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• ☕️What Else is Brewing Tuesday Morning
  Tesla is cutting more than 10% of its global workforce. CEO...
  Tesla is cutting more than 10% of its global workforce. CEO Elon Musk announced the layoffs in an internal memo seen by Bloomberg. Hurt by cooling demand for electric vehicles and mounting miscues, the automaker badly missed expectations for deliveries last quarter—its first decline since 2020. But that’s not all: Two senior executives are leaving Tesla, and the company is halting deliveries of its new Cybertruck due to an “unexpected delay.” A Cybertruck owner went viral over the weekend for detailing how his car’s accelerator pedal cover came loose and jammed the accelerator in the full-throttle position.
  
  Caitlin Clark was selected as the first overall pick in the WNBA draft by the Indiana Fever.
  
  Retail sales smashed forecasts in March, showing that consumer spending remains strong despite inflation.
  
  Beijing half marathon organizers are investigating allegations that runners from Kenya and Ethiopia intentionally allowed China’s He Jie to win.
  
  Donald Trump’s criminal hush money trial began yesterday with jury selection.
  
  LA’s 101 freeway will be closed in some places for several weeks while the city builds “the world’s largest wildlife crossing.”
  
  David Chang apologized and said he and his culinary brand Momofuku will no longer try to trademark the term “chili crunch” after widespread backlash.
  
  
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for May delivery ...
  Benchmark U.S. crude oil for May delivery fell 25 cents to $85.41 per barrel Monday. Brent crude for June delivery fell 35 cents to $90.10 per barrel.
  
  Wholesale gasoline for May delivery fell 2 cents to $2.78 a gallon. May heating oil fell 4 cents to $2.65 a gallon. May natural gas fell 8 cents to $1.69 per 1,000 cubic feet.
  
  
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• Dow seals longest losing streak in 10 months as stocks fall amid Mideast tension
  U.S. stocks ended lower on Monday, with all three major indexes giving...
  U.S. stocks ended lower on Monday, with all three major indexes giving up earlier gains as investors monitored tensions in the Middle East.
  
  The Dow Jones Industrial Average shed about 248 points, or 0.7%, ending near 37,735.
  
  The S&P 500 Index shed around 61 points, or 1.2%, closing near 5,061.
  
  The Nasdaq Composite finished about 290 points lower, or 1.8%, near 15,885.
  
  Both the S&P 500 and Nasdaq closed below their 50-day moving averages.
  
  
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• EQT, Equinor Agree to Massive Appalachia Acreage Swap
  EQT (EQT) announces a non-operated asset transaction with Equinor, selling...
  EQT (EQT) announces a non-operated asset transaction with Equinor, selling a 40% interest in its natural gas assets in Northeast Pennsylvania for $500 million cash and assets. The deal includes forecasted 2025 net production of 225 MMcf/d, with EQT expecting $75 million in 2025 free cash flow from non-cash consideration. The transaction also involves acquiring assets in Ohio and Pennsylvania, with a gas buy-back agreement with Equinor. The deal is valued at over $1.1 billion, aiming to achieve de-leveraging goals.
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• Government just moved to make it cost more for drilling on public lands
  The Biden administration’s continued war on the oil and gas industry...
  The Biden administration’s continued war on the oil and gas industry took another step on Friday when the Interior Department finalized a new federal rule that will likely increase the cost of drilling on public lands. It came as the White House just took an opposite step to help renewable energy production on the same land.
  
  Under the rule, the government’s share of the profit from the oil will increase. The royalty rate will be bumped from 12.5% to 16.67% and the rent charged to oil companies to drill on public land will also be increased.
  
  That’s not all. The administration is increasing the minimum bid that companies can place to win leases to drill on public land.
  
  While the White House is going after oil and gas, it is doing just the opposite for renewable energy. The new rule was announced a day after Biden’s administration moved to cut costs for producing renewable energy on public land, according to The Hill.
  
  Source: OK Energy Today
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