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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for September delivery...
  Benchmark U.S. crude oil for September delivery fell $1.61 to $79.38 a barrel Wednesday. Brent crude for October delivery fell $1.44 to $83.45 a barrel.
  
  Wholesale gasoline for September delivery rose 2 cents to $2.87 a gallon. September heating oil fell 1 cent to $3.02 a gallon. September natural gas fell 7 cents to $2.59 per 1,000 cubic feet.
  
  
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• Stocks post losses after Fed minutes point to lingering inflation and rate risks
  U.S. stocks posted back-to-back losses Wednesday after Federal...
  U.S. stocks posted back-to-back losses Wednesday after Federal Reserve minutes of its July meetings showed concerns about inflation revving back up. The Dow Jones Industrial Average DJIA fell about 180 points, or 0.5%, ending near 34,765, according to preliminary FactSet data. The S&P 500 Index SPX gave up 0.8% and the Nasdaq Composite Index COMP closed 1.2% lower. All three benchmarks booked back-to-back loses, while the S&P 500 ended at its lowest level in more than a month. Minutes of the Fed’s July 25-26 meeting said “Most participants continue to see significant upside risks to inflation, which could require further tightening of monetary policy.”
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• Ohio Utica's oil potential back in the spotlight
  Oil exploration is making a comeback in Ohio's Utica fairway,...
  Oil exploration is making a comeback in Ohio's Utica fairway, with companies such as Ascent Resources Utica and Encino Energy's EAP Ohio reporting impressive results from their newest wells. Ascent's two-well Lavada RCH GR pad and three-well Jackalope WSG GR pad yielded 2,691 barrels per day and 4,405 bpd on average, respectively, during initial months of production, while Encino/EAP Ohio generated 1,118 bpd on average from each of its four new wells in Carroll County during their first 182 days online.
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• N.D.'s oil and gas production had a strong June
  North Dakota produced 1.17 million barrels per day of crude oil in June, marking a 3% month-over-month...
  North Dakota produced 1.17 million barrels per day of crude oil in June, marking a 3% month-over-month increase and the highest level since December 2020, while natural gas output climbed by 3% to over 3.25 Bcf/d, according to the state's Mineral Resources Department. Mineral Resources Director Lynn Helms expects the momentum to persist into the following month and noted that oil producers are moving into non-core drilling areas, which calls for increased investments in gas capture and transportation infrastructure.
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• US Mortgage Rate Climbs to 7.16%, Matching Highest Since 2001
  (Bloomberg) -- The US 30-year mortgage rate rose to 7.16%...
  (Bloomberg) -- The US 30-year mortgage rate rose to 7.16% last week, matching the highest since 2001 and crimping both sales and refinancing activity.

  
  

  The contract rate on a 30-year fixed mortgage rose 7 basis points to 7.16% in the week ended Aug. 11, according to Mortgage Bankers Association data out Wednesday. The gauge of home-purchase applications slipped for a fifth-straight week to the second-lowest level since 1995.
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