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• US drillers add oil and gas rigs for first time in four weeks
  This week, U.S. energy firms added oil and natural gas...

  This week, U.S. energy firms added oil and natural gas rigs for the first time in four weeks, energy services firm Baker Hughes. Despite this week's rig increase, the total count was still down 116, or 16% below this time last year.

  
  

  The total oil and gas rig count, an early indicator of future output, rose by one to 604 for the week of May 17.  Oil rigs rose by one to 497 this week, while gas rigs were unchanged at 103.

  
  

  The oil and gas rig count dropped about 20% in 2023 after rising by 33% in 2022 and 67% in 2021, due to a decline in oil and gas prices, higher labor and equipment costs from soaring inflation, and as companies focused on paying down debt and boosting shareholder returns instead of raising output.

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• ☕️What Else is Brewing Saturday Morning
  Severe storm in Houston knocks out power, kills at least seven. Thunderstorms...
  Severe storm in Houston knocks out power, kills at least seven. Thunderstorms that unexpectedly brought 100-mile-per-hour winds to Houston Thursday night left at least seven people dead and knocked out power to 900,000 homes and businesses. As of yesterday, some 650,000 remained without power across the area, many of whom might not see it restored for weeks. Gov. Greg Abbott said the state’s utility commission was working with energy providers to get power back as quickly as possible, with temperatures expected to reach the 90s this weekend.
  
  The Israeli army said it had found the bodies of three hostages killed during Hamas’s Oct. 7 attack, including 22-year-old Shani Louk, whose image was widely shared after the incident.
  
  GameStop stock plunged yesterday after the recently reinvigorated meme stock filed to sell 45 million new shares and revealed that sales were down last quarter.
  
  Supreme Court Justice Samuel Alito is facing calls to recuse himself from cases involving the January 6, 2021 riot after reports that an upside down American flag was flown outside his home in sympathy with Donald Trump’s “Stop the Steal” movement.
  
  A surveillance video obtained by CNN appears to show Diddy assaulting his then-girlfriend Cassie Ventura in 2016.
  
  Microsoft reportedly plans to release the next Call of Duty on its subscription service the day it drops, a change from how Activision sold the popular game that could leave hundreds of millions of dollars in game sales on the table.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for June delivery...
  Benchmark U.S. crude oil for June delivery rose 83 cents to $80.06 per barrel Friday. Brent crude for July delivery rose 71 cents to $83.98 per barrel.
  
  Wholesale gasoline for June delivery rose 3 cents to $2.57 a gallon. June heating oil rose 5 cents to $2.49 a gallon. June natural gas rose 13 cents to $2.63 per 1,000 cubic feet.
  
  
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• MarketWatch: Dow closes above 40K for first time ever, S&P 500 books 4th straight weekly gain
  U.S. stocks ended mostly higher Friday, with the Dow Jones Industrial...
  U.S. stocks ended mostly higher Friday, with the Dow Jones Industrial Average’s modest gains taking the blue-chip gauge to a finish above 40,000 for the first time ever.
  
  The Dow gained 134.21 points, or 0.3%, to close at 40,003.59, clinching a fresh record peak.
  
  The S&P 500 rose 6.17 points, or 0.1%, to end at 5,303.27.
  
  The Nasdaq Composite slipped 12.35 points, or 0.1%, to finish at 16,685.97.
  
  All three major indexes logged weekly gains as investors appeared encouraged by signs that U.S. inflation eased in April based on a May 15 reading from the consumer-price index. For the week, the Dow climbed 1.2%, the S&P 500 advanced 1.5% and the technology-heavy Nasdaq rose 2.1%.
  
  The S&P 500 and Nasdaq each increased for a fourth straight week, while the Dow notched a fifth straight week of gains. All three benchmarks scored their longest weekly winning streaks since the stretch ending Feb. 9, according to Dow Jones Market Data.
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• Cheniere nears operations at Corpus Christi Stage 3
  Cheniere Energy is advancing construction on its Corpus Christi Stage...
  Cheniere Energy is advancing construction on its Corpus Christi Stage 3 project, aiming for the first liquefied natural gas shipment by the end of the year and full operation of all seven trains by 2026. Additionally, the company is working toward regulatory approvals for midscale trains eight and nine at Corpus Christi, with plans to reach final investment decisions on them in 2025.
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