EIA: US sets first-half record in petroleum product exports
The US exported nearly 6 million barrels per day of petroleum...
The US exported nearly 6 million barrels per day of petroleum products in the first six months of 2023, up 2% year over year to reach the highest first-half level on record, according to the Energy Information Administration. The surge was primarily fueled by a rise in propane and other hydrocarbon gas liquids exports, as exports of motor gasoline, distillate fuel, and other major petroleum products declined on an annual basis.
US refinery downtime to rise this fall amid maintenance
The US is set to lose almost 2.5 million barrels per day of refining...
The US is set to lose almost 2.5 million barrels per day of refining capacity between September and December, according to Energy Aspects data, an increase of 11% from the same time last year to mark the busiest fall maintenance season since before the coronavirus pandemic. Refinery maintenance activity could break records in the first quarter of 2024, fueled by a backlog of deferred work and routine turnarounds.
Historybook: American singer-songwriter Chubby Checker born (1941); Gwen Stefani born...
Historybook: American singer-songwriter Chubby Checker born (1941); Gwen Stefani born (1969); East and West Germany are unified (1990); OJ Simpson acquitted of murdering ex-wife and her friend (1995); "Psycho" actress Janet Leigh dies (2004).
Tesla misses expectations, delivering 435,059 vehicles in Q3 versus 466,140 in previous quarter and 343,830 in Q3 2022; company shares flat (More)
The WHO approved a second malaria vaccine for children. It was developed by the University of Oxford and can be made cheaply and quickly—a big advance for combating the deadly disease.
Birkenstock is targeting a $9.2 billion valuation in its upcoming IPO. Not bad for a sandal so grounded it brought Barbie to the real world.
Eastern Energy Acquires 100% of Conquest Completion Services
Oilfield services provider Eastern Energy Services Inc....
Oilfield services provider Eastern Energy Services Inc.will acquire 100% of the ownership interests of Conquest Completion Services LLC, the company announced in a press release late last week.
Headquartered in Houston, Texas, Conquest is a provider of large-diameter coiled tubing units and oilfield chemicals used to advance reservoir performance. The acquisition supports Eastern’s completion, intervention, and production services in several basins, including the Haynesville Shale, Austin Chalk, Tuscaloosa Marine Shale, Louisiana, and conventional fields in Mississippi, Alabama, and Florida.
S&P futures vs fair value: -20.00. Nasdaq futures vs fair value: -82.00. The...
S&P futures vs fair value: -20.00. Nasdaq futures vs fair value: -82.00.
The S&P 500 futures are down 20 points and are trading 0.5% below fair value. The Nasdaq 100 futures are down 82 points and are trading 0.6% above fair value. The Dow Jones Industrial Average futures are down 135 points and are trading 0.5% below fair value.
Stock futures indicate a lower open, pressured again by rising market rates. The 10-yr note yield is up another six basis points to 4.73% and the 2-yr note yield is up three basis points to 5.12%. Yesterday's disappointing price action, as evidenced by a 1.1% decline in the Invesco S&P 500 Equal Weight ETF (RSP), has also contributed to the negative bias this morning.
