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• US drillers add oil rig for first time since June
  Sept 8 | U.S. energy firms this week increased the number of oil rigs...

  Sept 8 | U.S. energy firms this week increased the number of oil rigs operating for the first time since June while cutting the natural gas rig count, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday.

  
  

  The total oil and gas rig count, an early indicator of future output, rose by one to 632.  Despite this week's rig increase, Baker Hughes said the total count was still down 127, or 17%, below this time last year.

  
  

  U.S. oil rigs rose one to 513 this week, while gas rigs fell by one to 113, their lowest since January 2022. Miscellaneous rigs gained 1.

  
  

  After oil and gas prices soared following Russia's invasion of Ukraine last year, the U.S. rig count climbed to 784 by November 2022, but has since slumped by about 19% as prices fell earlier in the year.

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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 64 cents to $87.51 a barrel Friday. Brent crude for November delivery rose 73 cents to $90.65 a barrel.
  
  Wholesale gasoline for October delivery rose 3 cents to $2.65 a gallon. October heating oil rose 9 cents to $3.30 a gallon. October natural gas rose 3 cents to $2.61 per 1,000 cubic feet.
  
  
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• Stocks close slightly higher but can't salvage losing week
  U.S. stocks finished modestly higher on Friday, but Wall Street...
  U.S. stocks finished modestly higher on Friday, but Wall Street still suffered a losing week amid renewed concerns that the Federal Reserve may keep interest rates higher for longer. The S&P 500 SPX booked a 1.3% weekly loss, while the Dow Jones Industrial Average DJIA fell 0.8% and the Nasdaq Composite COMP dropped 1.9% for the week. All three major indexes logged their worst weekly decline since August 18, according to Dow Jones Market Data. Meanwhile, investors looked ahead to inflation data, with readings on the consumer-price index and producer-price index next week expected to offer further clues on the central bank’s rate decision at its next policy meeting.
  
  
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• $100 oil within striking distance if momentum continues, analysts say
  Oil at $100 per barrel is a possibility if momentum in the crude market keeps going, according to Wall...
  Oil at $100 per barrel is a possibility if momentum in the crude market keeps going, according to Wall Street analysts.
  
  “The notion of $100/bbl has evolved from completely unimaginable a few short months ago, to within striking (or hyping) distance today,” Michael Tran and Helmina Croft at RBC Capital Markets wrote in a note to investors on Thursday.
  
  Friday morning, West Texas Intermediate is trading at $87.50, up 63 cents, while Brent Crude was up 75 cents at $90.67.
  
  
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• ‼️Energy execs sound alarm over refining constraints
  Fuel price instability is on the rise as the global refining...
  Fuel price instability is on the rise as the global refining system faces strain from underinvestment and increasingly common unexpected shutdowns, leading energy executives said at the APPEC conference in Singapore. "Everyone knows there's no plan B. We have no stocks, and we have no excess capacity anywhere," Gunvor Group's Frederic Lasserre commented.
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