OklahomaMinerals.com

Snippets

• CNBC Daily Open: The S&P 500 may hit a record high
  Major U.S. stock indexes ended...
  Major U.S. stock indexes ended Thursday in the green, their fourth consecutive day of gains. Asia-Pacific markets traded higher Friday. Singapore’s Straits Times Index climbed 0.3% after advanced estimates showed the country’s economy growing 0.3% quarter on quarter, avoiding a technical recession. Separately, Australia appointed Michele Bullock as its next central bank governor, making her the first woman to lead the Reserve Bank of Australia.
  
  Tom Lee, who correctly called the stock market rally after June’s softer-than-forecast inflation report, has a modest target for the S&P. But he agrees that it could hit a record high — if recessionary fears can be dispelled by a strong earnings season.
  Read More
• Closing Oil & Gas Prices for Thursday
  Benchmark U.S. crude oil for August delivery...
  Benchmark U.S. crude oil for August delivery rose $1.14 to $76.89 a barrel Thursday. Brent crude for September delivery rose $1.25 to $81.36 a barrel.
  
  Wholesale gasoline for August delivery rose 1 cent $2.68 a gallon. August heating oil rose 1 cent to $2.61 a gallon. August natural gas fell 8 cents to $2.55 per 1,000 cubic feet.
  
  
  Read More
• EIA reports weekly gains for U.S. crude and distillate supplies
  The Energy...
  The Energy Information Administration on Wednesday reported that U.S. commercial crude inventories climbed by 5.9 million barrels for the week ended July 7. On average, analysts polled by S&P Global Commodity Insights expected the report to show a decline of 1 million barrels. The EIA report also revealed that weekly inventories of gasoline were generally unchanged last week, while distillate supplies increased by 4.8 million barrels. Analysts had forecast a weekly fall of 1.1 million barrels for gasoline and an increase of 150,000 barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub fell by 1.6 million barrels for the week, the EIA said.
  Read More
• Weekly Natural Gas Storage Report Summary
  Working gas in storage was 2,930 Bcf as of Friday, July 7, 2023, according to EIA estimates. This represents...
  Working gas in storage was 2,930 Bcf as of Friday, July 7, 2023, according to EIA estimates. This represents a net increase of 49 Bcf from the previous week. Stocks were 569 Bcf higher than last year at this time and 364 Bcf above the five-year average of 2,566 Bcf. At 2,930 Bcf, total working gas is within the five-year historical range.
  
  Source: EIA
  Read More
• S&P 500 ends above 4,500 level for first time in 15 months
  Stocks rose for a fourth day in a row on Thursday, a day ahead...
  Stocks rose for a fourth day in a row on Thursday, a day ahead of second-quarter earnings from America’s biggest lenders.
  
  The Dow Jones Industrial Average DJIA rose about 46 points, or 0.1%, ending near 34,394, according to preliminary data from FactSet. But the S&P 500 index SPX gained 0.9% to end at 4,509, clearing the 4,500 mark for the first time since April 5, 2022 when it ended at 4,545.86, according to Dow Jones Market Data. The Nasdaq Composite Index COMP scored another blockbuster day, up 1.6%. Investors have been optimistic as inflation pressures ease and as perhaps the best-telegraphed U.S. economic recession in recent history has yet to materialize. The S&P 500 and Nasdaq have been charging higher on buzz about AI technology, with much of this year’s stock-market gains fueled by a small group of stocks.
  Read More

• Prev
• Next