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• DAILY OIL PRICE: October 1, 2025
  Crude Oil: 61.78   (-0.59)....
  
  
  • Crude Oil: 61.78   (-0.59).
  
  
  • Nymex MTD AVG: 61.7800.
  
  
  • Natural Gas: 3.476   (+0.173).
  
  
  • Gasoline: 1.8859   (-0.0870).
  
  
  • Spreads: November/December (+0.39)     December/January (+0.25).
  
  
  • Plains WTI Posting: 58.26   (-0.59).
  
  

  
  Source: Odessa American
  
  
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• Dow, S&P 500 carve out new record closing highs despite government shutdown
  All three major U.S. stock indexes closed higher on Wednesday,...

  All three major U.S. stock indexes closed higher on Wednesday, with the Dow Jones Industrial Average and S&P 500 reaching fresh all-time highs, amid expectations that the government's temporary shutdown will end up being short and having a minimal economic impact.

  
  

  The Dow rose 43.21 points, or less than 0.1%, to finish at 46,441.10, based on preliminary data.

  
  

  The S&P 500 advanced 22.74 points, or 0.3%, to end at 6,711.20.

  
  

  The Nasdaq Composite climbed 95.15 points, or 0.4%, to close at 22,755.16.

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• Permian still fertile ground as O&G consolidation rolls on
  Consolidation in the oil patch is far from over, according to Tailwater...
  Consolidation in the oil patch is far from over, according to Tailwater E&P CEO Doug Prieto, who argues that smaller and mid-sized players stand to gain as majors offload assets. He pointed to the Permian Basin's expanding inventory of promising zones as evidence that opportunities remain plentiful. Diamondback Energy CEO Kaes Van't Hof echoed that view, noting that efficiency gains, expanded drilling horizons and new markets for natural gas are keeping the region profitable despite cost pressures.
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• Buffett Nearing $10B Deal for OxyChem, But Could Buy for a Penny
  Berkshire Hathaway could pick up Occidental...

  Berkshire Hathaway could pick up Occidental Petroleum’s chemicals unit—reportedly worth $10 billion—for a single penny in exchange for canceling the equivalent debt, preferred shares, and warrants, according to analysts.

  
  

  Oxy’s initial $10 billion in debt to the Warren Buffett-led conglomerate came from financing its $55 billion acquisition of Anadarko Petroleum in 2019 for cash, stock, and debt assumption.

  
  
  

  
  

  
  

  In addition to the note on the loan, Berkshire received preferred stock that pays an 8% dividend annually, as well as warrants.

  
  

  
  

  
  

  The Financial Times reported earlier this week that Oxy is looking to sell its chemicals business OxyChem to reduce debt, which is currently about $25 billion.

  
  
  

  
  

  On Sept. 30, The Wall Street Journal reported that the buyer might be Berkshire Hathaway, citing unnamed sources familiar with the matter.

  
  
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• Government Shuts Down After Senate Spending Votes Fail
  The government shut down on Wednesday morning at 12:01...

  The government shut down on Wednesday morning at 12:01 a.m., amid a bitter spending deadlock between President Trump and Democrats in Congress that will disrupt federal services and leave many federal workers furloughed.

  
  

  It was the first federal shutdown since 2019, when parts of the government were shuttered for 35 days in a standoff between congressional Democrats and Mr. Trump over the president’s demand to fund a wall at the southern border.

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