, ahead of Federal Reserve Chairman Jerome Powell’s highly anticipated remarks at the central bank’s annual conference in Jackson Hole, Wyo. 
  

  
  
  • S&P 500 futures ES00, 0.35% rose 15 points, or 0.3% to 4397
  
  
  • Dow Jones Industrial Average futures YM00, 0.19% gained 79 points, or 0.2% to 34644
  
  
  • Nasdaq 100 futures NQ00, 0.58% rose 86 points, or 0.5% to 14830
  
  

  
  A trimming of interest rates over the weekend by China’s central bank has underwhelmed the market, while the 10-year Treasury yield is up about 4 basis points to 4.29%, holding near 15-year highs.
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