Chances were up to 40% for the system to strengthen into a tropical cyclone — which is now Invest 99L — over the next 48 hours, according to the latest advisory.
Air Force Reserve hurricane hunters are scheduled to investigate the system today, if necessary, according to the National Hurricane Center.
Dow industrials start Friday session with 200-point skid
U.S. stocks opened lower on Friday as traders braced for more volatility with more than $2 trillion...
U.S. stocks opened lower on Friday as traders braced for more volatility with more than $2 trillion in equity-linked options contracts set to expire.
The Dow Jones Industrial Average DJIA, -0.70% fell 134 points, or 0.4%, to 33,862.
The S&P 500 SPX, -1.04% dropped 24.37 points, or 0.6%, to 4,259.
The Nasdaq Composite decreased 126 points, or 1%, to 12,839.
On Thursday, the S&P 500 SPX, -1.04% rose 0.2% to 4,283.74, the Dow industrials DJIA, -0.70% rose less than 0.1% to close at 33,999.04 and the Nasdaq Composite COMP, -1.60% gained 0.2% to finish at 12,965.34.
What’s driving markets?
Friday will be devoid of major U.S. economic data, leaving investors to deal with the monthly expiration of $2 trillion worth of stock and index options and comments from Federal Reserve officials.
Rystad: Hedges could cost shale operators $10B this year
A Rystad Energy analysis estimates that US shale operators could lose more than $10 billion this year...
A Rystad Energy analysis estimates that US shale operators could lose more than $10 billion this year due to hedging transactions if oil prices hold around $100 per barrel. To keep losses at a minimum, companies have been adjusting their hedging strategies and many were able to secure higher limits for 2023 hedges, the analysis notes.
Increased crude oil shipments from the US and the Middle East sent supertanker rates close to $40,000...
Increased crude oil shipments from the US and the Middle East sent supertanker rates close to $40,000 per day on Wednesday, the highest since June 2020. Activity has spiked in key basins amid shifting trade flows and longer voyages caused by the rerouting of Russian volumes, putting a strain on the global supertanker fleet.
Tellurian Completes $125 Million Acquisition of Private Haynesville Producer
Tellurian Inc. wrapped up its acquisition of natural gas assets located in the Haynesville...
Tellurian Inc. wrapped up its acquisition of natural gas assets located in the Haynesville Shale from privately held EnSight Energy Partners LP on Aug. 18 for $125.5 million in cash.
“This closing represents significant progress for Tellurian and our business model,” commented Tellurian President and CEO Octávio Simões in a company release.
A subsidiary of the Houston-based LNG developer, Tellurian Production LLC, had entered the previously announced agreement in July to pay up to $132.5 million to purchase the natural gas assets from EnSight IV Energy Partners LLC and EnSight Haynesville Partners LLC. The cash consideration at closing was $125.5 million, revised from the announced $125 million due to preliminary purchase price adjustments, the release on Aug. 18 said.
