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Presidio, SPAC, Merger, Panhandle

Presidio, SPAC, Merger, Panhandle

Presidio Targets Public Debut in $660M SPAC Deal

Chevron, Exxon, Europe, Oil, Production

Chevron, Exxon, Europe, Oil, Production

Exxon, Chevron Raise Production as Europe Falls Behind

At least four tankers discharged millions of barrels of Russian crude at Indian refineries over the weekend, even as pressure ramps up by USA

At least four tankers discharged millions of barrels of Russian crude at Indian refineries over the weekend, even as pressure ramps up by USA

Tankers Deliver Russian Crude to India Despite USA and EU Pressure

Armstrong, Alaska, Oil, Energy, Conventional

Armstrong, Alaska, Oil, Energy, Conventional

Bill Armstrong Proves Alaska Oil Finds Aren’t Over

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Closing Oil and Gas Prices for Friday
Benchmark U.S. crude oil for December delivery...
Benchmark U.S. crude oil for December delivery rose $2.99 to $75.89 per barrel Friday. Brent crude for January delivery rose $3.19 to $80.61 per barrel.

Wholesale gasoline for December delivery rose 8 cents to $2.18 a gallon. December heating oil rose 2 cents to $2.77 a gallon. December natural gas fell 10 cents to $2.96 per 1,000 cubic feet.

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Energy Sector Commentary for Friday
The energy sector is off to a broadly higher start, supported by strength in the crude...
The energy sector is off to a broadly higher start, supported by strength in the crude complex and in the major equity futures. U.S. stock index futures edged higher as Treasury yields extended declines from the previous session after recent weak economic data supported bets of a dovish pivot by the Federal Reserve next year.

Following two consecutive sessions of declines, WTI and Brent crude oil futures are rebounding off yesterday's four-month lows on growing worries about burgeoning non-OPEC supply and cooling demand. Both contracts are on track for their fourth straight week of losses triggered by a steep rise in U.S. crude inventories and production sustaining at record levels, while signs of thawing demand in China also triggered concerns. Meanwhile, prompt monthly spreads for both contracts have flipped to contango, a structure that indicates nearby prices are lower than those in future months reflecting healthy supply.

Natural gas futures slid for the second straight day on a bigger-than-expected weekly storage build and on record output that should enable utilities to keep injecting gas into storage through at least late November.
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U.S. housing starts rise ‘unexpectedly’ for the second straight month
The numbers: Construction of new homes rose 1.9% in October, as builders amped up new...
The numbers: Construction of new homes rose 1.9% in October, as builders amped up new projects. The pace of construction increased as builders saw a pressing need for more housing units, with the resale market continuing to deal with a shortage.

Housing starts rose to a 1.37 million annual pace from 1.35 million in October, the government said Friday. That’s how many houses would be built over an entire year if construction took place at the same pace every month as it did in October.

The data exceeded expectations on Wall Street, where the expected rate was 1.35 million. The numbers are seasonally adjusted.
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Vegas becoming a major sports capital
Yesterday, MLB gave the green light for the ...
Yesterday, MLB gave the green light for the Oakland A’s to move to Vegas, where the team would join the WNBA champions Aces and NHL champions Golden Knights. As for Vegas hotels, they’ll be filled up soon—the city will host the finals of the NBA’s mid-season tournament in December and the Super Bowl in February. And next year, a UFC fight is scheduled to take place inside the Sphere, and of course, the NFL Raiders moved here in 2020.

And of course, after an extensive transformation to turn the streets of Sin City into a Formula One circuit, this weekend’s Vegas Grand Prix is off to the races. The Formula 1 Las Vegas Grand Prix will follow the traditional race weekend format with three practice sessions, qualifying, and the race on Saturday night at 1 AM ET.
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F1 Hits the Strip
One of the year's biggest sporting spectacles will be ...
One of the year's biggest sporting spectacles will be held this weekend, as Formula 1 racing returns to Las Vegas for the first time in four decades. See a map of the course here.

Facing lackluster ticket sales, waning hotel room rates, and an unhappy Dutch driver, race and F1 owner Liberty Media lowered profit expectations for the event, which some had thought could be a bigger deal than the Super Bowl. After an opening ceremony that featured John Legend, fireworks, and elevated stages that made the drivers look like members of One Direction, Red Bull driver and world champion Max Verstappen called the race “99% show, 1% sporting event.”
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