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• DAILY OIL PRICE: September 2, 2025
  Crude Oil: 65.59   (+1.58). Nymex MTD AVG: 64.8000....
  
  
  • Crude Oil: 65.59   (+1.58).
  
  
  • Nymex MTD AVG: 64.8000.
  
  
  • Natural Gas: 3.009   (+0.012).
  
  
  • Gasoline: 2.0428   (-0.1448).
  
  
  • Spreads: October/November (+0.51)     November/December (+0.44).
  
  
  • Plains WTI Posting: 62.07   (+1.58).
  
  

  
  
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• Stocks end lower to kick off September thanks to tariff uncertainy, bond jitters
  Bond-market jitters served to send stocks down Tuesday...

  Bond-market jitters served to send stocks down Tuesday on the first trading day of September, though equities finished off of session lows. A raft of economic data culminating with Friday's August jobs report are likely to set the tone for the week.

  
  

  The Dow Jones Industrial Average fell around 250 points, or 0.5%, to close near 45,296, after dropping nearly 600 points at its session low.

  
  

  The S&P 500 lost around 44 points, or 0.7%, to end near 6,415.54.

  
  

  The Nasdaq Composite dropped around 176 points, or 0.8%, to finish near 21,280.

  
  

  The yield on the 10-year Treasury note rose 4.9 basis points to finish trading Tuesday at 4.276%, while the 30-year T-bond yield was up 5.3 basis points at 4.97%. Yields move opposite to debt prices, with the increase coming amid a global rise in long-term yields tied to fiscal worries in the U.K. and France. A heavy calendar of corporate-debt issuance also contributed to weakness in Treasurys.

  
  

  An appeals-court ruling on Friday that found President Trump's "reciprocal" tariffs illegal also stirred concerns in the Treasury market about the fate of duty revenues. Trump said he would seek an emergency hearing before the Supreme Court.

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• End in Sight for Alaska’s Long March to Global LNG Market
  The Alaska LNG project is once again...

  The Alaska LNG project is once again in the spotlight after decades of stalled attempts to commercialize North Slope gas. Glenfarne Group assumed control of the project earlier this year, restructuring it into phased development to make costs more manageable and attract international buyers. The centerpiece is an 807-mile, 42-inch pipeline designed to move 3.3 Bcf/d of natural gas through some of the harshest terrain in North America. Estimated project costs range from $38 billion to $44 billion, driven higher by the need for a $10 billion processing plant to treat sour gas and remove CO₂.

  
  

  Supporters emphasize Alaska’s geographic advantage: LNG cargoes from the Gulf Coast take months to reach Asia, while Alaska shipments can arrive in weeks, translating into billions in potential savings. Glenfarne points to signed supply agreements, including a 20-year deal with Thailand for 2 million tonnes per annum (mtpa), as proof of momentum. Roughly half of planned production is already reserved.

  
  

  Still, skepticism persists. Analysts argue that the per-ton capital cost is nearly double that of Gulf Coast projects, and some suggest that political considerations, rather than pure economics, are driving early commitments. Despite these doubts, developers maintain that phased construction, early pipeline revenues, and Asia’s proximity could finally make Alaska LNG commercially viable.

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• Congress returns from summer break with a shutdown on the horizon
  Lawmakers get back to work today in Washington, DC, following their August...
  Lawmakers get back to work today in Washington, DC, following their August recess, and the No. 1 priority on Capitol Hill is keeping the government open for business. The federal government will shut down at the end of September if Congress doesn’t pass a short-term spending measure, but expect plenty of inter-party bickering since Republicans, who have the majority, still need Democratic votes for any funding bill. The Dems are planning to use that leverage to extract concessions from the GOP.
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• Fall and Football: They are Back
  And not a moment too soon. The NFL regular season returns Thursday night when the defending Super Bowl...
  And not a moment too soon. The NFL regular season returns Thursday night when the defending Super Bowl champion Philadelphia Eagles host the Micah Parsons-less Dallas Cowboys. The next day, the runners-up Kansas City Chiefs face the Los Angeles Chargers in Brazil, one of seven international games on the calendar this season. The rest of the league will join in on Sunday, and there won’t be another Sunday without football until February 2026. The Eagles, Ravens, and Bills are the betting favorites to win Super Bowl 60 in Santa Clara, CA.
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