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Energy, Oil, Financing, Banks, Wall Street, Lending, Fossil Fuel

Energy, Oil, Financing, Banks, Wall Street, Lending, Fossil Fuel

Energy Lending Shrinks as Upstream Spending Declines

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

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Oil slips 1% on large build in US crude stocks; market watches Middle East
Oil prices fell on Wednesday after data showed U.S. crude...
Oil prices fell on Wednesday after data showed U.S. crude inventories rose by more than expected even as refining activity rebounded, though futures remained up about 2% this week as traders factored in the continuing conflict in the Middle East.

Brent crude futures settled at $74.96, down $1.08, or 1.42%. U.S. West Texas Intermediate crude futures settled down 97 cents, or 1.35%, to $70.77.

U.S. crude inventories rose by 5.5 million barrels to 426 million barrels in the week ended Oct. 18, the Energy Information Administration reported on Wednesday, exceeding analysts' expectations in a Reuters poll for a 270,000-barrel rise.

"The large crude oil inventory build this week is offsetting last week's drop. But a lot of this is a result of the rebound in crude oil imports, which had to do with the hurricane," said Andrew Lipow, president of Lipow Oil Associates, referring to the previous week's drawdown due to lower imports and demand post-Hurricane Milton.
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Major U.S. stock indexes all close lower as 10-year yield ends at 3-month high
The Dow Jones Industrial Average and S&P 500 finished...
The Dow Jones Industrial Average and S&P 500 finished lower for a third straight session on Wednesday, joined by the Nasdaq Composite, as investors fretted about rising Treasury yields and the possible outcome of the Nov. 5 presidential election.

The Dow Jones Industrial Average finished down by 409.94 points, or almost 1 %, at 42,514.95, based on preliminary data. That's the biggest one-day decline since Sept. 6. The Dow briefly dropped by as much as 631.72 points during Wednesday's trading, and finished at its lowest closing level in about two weeks.

The S&P 500 Index closed down by 53.78 points, or 0.9%, at 5,797.42. That was the index's worst one-day performance since Oct. 7.

The Nasdaq Composite ended down by 296.47 points, or 1.6%, at 18,276.65. Wednesday's closing level was the lowest since Oct. 8.
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Hurricane Kristy tracker: See path of storm expected to strengthen, remain away from land
Hurricane Kristy intensified to Category 2 in the Pacific Ocean Wednesday, with sustained winds of 100...
Hurricane Kristy intensified to Category 2 in the Pacific Ocean Wednesday, with sustained winds of 100 mph. Located 595 miles SW of Baja California, the storm is moving westward and is forecast to become a major hurricane later today. Currently tracking over open waters, Kristy poses no threat to land and no coastal warnings are in effect.

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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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