OklahomaMinerals.com

Snippets

• From Morning Brew
  Good morning. If data is the new oil, then oil is the new school lunch Gushers....

  Good morning. If data is the new oil, then oil is the new school lunch Gushers. Due to the run-up in oil prices and tech’s collapse, energy giant Saudi Aramco overtook Apple as the most valuable company in the world yesterday with a market capitalization of about $2.43 trillion.

  
  

  Markets: The Nasdaq dropping 3% in a day used to be an earth-shattering event on Wall Street—now it’s simply called “May 2022.” Tech stocks continued their total collapse after another hot inflation reading yesterday morning. Carvana, which was labeled a pandemic winner, has crashed nearly 92% from its peak and laid off 12% of its workforce on Tuesday.

  
  

  More proof of the changing of the guard: In October 2020, Zoom was worth more than Exxon Mobil. Now, Exxon’s market cap is 14x bigger than Zoom’s.

  
  

  Google unveiled its first smartwatch, the Pixel Watch, as well as a bunch of new/upgraded gadgets.

  
  

  Cleaner air is associated with a rise in Atlantic hurricanes, a government report found.

  
  

  Manhattan office update: Just 8% of office workers are back in the office 5x a week. 28% are fully remote.

  
  
  Read More
• Cryptocurrencies continued to fall early Thursday
  Bitcoin plunged below $25,500 for the ...
  Bitcoin plunged below $25,500 for the first time since December 2020. Stablecoin Tether broke its peg and dropped as low as $0.94 after the collapse of TerraUSD. Coinbase was also down in premarket trading. Here are the latest market moves.
  Read More
• EIA Reports Crude Inventory Build
  The Energy Information Administration ...
  The Energy Information Administration reported inventories had risen by 8.5 million barrels in the week to May 6.
  
  This compared with an inventory build of 1.3 million barrels estimated for the previous week, which provided a brief relief for prices.
  
  In fuels, as distillate stocks reach a critically low level, the EIA reported inventory draws.
  
  In gasoline, the authority estimated an inventory draw of 3.6 million barrels for the week to May 6. This compared with a draw of 2.2 million barrels during the previous week.
  Read More
• Truckers pay a pretty penny for diesel fuel in Oklahoma
  Diesel fuel costs in Oklahoma continue to increase, reaching a new statewide average...
  Diesel fuel costs in Oklahoma continue to increase, reaching a new statewide average this week of $5.28 a gallon. The average is still cheaper than the national average of $5.55 a gallon.
  
  Triple-A reported Wednesday the new average was two cents more than one week ago. A year ago, the statewide average for diesel fuel was $2.91.
  
  Nationwide prices rose 13 cents in the past week reaching the new average of $5.55 a gallon. A year ago, truckers paid an average of $3.12.
  
  Source: OK Energy Today
  Read More
• Crude closes back above $100
  West Texas Intermediate crude for June delivery shot up $5.95...
  West Texas Intermediate crude for June delivery shot up $5.95 to $105.71 a barrel on the New York Stock Exchange.
  
  Global benchmark Brent crude for July delivery rose $5.05 and closed at $107.51 a barrel on ICE Futures Europe.
  
  June natural gas rose 25 cents to $7.64 per 1,000 cubic feet.
  Read More

• Prev
• Next