Benchmark U.S. crude oil for September delivery ...
Benchmark U.S. crude oil for September delivery fell 58 cents to $72.94 per barrel on Monday, and Brent crude for October delivery fell 51 cents to $76.30 per barrel.
Wholesale gasoline for September delivery rose 1 centto $2.33 a gallon. September heating oil fell 2 cents to $2.30 a gallon. September natural gasfell 3 cents to $1.94 per 1,000 cubic feet.
ExxonMobil's $63 billion acquisition of Pioneer Natural Resources drove its Permian Basin oil production to a record 1.2 million barrels of oil equivalent per day in the second quarter, while earnings came in at $2.14 per share, surpassing forecasts. Exxon expects to spend $28 billion this year, an increase of 12%, and produce an average total output of over 4 million barrels per day.
Enbridge to grow Texas oil, gas pipeline capacities
Enbridge will move forward with a project to expand its Gray Oak crude...
Enbridge will move forward with a project to expand its Gray Oak crude oil pipeline in Texas by 120,000 barrels per day, with completion set for 2026, after receiving sufficient shipper interest during a recent open season. The company also plans to build the 2.5-Bcf/d Blackcomb natural gas pipeline from the Permian Basin to the US Gulf Coast and increase storage capacity at its Corpus Christi export facility by 2 million barrels.
The S&P 500 tumbled toward correction territory early Monday as U.S. stocks built on last week's tumble. A correction is defined as a pullback of at least 10%, but not more than 20%, from a recent high (a drop of 20% marks the start of a bear market).
The S&P 500 was down 3.1%, nearly 5,183, after trading below 5,120 on early Monday. A close at or below 5,100.48 would mark a 10% fall from the large-cap benchmark's record finish of 5,667.20 seen on July 16, according to Dow Jones Market Data.
Anti-immigrant rioters tried to break into a Holiday Inn Express housing...
Anti-immigrant rioters tried to break into a Holiday Inn Express housing asylum-seekers in the English town of Rotherham as violence from far-right agitators expanded to multiple cities over the weekend. Prime Minister Keir Starmer condemned the “far-right thuggery” that has broken out following the stabbing deaths of three girls last month, spurred by false rumors that the 17-year-old suspect was a Muslim and an immigrant. A main figure rallying the activists is Stephen Yaxley-Lennon, better known as Tommy Robinson, who was banned by Twitter in 2018 but reinstated by Elon Musk after he acquired the company.
