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• ☕️What Else is Brewing Monday Morning
  Powell heads to Capitol Hill: Federal Reserve Chair...
  Powell heads to Capitol Hill: Federal Reserve Chair Jerome Powell will give updates on the economy to Congress on Tuesday and Wednesday, where he’ll likely be asked about the prospect of interest rate cuts. Those plans could become clearer on Thursday, when the consumer price index inflation report drops.
  
  Heat waves are baking the US West Coast with record-breaking temperatures and unleashing gross humidity in the Northeast. In Death Valley, CA, which could hit 130 degrees Fahrenheit early this week, it’s too hot to fly rescue helicopters.
  
  Meta’s Twitter clone, Threads, has 175 million monthly users one year after its launch, CEO Mark Zuckerberg said.
  
  Oscar-winning producer Jon Landau, who worked on blockbusters such as Avatar and Titanic, died at 63.
  
  Sherpas began cleaning up garbage on Mount Everest after the climbing season ended in a project that’s expected to take years. They already found 11 tons of trash, a skeleton, and four dead bodies, per the AP.
  
  Nascar debuted its first electric racecar in Chicago, which hosted a street race this weekend for the second year.
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• Guyana receives eight bids for offshore exploration following recent oil and gas boom
  Upstream Online says the Guyanese government has received eight...
  Upstream Online says the Guyanese government has received eight bids from international contractors for an offshore 3D seismic campaign following massive oil and gas discoveries in the country’s prolific waters.
  
  Georgetown aims to acquire 3D seismic data to aid in exploring and developing oil and gas resources in the Guyana-Suriname basin. This data will also be used for future bidding and licensing rounds.
  
  Vice President Bharrat Jagdeo mentioned that the government is running a pre-qualification process. Afterward, companies will be invited to submit commercial offers. Jagdeo hopes that 3D seismic studies will be available for all unallocated areas.
  
  In the 2023 competitive bid round, eight out of 14 offshore exploration blocks received bids, with contracts awarded to companies like ExxonMobil and TotalEnergies.
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• US drillers add oil and gas rigs for first time in 7 weeks
  According to Baker Hughes, an Energy Services firm, U.S. energy firms...
  According to Baker Hughes, an Energy Services firm, U.S. energy firms added oil and natural gas rigs for the first time in seven weeks this week, according to its closely followed report on Friday.
  
  The total oil and gas rig count, an early indicator of future output, rose by four to 585 in the week to July 5.
  
  Despite this week's rig increase, Baker Hughes said the total count was still down 95 rigs, or 14%, below this time last year.
  
  Baker Hughes said oil rigs were unchanged at 479 this week, holding at its lowest since December 2021, while gas rigs rose by four to 101.
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• France’s Far Right Is Denied a Majority by a Left Surge in Elections, Projections Show
  The left was...

  The left was set to surge in legislative elections in France on Sunday and the far right to come up short of expectations, according to early projections, as no party secured an absolute majority.

  
  

  In a surprising performance, the left-wing coalition, the New Popular Front, emerged as a front-runner for the most seats in two early projections, though the final results could change the picture.

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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for August delivery ...
  Benchmark U.S. crude oil for August delivery fell 72 cents to $83.16 per barrel Friday. Brent crude for September delivery fell 89 cents to $86.54 per barrel.
  
  Wholesale gasoline for August delivery fell 4 cents to $2.56 a gallon. August heating oil fell 3 cents to $2.60 a gallon. August natural gas fell 10 cents to $2.32 per 1,000 cubic feet.
  
  
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