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• US LNG cargo cancellations loom as global prices fall
  Traders are sounding the alarm over the growing...
  Traders are sounding the alarm over the growing likelihood of US LNG cargo cancellations in the coming months as global LNG prices continue to plummet. While current price spreads remain favorable for US LNG exports, cancellations may occur if LNG spot prices dip into the low single digits, which would lead to price declines and an oversupply in the US market.
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• Drilling for Oil
  Despite growing long-term demand for natural gas, approximately...
  Despite growing long-term demand for natural gas, approximately two-thirds of new global final investment decision volumes are for oil, according to Wood Mackenzie data.
  
  Not only is the majority of exploration capital spend weighted toward oil, but oil-focused projects also tend to pay back faster than gas-focused exploration.
  
  Capital spending on gas-focused exploration is continuing a multi-year downward trend, which WoodMac believes is an insufficient amount of capex in gas required to meet global demand.
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• ☕️What Else is Brewing Wednesday Morning
  Twitter is worth one-third of the $44 billion Elon Musk paid for the company, ...
  Twitter is worth one-third of the $44 billion Elon Musk paid for the company, according to Fidelity.
  
  The Succession finale on Sunday night pulled in 2.9 million viewers—a record for the series, HBO said. Excellent show .
  
  Goldman Sachs is reportedly considering its third round of layoffs in less than a year as Wall Street dealmaking continues its slump.
  
  US air traveler numbers this MDW topped 2019 levels, according to the TSA.
  
  A beluga whale suspected of being a former Russian spy was seen off the coast of Sweden.
  
  
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• Xcel Energy Declares Common Stock Dividend
  Xcel Energy Inc.’s board of directors declared a $0.52 per...
  Xcel Energy Inc.’s board of directors declared a $0.52 per share quarterly dividend on its common stock, the company announced in a May 23 press release.
  
  The dividends are payable July 20 to shareholders on record as of June 15.
  
  Xcel Energy is a U.S. electricity and natural gas company headquartered in Minneapolis, Minnesota.
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• Closing Oil & Gas Prices for Tuesday
  Benchmark U.S. crude oil for July delivery fell...
  Benchmark U.S. crude oil for July delivery fell $3.21 to $69.46 a barrel Tuesday. Brent crude for July delivery fell $3.53 to $73.54 a barrel.
  
  Wholesale gasoline for June delivery fell 11 cents to $2.60 a gallon. June heating oil fell 9 cents to $2.28 a gallon. July natural gas fell 9 cents to $2.33 per 1,000 cubic feet.
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