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Data Center, Natural Gas, Oil, Power,

Natural Gas and Batteries Anchor Data Center Growth

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Oil, Gas, Canvas, Diversified, Oklahoma

$550MM Canvas Acquisition Expands Diversified Energy’s Oklahoma Footprint

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Shale, Oil, OPEC+, Producers, CAPEX

U.S. Oil Producers Slash 2025 Spending as Prices Slide and Consolidation Mounts

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Waha, Delaware, Gas, Pipeline,

Targa Advances Forza Pipeline Linking Delaware to Waha

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Rystad: 12 MMbbl/d at Risk in Full-blown Middle East War
According to an Oct. 17 report by Rystad Energy,...

According to an Oct. 17 report by Rystad Energy, a full-blown conflict in the Middle East could potentially threaten up to 12 MMbbl/d of oil.

An all-out regional war between Israel and Iran could choke the Strait of Hormuz and sharply drive up oil prices, Rystad’s Middle East Research Director Aditya Saraswat said in the report. The fallout would also extend to crude oil projects that have yet to be completed and existing infrastructure that could come under fire.

“Tensions persist in the Middle East, and the humanitarian toll is climbing. Energy market fundamentals have been largely unaffected to date, but this could change at a moment’s notice,” Saraswat said in the report. “Iran and Israel's conflict could severely impact gas exports and lead to delays in oil development projects.”

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Oil demand to peak by 2030, IEA predicts
The International Energy Agency predicts that the world is approaching...
The International Energy Agency predicts that the world is approaching a major shake-up in the global energy landscape, with oil demand expected to peak by the end of the decade as the transition to an era powered by electricity picks up pace. Peak oil demand could lead to an oversupply of oil and gas, driving down prices and freeing up funds for investment in renewable energy technologies, the agency says.
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🇮🇱 Israel confirmed it killed Hamas leader Yahya Sinwar
The mastermind of the October 7 attacks that killed 1,200 Israelis and...
The mastermind of the October 7 attacks that killed 1,200 Israelis and took hundreds of hostages back to Gaza, Sinwar was the top target of the Israeli military for more than a year. His body was discovered after a firefight in Gaza, and his identity was later confirmed with DNA testing. Sinwar was reportedly overseeing Hamas military operations while in hiding, in addition to serving as the group’s political leader following the July assassination of Ismail Haniyeh in Iran. Several US officials affirmed the news of Sinwar’s death, while some were hopeful that it could convince Israel to scale back its brutal war and end the suffering in Gaza. Israeli Prime Minister Benjamin Netanyahu said it marks the “beginning of the end” but that the war will continue.
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☕️What Else is Brewing Friday Morning
Meta laid off employees at Instagram and WhatsApp. According...
Meta laid off employees at Instagram and WhatsApp. According to The Verge, the social media giant made a series of cuts across various departments as part of a reorganization. A Meta spokesperson confirmed there were layoffs aligned with “long-term strategic goals and location strategy.” Meta also recently fired about two dozen employees for abusing $25 Uber Eats and Grubhub credits, the Financial Times reported. Staff members were allegedly using the company perk, which is meant for employees in locations without cafeterias, to buy household items like laundry detergent instead of food. The moves come about two years after Meta laid off tens of thousands of employees as part of CEO Mark Zuckerberg’s “year of efficiency.”

Prada, alongside Axiom Space, unveiled the design of the spacesuit that NASA astronauts will wear when they walk on the moon in 2026.

Google said it will block ads about the presidential election after Nov. 5 to prevent the spread of misinformation, like if a candidate prematurely declares victory, Axios reported.

Ferrari revealed its first supercar in 11 years: the $3.9 million F80, inspired by the aerospace industry.

Weight loss drugs like Novo Nordisk’s Ozempic can help to cut drug and alcohol abuse, according to a new study.

Ukrainian President Volodymyr Zelensky said that he has received intelligence that 10,000 North Korean troops are preparing to fight alongside Russians in Ukraine.

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Closing Oil and Gas Prices for Thursday
Oil prices inched up on Thursday, bouncing back from...
Oil prices inched up on Thursday, bouncing back from two-week lows, after data showed falling crude and fuel inventories in the United States.

Both benchmarks had settled down on Wednesday, closing at their lowest levels since Oct. 2 for a second day in a row, after OPEC and the International Energy Agency cut demand forecasts for 2024 and 2025.

U.S. crude inventories fell by 2.2 million barrels to 420.6 million barrels in the week ended Oct. 11, the Energy Information Administration said on Thursday, compared with analysts' expectations in a Reuters poll for a 1.8 million-barrel rise. Gasoline and distillate inventories also fell last week.

"This tells me operational efficiencies are still improving," said Tim Snyder, chief economist at Matador Economics. "Markets are normalizing."

As of October 17, 2024, the closing prices for oil and gas were:

WTI Crude: $70.67 per barrel

Brent Crude: $74.04 per barrel

Natural Gas: $2.48 per MMBtu

Gasoline: $2.04 per gallon
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