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Presidio, SPAC, Merger, Panhandle

Presidio, SPAC, Merger, Panhandle

Presidio Targets Public Debut in $660M SPAC Deal

Chevron, Exxon, Europe, Oil, Production

Chevron, Exxon, Europe, Oil, Production

Exxon, Chevron Raise Production as Europe Falls Behind

At least four tankers discharged millions of barrels of Russian crude at Indian refineries over the weekend, even as pressure ramps up by USA

At least four tankers discharged millions of barrels of Russian crude at Indian refineries over the weekend, even as pressure ramps up by USA

Tankers Deliver Russian Crude to India Despite USA and EU Pressure

Armstrong, Alaska, Oil, Energy, Conventional

Armstrong, Alaska, Oil, Energy, Conventional

Bill Armstrong Proves Alaska Oil Finds Aren’t Over

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API Reports Build in Crude Oil Inventories
The American Petroleum...
The American Petroleum Institute reported late Tuesday that crude inventories rose by 1.6 million barrels last week. Gasoline stocks dropped 2 million barrels, and distillates, which include heating oil and diesel fuel, declined 1.5 million barrels.

Analysts surveyed by S&P Global Commodity Insights, on average, expect the EIA to report crude stocks falling by 800,000 barrels in the week ended Oct. 18, with gasoline inventories down 2.1 million barrels and distillates down 2.4 million barrels.

Oil prices settled higher for the second consecutive session on Tuesday, as traders downplayed hopes of a Middle East ceasefire and focused on signs of improving demand from China, which could tighten market balances in the months ahead.

Brent crude futures for December gained $1.75, or 2.4%, to settle at $76.04 per barrel. U.S. West Texas Intermediate crude futures for November delivery rose by $1.53, or 2.2%, to $72.09 a barrel and expired after Tuesday's settlement.

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Agency gets more time to revise US Gulf biological opinion
US District Judge Deborah Boardman in Maryland has granted the National...
US District Judge Deborah Boardman in Maryland has granted the National Marine Fisheries Service an extension until May 2025 to update its biological opinion for oil and natural gas operations in the US Gulf of Mexico. The American Petroleum Institute welcomed the decision but warned that it offers only short-term relief and urged further action to safeguard US energy production.
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☕️What Else is Brewing Wednesday Morning
Kamala Harris is said to have the tacit support of Jamie Dimon, Bill Gates. JPMorgan...
Kamala Harris is said to have the tacit support of Jamie Dimon, Bill Gates. JPMorgan CEO Jamie Dimon wants Vice President Harris to win the election and would even consider joining her administration, according to the New York Times—but he will allegedly keep his preference private since he fears retaliation if former President Trump returns to office. In response, a JPMorgan spokesperson told the NYT that Dimon “has never publicly endorsed a presidential candidate.” Later in the day, the Times reported that Bill Gates, who also has not publicly endorsed a candidate, privately told people he donated $50 million to a nonprofit supporting Harris’s run.

Juul’s $300 million class action lawsuit is getting paid out, and some class members reportedly received thousands of dollars each.

Instagram and Threads banned accounts used to track celebrity jets across its platforms, including those of Mark Zuckerberg and Elon Musk, citing the risk of “physical harm.”

Ray-Ban parent company EssilorLuxottica said its Meta smart glasses are the top seller at 60% of stores in Europe, Africa, and the Middle East.

Alexei Navalny’s posthumous memoir, featuring his writings from prison, was released in the US.

One in five cancer patients in the US may be getting the wrong treatment, according to the president of the MD Anderson Cancer Center in Houston.

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Dow ends flat, S&P 500 posts first back-to-back loss since early September
U.S. stocks finished mixed on Tuesday with the S&P...
U.S. stocks finished mixed on Tuesday with the S&P 500 posting its first back-to-back loss since early September as investors weighed rising Treasury yields amid concerns about an increase in deficit after the upcoming presidential election.

The Dow Jones Industrial Average finished nearly flat, at around 42,924 as of 4 p.m. Eastern time, according to FactSet data.

The S&P 500 lost less than 0.1%, to end near 5,851.

The Nasdaq Composite rose 0.2%, to finish around 18,573.

The yield on the 10-year Treasury advanced 2.5 basis points to 4.204%, while the 30-year rate rose less than 1 basis point to 4.493%. Both 10- and 30-year yields finished Tuesday’s session at their highest levels since July 25, according to Dow Jones Market Data.
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Harris' campaign clarifies stance on drilling expansion
Vice President Kamala Harris'...
Vice President Kamala Harris' reversal of her past support for a fracking ban doesn't signal support for more fossil fuel drilling, according her climate engagement director, Camila Thorndike. Though Harris touted the historic rise in domestic oil production under the Biden administration, critics argue the industry's achievements happened in spite of federal policies, not because of them.

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