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• Canada posts surprise August trade surplus as exports surge on gold, crude
  Canada posted a surprise C$718 million ($521.88 million) trade surplus in August, as...

  Canada posted a surprise C$718 million ($521.88 million) trade surplus in August, as transfers of gold to the United States and higher crude prices helped exports outpace a rise in imports, Statistics Canada data showed on Thursday.

  
  

  Analysts in a Reuters poll had forecast a C$1.5 billion deficit. July's shortfall was revised to C$437 million.

  
  

  Total exports increased 5.7%, while imports were up 3.8%, with both benefiting from higher prices in August, Statscan noted. By volume, exports rose 3% and imports increased 1.2%.

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• UAE's ADNOC awards $17 billion of contracts for gas project
  Abu Dhabi National Oil Company (ADNOC) said on Thursday it had awarded contracts worth...

  Abu Dhabi National Oil Company (ADNOC) said on Thursday it had awarded contracts worth about $16.94 billion for a gas project that aims to operate with net zero carbon dioxide emissions, adding it would be the first in the world to do so.

  
  

  The two engineering, procurement and construction (EPC) contracts were signed for the Hail and Ghasha Offshore Development project that will produce 1.5 billion standard cubic feet per day (bscfd) of gas before the end of the decade.

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• Exxon 3Q profits to climb from last quarter on higher prices
  Exxon Mobil (XOM.N)...

  Exxon Mobil (XOM.N) said on Wednesday big increases in oil, gas, and fuel prices would deliver a third-quarter operating profit between $8.3 billion and $11.4 billion, below the year ago's record earnings but up from its second quarter.

  
  

  Exxon's snapshot of operating profits, delivered in a securities filing after the market close, signals a good quarter for oil companies on high oil prices and strong demand for gasoline and diesel.

  
  

  The largest U.S. oil producer posted a total profit in the same quarter a year ago of $19.7 billion and $7.9 billion in its second quarter this year. Analysts currently forecast a $9.22 billion, or $2.37 per share profit, for the latest quarter, according to financial firm LSEG.

  
  

  Exxon's oil and gas production earnings were boosted by an about 30% increase in average crude oil prices during the period. The Brent global benchmark ended the quarter near $97 per barrel, up from $72 per barrel at the end of June, JPMorgan said in a note.

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• Dow adds 100 points to snap 3-day losing streak as Treasury yields ease from 16-year highs
  The Dow...
  The Dow Jones Industrial Average broke a three-day losing streak Wednesday as Treasury yields pulled back from multiyear highs following the release of much weaker-than-expected jobs data.
  
  The 30-stock index gained 127.17 points, or 0.39%, to close at 33,129.55. The S&P 500 increased 0.81% and closed at 4,263.75. Meanwhile, the Nasdaq Composite gained 1.35% at 13,236.01.
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• Closing Oil Prices
  Oil prices tumbled Wednesday to take some heat off inflation. WTI...
  Oil prices tumbled Wednesday to take some heat off inflation. WTI Benchmark U.S. crude fell $5.01 to settle at $84.22 per barrel for its worst drop in just over a year. It’s been pulling back since topping $93 last week. Brent crude, the international standard, lost $5.11 to $85.81.
  
  
  
  On the losing end of Wall Street were big oil and gas companies, which fell with the price of crude. Exxon Mobil dropped 3.7%, Chevron lost 2.3% and ConocoPhillips slid 3.6%.
  
   
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