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• APA Corp. Declares Regular Cash Dividend
  Houston-based E&P APA Corp. has declared...
  Houston-based E&P APA Corp. has declared a regular cash dividend of $0.25 per share of the company’s common stock.
  
  The dividend is unchanged from the company’s Aug. 22 payout of $0.25.  The dividend will be payable Nov. 22 to stockholders of record Oct. 23.
  
  The dividend is part of a trend of energy companies using their hefty free cash flows for robust returns of capital to shareholders.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for October delivery...
  Benchmark U.S. crude oil for October delivery fell 32 cents to $88.52 a barrel Wednesday. Brent crude for November delivery fell 18 cents to $91.88 a barrel.
  
  Wholesale gasoline for October delivery rose 1 cent to $2.74 a gallon. October heating oil rose 11 cents to $3.44 a gallon. October natural gas fell 6 cents to $2.68 per 1,000 cubic feet.
  
  
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• Dow posts back-to-back drop, S&P 500 climbs after inflation gauge ticks higher
  The Dow posted a back-to-back loss on Wednesday after a gauge...
  The Dow posted a back-to-back loss on Wednesday after a gauge of consumer inflation for August rose on the back of higher energy costs, while the S&P 500 and Nasdaq Composite ended with modest gains. The Dow Jones Industrial Average DJIA shed about 70 points, or 0.2%, ending near 34,565. That marked its second day in a row of declines. The S&P 500 Index SPX added 0.1% and the Nasdaq Composite Index COMP finished at a 0.3% gain. Both the Dow and S&P 500 struggled for direction earlier Wednesday, with both indexes flipping between small gains and losses as investors considered whether the Federal Reserve will be promoted to increase its policy rate any further this year to tamp down inflation further. Its benchmark rate was increased to a 22-year high in July. The consumer price index for August showed the yearly rate of inflation climbed to 3.7% from 3.2% in July, and up from a 27-month low of 3% in June.
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• IEA: Demand for oil and gas to peak by 2030
  The International Energy Agency has forecast a ...
  The International Energy Agency has forecast a peak in oil, natural gas, and coal demand before 2030, signaling the start of the decline of the fossil fuel era. IEA head Fatih Birol emphasized the importance of accelerating the energy transition through stronger climate policies to meet climate goals and avoid stranded fossil fuel assets.
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• Energy Commentary for Wednesday Morning
  The energy sector is off to a...

  The energy sector is off to a mixed-to-higher start, supported by strength in the underlying commodities. Pre-market gains have been limited for energy stocks amid weakness in major equity futures which are lower following the release of hotter-than-expected August CPI data.

  
  

  WTI and Brent crude oil futures are extending multi-month highs on concerns over tight supply. Yesterday, the IEA said recent output cuts from Saudi Arabia and Russia will lock in a substantial market deficit through the fourth quarter. The tight market supply is being reflected in the spread between front-month Brent contracts and contracts for delivery six months further which is at $4.68, a width not breached since last November. Additionally, OPEC on Tuesday stuck to its forecasts for robust growth in global oil demand in 2023 and 2024. Traders will now be waiting for this morning’s EIA data as last night’s API release showed builds in crude, gasoline, and distillates.

  
  

  Natural gas futures are higher on lower production and expectations for a colder winter, which should increase heating demand.

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