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• Closing Oil & Gas Prices for Friday
  Oil prices peaked for the cycle in March of last year, and since then have been in a steady downtrend,...
  Oil prices peaked for the cycle in March of last year, and since then have been in a steady downtrend, shedding more than 50% of their value from peak to trough. But a recent surge above $80/barrel has WTI crude on the verge of a breakout.
  
  Benchmark U.S. crude oil for September delivery rose $1.27 to $82.82 a barrel Friday. Brent crude for October delivery rose $1.10 to $86.24 a barrel.
  
  Wholesale gasoline for September delivery rose 2 cents to $2.78 a gallon. September heating oil fell 1 cent to $3.06 a gallon. September natural gas rose 1 cent to $2.58 per 1,000 cubic feet.
  
  
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• S&P, Dow post first weekly loss out of three after U.S. downgrade
  US. stocks closed lower Friday, capping off a volatile week that...
  US. stocks closed lower Friday, capping off a volatile week that finished with losses after Fitch took away its top AAA ratings for the U.S. and government bond yields embarked on a wild ride. The Dow Jones Industrial Average DJIA fell about 150 points, or 0.4% on Friday, ending near 35,065, according to preliminary FactSet data. The S&P 500 Index SPX shed 0.5% and the Nasdaq Composite Index closed 0.4% lower. For the week, the Dow posted a 1.1% decline, the S&P 500 a 2.3% drop and the Nasdaq shed 2.9% since Monday, according to FactSet. Investors were focused on July jobs data released on Friday for clues to the health of the economy and potential next moves by the Federal Reserve on rates.
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• US shale drillers overcome productivity slump
  Better-than-expected well performance recorded in recent months has prompted leading US shale producers...
  Better-than-expected well performance recorded in recent months has prompted leading US shale producers such as Diamondback Energy and Pioneer Natural Resources to lift their production forecasts, marking a turnaround from last year's productivity dip. Technical innovations such as extended horizontal drilling have enhanced production efficiency, but some industry insiders are wary of the heightened risks associated with these drilling practices.
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• Mexico Pacific deals widen ConocoPhillips' LNG foothold
  ConocoPhillips has secured agreements to purchase 2.42 million short tons of liquefied natural gas annually...
  ConocoPhillips has secured agreements to purchase 2.42 million short tons of liquefied natural gas annually from Mexico Pacific's Saguaro LNG export facility over 20 years, contingent on a final investment decision for the project. The Saguaro plant will produce LNG from gas sourced from the Permian Basin via a dedicated pipeline and export it primarily to Asia.
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• Project delays put La. LNG sector's resilience to the test
  Regulatory hurdles, financing difficulties and mounting competition have led to setbacks for multiple...
  Regulatory hurdles, financing difficulties and mounting competition have led to setbacks for multiple liquefied natural gas export projects planned in Louisiana, raising questions about the industry's future expansion in the state. However, American Petroleum Institute Vice President of Natural Gas Markets Rob Jennings isn't worried about a slowdown, pointing out that five final investment decisions have been made since Russia's invasion of Ukraine.
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