OklahomaMinerals.com

Snippets

• Energy Sector Commentary for Friday
  The energy sector is off to a...

  The energy sector is off to a mixed to higher start, supported by strength in the crude complex and in the major equity futures. U.S. stock index futures turned higher as data showed July job growth in the United States was softer-than-expected, but retained enough momentum to likely shield the economy from a recession amid aggressive tightening by the Federal Reserve.

  
  

  WTI and Brent crude oil futures are trading higher for the second-straight session after Saudi Arabia and Russia, the world's second and third-largest crude producers, pledged to cut output through September. Following the meeting of an OPEC+ ministerial panel, the group made no changes to the current oil output policy after a Saudi decision to extend its voluntary production cut into September helped oil prices rally further. The group's output cuts, excluding the additional voluntary reductions from the three producers, amount to 3.66 million bpd, roughly 3.6% of global demand. The JMMC will hold its next meeting on Oct. 4.

  
  

  Natural gas futures are down in early trading, retreating from yesterday’s gains while the NOAA's 6-10 day outlook shows above-normal temps across most of the western and southern US, especially over southeastern NM and western TX.

  Read More
• U.S. adds 187,000 jobs in July and points to slowdown in hiring
  The numbers: The U.S. added a more modest 187,000 new jobs in July, perhaps a sign...
  The numbers: The U.S. added a more modest 187,000 new jobs in July, perhaps a sign the economy is cooling enough to drive inflation lower and even stave off further increases in interest rates.
  
  Employment growth has fallen below 200,000 two months in a row for the first time since the onset of the pandemic in 2020.
  

  
  
  The unemployment rate, meanwhile, dipped to 3.5% from 3.6%, the government said Friday.  After the report, stocks rose and bond yields fell.
  
  
  Read More
• Kimbell Royalty Partners Announces $14.00 Per Share Public Offering
  Kimbell Royalty Partners announced the pricing...
  Kimbell Royalty Partners announced the pricing of its public offering of 7.25 million common units representing limited partner interests, according to an Aug. 2 press release.
  
  The public offering price is $14.00 per common unit. The company anticipates total gross proceeds of approximately $101.5 million. Additionally, the underwriters have been given the option to purchase up to 1.087 million more units at the public offering price less the underwriting discount and commissions. The offering is anticipated to close on Aug. 7.
  Read More
• ☕️What Else is Brewing Friday Morning
  Warner Bros. Discovery said it saved more than $100 million in the second quarter due to the ...
  Warner Bros. Discovery said it saved more than $100 million in the second quarter due to the Hollywood actors and writers' strikes. Also, the company is reportedly considering adding a live sports tier to its Max streaming service.
  
  AP Psychology courses have been “effectively banned” in Florida due to their LGBTQ content, the College Board said.
  
  Two US Navy sailors were arrested on charges they spied for China.
  
  Tom Brady became a minority owner of English second-tier soccer team Birmingham City Football Club.
  
  The average height of winter waves in California has grown about a foot since 1969 thanks to climate change, new research found.
  
  Taylor Swift is coming to Canada after all. The singer added more North American dates for her Eras Tour this fall, including six shows in Toronto.
  
  
  Read More
• 📱Apple’s sales are slumping
  The iPhone-maker reported its third straight quarter of ...
  The iPhone-maker reported its third straight quarter of revenue declines as fewer people join the blue-text mafia. But while Apple is struggling to sell iPhones, it’s doing a great job monetizing its existing customers. The services unit—home to the App Store, Apple TV+, Apple Music, and more—hit a record $21 billion in sales. Amazon was the other Big Tech company to report earnings yesterday: Its glowing financials knocked Wall Street’s socks off.
  Read More

• Prev
• Next