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• From Twitter: Anybody Ever Drill a Dry Hole?
  Highlight: Armstrong gets invited to...

  
  

  Highlight:
  
  Armstrong gets invited to speak to Devon technical about drilling exploratory wells
  
  Walks into room of 75 engineers and asked show of hands how many have ever drilled a dry hole. 2 raise their hand
  
  Follows up asking how many have drilled a commercial shale well
  
  🐐 https://t.co/pZRjIczcgg

  
  — BSB 💣 (@StreetBomber) August 19, 2025

  
  
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• ☕️What Else is Brewing Wednesday Morning
  The Air Canada strike is over. Flights resumed last...
  The Air Canada strike is over. Flights resumed last night after the airline reached a deal with the union representing its flight attendants to end a three-day work stoppage that had grounded Canada’s flag carrier. Nearly 3,000 flights were canceled after more than 10,500 flight attendants walked off the job last week following months of unsuccessful contract negotiations, arguing they were not compensated fairly. The two sides did not divulge the details of their agreement, but Air Canada CEO Michael Rousseau said the company’s offer attempted to satisfy the union’s demands over unpaid work. It’s likely to take a few days before the airline’s operations return to normal.
  
  Israel said it will respond by Friday to a Gaza ceasefire plan that Hamas reportedly agreed to earlier this week.
  
  OpenAI CEO Sam Altman said he believes AI is in a bubble and that investors are “overexcited” about the technology.
  
  Chamath Palihapitiya, the former Facebook executive once known as the “SPAC King,” is returning after three years with a new blank-check vehicle.
  
  Robinhood is launching prediction markets for college football and the NFL “in the coming days.”
  
  YouTube is making a pitch to host the Oscars once the ceremony’s contract with ABC expires in 2028, Bloomberg reported.
  
  The Duffer Brothers, who created Stranger Things, are parting ways with Netflix and signing an exclusive deal to make projects for Paramount.
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• Oil prices fall on talks to end Russian invasion of Ukraine
  Reuters) - Oil prices fell on Tuesday as traders bet...

  Reuters) - Oil prices fell on Tuesday as traders bet that talks over a possible agreement to legitimize or end Russia's invasion of Ukraine could ease sanctions on Russian crude oil, boosting global supply.

  
  

  Brent crude futures settled at $65.79 a barrel, down 81 cents, or 1.22%. U.S. West Texas Intermediate crude futures for September delivery, set to expire on Wednesday, finished at $62.35 a barrel, down $1.07, or 1.69%.

  
  

  "Even with this peace dividend, we have a record short position," said Phil Flynn, senior analyst with Price Futures Group. "Because of the size of the short position, people are betting on a cease-fire and if we don't get one there could be a bounce."

  
  

  Following a White House meeting on Monday with Ukrainian President Volodymyr Zelenskiy and European allies, U.S. President Donald Trump announced in a social media post that he had spoken with Russian President Vladimir Putin.

  
  

  Trump said arrangements were being made for a meeting between Putin and Zelenskiy, which could lead to a trilateral summit involving all three leaders.

  
  
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• Dow ends flat, Nasdaq and S&P 500 finish sharply lower as Big Tech stocks slide
  U.S. stocks finished mostly lower on Tuesday, after a...

  U.S. stocks finished mostly lower on Tuesday, after a selloff in megacap technology names weighed on the three major indexes ahead of the Federal Reserve’s annual economic symposium in Jackson Hole, Wyo., later this week.

  
  

  The Dow Jones Industrial Average finished flat at 44,922.27, according to FactSet data. Earlier, the blue-chip index rose to a fresh intraday record, thanks to strong gains in shares of Home Depot Inc.

  
  

  The S&P 500 fell 37.78 points, or 0.6% to end at 6,411.37.

  
  

  The Nasdaq Composite slumped 314.82 points, or nearly 1.5% to finish at 21,314.95. It was the largest one-day point and percentage decline for the tech-heavy index since Aug. 1, according to Dow Jones Market Data.

  
  

  Investors turned cautious ahead of the Federal Reserve's Jackson Hole Economic Policy Symposium on Friday, where Fed Chair Jerome Powell is set to provide insights into the central bank's future monetary-policy decisions.

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• Lawsuits seek billions from oil majors for La. coastal work
  More than 40 lawsuits filed in Louisiana target major oil and gas companies,...
  More than 40 lawsuits filed in Louisiana target major oil and gas companies, seeking billions to address damage from decades of drilling infrastructure left behind in coastal marshes. The suits, backed by state officials and coastal parishes, aim to hold oil majors like Chevron accountable for funding the restoration of land lost to erosion and environmental harm.
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