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• What Else is Brewing Thursday Morning
  Food delivery company Daily Harvest is recalling its lentil and leek crumbles dish after customers complained on social media that it gave them stomach problems.
  
  Google and NBCUniversal are the leading candidates to work with Netflix on developing an ad-supported tier, per the WSJ.
  
  Elon Musk called Tesla’s new factories in Germany and Texas “gigantic money furnaces” that are losing billions of dollars.
  
  Americans gave $485 billion to charity in 2021, a new record (but not enough to keep pace with inflation)
  
  
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• Chesapeake Energy doubles share buyback to $2 billion
  Chesapeake Energy announced Wednesday it is doubling its share repurchase program from $1 billion...
  Chesapeake Energy announced Wednesday it is doubling its share repurchase program from $1 billion to $2 billion.
  
  The company said its Board of Directors reached the decision to offer up to $2 billion in the aggregate value of its common stock and/or warrants through the end of 2023.
  
  To date, under its previously authorized program, Chesapeake has repurchased approximately 5.4 million shares of its common stock at an average price of approximately $89 per share.
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• Closing oil and gas prices for Wednesday
  Benchmark U.S. crude oil for August...

  Benchmark U.S. crude oil for August delivery fell $3.33 to $106.19 a barrel Wednesday. Brent crude for August delivery fell $2.91 to $111.74 a barrel.

  
  

  Wholesale gasoline for July delivery rose 4 cents to $3.83 a gallon. July heating oil rose 4 cents to $4.40 a gallon. July natural gas rose 5 cents to $6.86 per 1,000 cubic feet.

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• API Reports Biggest Crude Oil Inventory Rise Since February
  The American Petroleum Institute (API) reported a build this week for crude oil of 5.607 million...
  The American Petroleum Institute (API) reported a build this week for crude oil of 5.607 million barrels, while analysts predicted a draw of 1.433 million barrels.
  
  It is the first build over 5 million barrels since mid-February, according to API data. The build comes as the Department of Energy released 6.8 million barrels from the Strategic Petroleum Reserves in Week Ending June 17.
  
  U.S. crude inventories have shed some 68 million barrels since the start of 2021 and about 11 million barrels since the start of 2020, according to API data.  In the week prior, the API reported a build in crude oil inventories of 736,000 barrels after analysts had predicted a draw of 1.2 million barrels.
  
  Cushing saw a decrease of 390,000 barrels this week. Cushing inventories slipped to 22.615 million barrels in the week prior, as of June 10, according to EIA data—down by nearly two-thirds from 59.2 million barrels at the start of 2021, and down from 37.3 million barrels at the end of 2021.
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• Argentina Notches Record Shale Production, Backed by Vaca Muerta Boost
  Argentina’s output of oil and gas from shale rose to record levels in May, the government said on June...
  Argentina’s output of oil and gas from shale rose to record levels in May, the government said on June 21, bolstering hopes that its massive Vaca Muerta shale formation can help reverse a costly energy deficit that has strained public coffers.
  
  Unconventional oil production averaged approximately 241,000 bbl/d, a 57% jump from the same time last year. Shale gas production, meanwhile, averaged approximately 76 million cubic meters per day, a year-on-year increase of 39%.
  
  “We have a constantly growing sector, thanks to the strong boost we gave Vaca Muerta,” Energy Secretary Dario Martinez said in a statement.
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