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• Starship’s 10th test flight succeeds, in big boost to SpaceX, NASA
  The largest and most powerful rocket ever built went ...
  The largest and most powerful rocket ever built went up to space and back, launching at 7:30pm ET yesterday from Starbase in Texas. The Starship spacecraft and the Super Heavy booster both made simulated landings before exploding (the former in the Indian Ocean, the latter in the Gulf of Mexico). An expert source told the New York Times that the company “appeared to achieve all of their test objectives” and is “back on track” after three Starship tests failed earlier this year. The mission gives both SpaceX and NASA good news and momentum as they work together toward the Artemis III mission, which intends to put two astronauts on the moon and is currently scheduled for late 2027.
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• ☕️What Else is Brewing Wednesday Morning
   Norway divests from Caterpillar over Palestine demolitions. The...
   Norway divests from Caterpillar over Palestine demolitions. The world’s largest sovereign wealth fund is selling off its ~$2.1 billion stake in US equipment-maker Caterpillar, it announced this week, citing Israel’s documented use of its bulldozers to destroy Palestinian homes in the West Bank and Gaza. The fund’s independent ethics council said, “Caterpillar’s products are being used to commit extensive and systematic violations of international humanitarian law” with the help of the US government, which buys the machinery and sells it to Israel. The White House, Israel, and Caterpillar didn’t immediately comment. Amid mounting public and political pressure, Norway’s wealth fund has divested from more than 20 Israeli companies this year in an ongoing ethics review, but Caterpillar is the first major US company to get the boot.
  
  ExxonMobil and Russia’s biggest state energy company held talks about the former resuming business in the country after the 2022 exodus of US trade partners.
  
  OpenAI was sued by the family of a teenager who died by suicide, saying ChatGPT was to blame for the death.
  
  Social Security’s chief data officer said DOGE uploaded a file with the private information of 300 million Americans to an unsecured cloud in June.
  
  Powerball is offering its seventh-biggest prize ever tonight—$815 million—after no one won the grand prize on Monday night.
  
  Cracker Barrel announced it would revert to its old logo after its update sparked an uproar.
  
  Apple will hold an event on Sept. 9 to reveal the iPhone 17 lineup.
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• US Oil and Products See Draw Across the Board
  The American Petroleum Institute (API) estimated that crude oil...
  The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell this week, dropping by 974,000 barrels in the week ending August 15. Analysts had expected a larger 1.7-million-barrel draw.
  
  So far this year, crude oil inventories are up 6.8 million barrels, according to Oilprice calculations of API data.
  
  Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 800,000 barrels to 404.2 million barrels in the week ending August 22.
  
  Gasoline inventories fell by 2.060 million barrels in the week ending August 22. As of last week, gasoline inventories were 1% below the five-year average for this time of year, according to the latest EIA data.
  
  Distillate inventories fell this week by 1.488 million barrels after rising by 500,000 barrels in the week prior. Distillate inventories were already 13% below the five-year average as of the week ending August 15, the latest EIA data shows.
  
  Cushing inventories—the benchmark crude stored and traded at the key delivery point for U.S. futures contracts in Cushing, Oklahoma—fell by 497,000 barrels in the week, after falling by 100,000 barrels in the week prior.
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• DAILY OIL PRICE: August 26, 2025
  Crude Oil: 63.25   (-1.55)....
  
  
  • Crude Oil: 63.25   (-1.55).
  
  
  • Nymex MTD AVG: 64.1146.
  
  
  • Natural Gas: 2.717   (+0.021).
  
  
  • Gasoline: 2.1223   (-0.0260).
  
  
  • Spreads: September/October (+0.45)     October/November (+0.34).
  
  
  • Plains WTI Posting: 59.73   (-1.55).
  
  

  
  
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• Dow ends up over 130 points, S&P 500 and Nasdaq finish higher as investors shake off Fed independence concerns
  U.S. stocks finished higher on Tuesday afternoon in quiet...

  U.S. stocks finished higher on Tuesday afternoon in quiet trading as investors appeared unfazed after President Donald Trump attempted to oust Federal Reserve governor Lisa Cook from the central bank’s board, underscoring rising concerns over the Fed's independence when it comes to monetary policy.

  
  

  The Dow Jones Industrial Average rose 135.60 points, or 0.3%, to end at 45,418.07, according to FactSet data.

  
  

  The S&P 500 was up 26.62 points, or 0.4%, to finish at 6,465.94.

  
  

  The Nasdaq Composite popped 94.98 points, or over 0.4%, ending at 21,544.27

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