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• REUTERS: US drillers cut oil and gas rigs for eighth week in a row
  U.S. energy firms this week cut the number...

  U.S. energy firms this week cut the number of active oil and natural gas rigs for an eighth week in a row. The total oil and gas rig count, an early indicator of future production, fell by one to 631 in the week to Sept. 1, its lowest since February 2022.

  
  

  U.S. oil rigs were unchanged at 512 this week, holding at its lowest since February 2022, while gas rigs fell one to 114, their lowest since January 2022.

  
  

  U.S. oil futures were up about 6% so far this year after gaining about 7% in 2022. U.S. gas futures, meanwhile, have plunged about 37% so far this year after rising about 20% last year.

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• Congress returns to session on Tuesday — with a government shutdown on the table
  U.S. lawmakers are due to get back to work Tuesday on Capitol...
  U.S. lawmakers are due to get back to work Tuesday on Capitol Hill, and there are growing expectations that one fruit of their labors will be a partial government shutdown.
  
  There have been six government shutdowns since 1978 that lasted five days or more, and the S&P 500 stock index SPX gained in the four most recent shutdowns. Brian Gardner, chief Washington policy strategist at Stifel, emphasized that history in a note to clients.
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• Closing Oil & Gas Prices for Friday
  Benchmark U.S. crude oil for October delivery...
  Benchmark U.S. crude oil for October delivery rose $1.92 to $85.55 a barrel Friday. Brent crude for November delivery rose $1.72 to $88.55 a barrel.
  
  Wholesale gasoline for October delivery rose 2 cents to $2.59 a gallon. October heating oil was unchanged at $3.11 a gallon. October natural gas was unchanged at $2.77 per 1,000 cubic feet.
  
  
  
   
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• Dow, S&P end day higher as jobs data boost hopes for Fed pause
  U.S. stocks closed mostly higher on Friday, capping off a week...
  U.S. stocks closed mostly higher on Friday, capping off a week of gains before the Labor Day holiday. The Dow Jones Industrial Average DJIA rose about 116 points, or 0.3%, ending near 34,838, while the S&P 500 Index SPX gained 0.2% and the Nasdaq Composite Index COMP ended virtually flat. Investors cheered signs of slowing in the labor market, with an August jobs report showing the U.S. added more jobs for the month, but the unemployment rate ticked up to 3.8% from 3.5% a month before. So far, the U.S. has added almost 26 million jobs in roughly three years, a figure that’s about equivalent to the size of Australia’s economy, according to BlackRock. For the week, the Dow gained 1.4%, the S&P 500 added 2.5% and the Nasdaq climbed 3.3%, according to FactSet.
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• Global wind turbine orders hit 69.5 GW high in 1H23
  Global wind turbine order intake reached new highs in 1H23, with...
  Global wind turbine order intake reached new highs in 1H23, with 69.5 GW of activity, a 12% increase year-over-year, according to a new analysis from Wood Mackenzie.
  
  A big driver of this activity was orders from outside of China, which saw more than 25 GW of order demand for a 47% increase year-over-year through 1H23. North America saw orders reach 7.7 GW, more than quadrupling 1H22’s total of 1.9 GW, with two offshore orders accounting for 49% of the total. China overwhelmingly remains the largest market, with 44 GW of activity in 1H23, but demand was flat year-over-year. In total, orders accounted for US$25.3 billion in 2Q23, and US$40.5 billion in 1H23.
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