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• Closing Oil & Gas Prices for Friday
  Benchmark U.S. crude oil for September delivery...
  Benchmark U.S. crude oil for September delivery rose 49 cents to $80.58 a barrel Friday. Brent crude for September delivery rose 75 cents to $84.99 a barrel.
  
  Wholesale gasoline for August delivery rose 1 cent $2.96 a gallon. August heating oil rose 4 cents to $2.96 a gallon. September natural gas rose 4 cents to $2.64 per 1,000 cubic feet.
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• Stocks end wild week in the green as Dow, S&P 500 log 3rd straight weekly gain
  U.S. stock indexes finished higher on Friday with...
  U.S. stock indexes finished higher on Friday with the Dow Jones Industrial Average and the S&P 500 closing out their third winning week in a row, bolstered by better-than-expected earnings from megacap technology companies and hopes that the Federal Reserve will tame inflation by hiking interest rates aggressively without causing a recession. The Dow Industrials DJIA rose 176 points, or 0.5%, to end at 35,459, posting a weekly gain of 0.7%. The S&P 500 SPX advanced 1%, while the Nasdaq Composite COMP rose over 2% for the week, according to Dow Jones Market Data.
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• EU approves €40m funding for Germany’s first onshore LNG terminal
  The European Commission has approved a €40m ($44.14m) support measure for the...

  The European Commission has approved a €40m ($44.14m) support measure for the construction and operation of Germany’s first onshore liquefied natural gas (LNG) terminal in Brunsbüttel.

  
  According to the European Commission, the funding will contribute to the security and diversification of energy supplies in Germany in a bid to help end dependence on Russian fossil fuels, in line with the bloc’s REPowerEU Plan. “The new LNG terminal in Brunsbüttel will improve gas supply and infrastructure in Germany,” EU State Aid Chief Margrethe Vestager said on Wednesday.
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• ☕️What Else is Brewing Friday Morning
  The European Central Bank took its cue from the Fed and raised interest rates to a 23-year high. Investors...
  The European Central Bank took its cue from the Fed and raised interest rates to a 23-year high. Investors think it could be the ECB’s last rate hike this cycle.
  
  The Mountain Valley Pipeline, a natural gas pipeline in the mid-Atlantic, was given the green light to proceed by the Supreme Court. It’s a controversial project that was a bargaining chip during debt-ceiling discussions.
  
  Bud Light parent Anheuser-Busch said it will lay off about 350 employees amid a rough stretch for the brand.
  
  Hundreds of thousands of Americans have developed an allergy to red meat because of a syndrome sparked by tick bites, according to new research from the CDC.
  
  Ukrainian fencer Olga Kharlan was disqualified from the world championships for refusing to shake her Russian competitor’s hand following a match that Kharlan won.
  
  
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• Stat: Welp—cheap gas prices were fun while they lasted
  The average price for a gallon in the US rose to an ...
  The average price for a gallon in the US rose to an eight-month high yesterday of $3.71, per AAA. While that’s far below last summer’s peak of $5.02 per gallon, gas prices have been creeping up due to refineries going offline unexpectedly and higher demand for oil at a time when supply isn’t there to meet it. Bloomberg Opinion’s oil guru, Javier Blas, notes that global oil consumption has likely reached a record high.
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