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• CNBC: Oil prices fall 2% on economic worries, technical decline
  U.S. crude oil futures fell more than 2% to close below $76 per barrel...
  U.S. crude oil futures fell more than 2% to close below $76 per barrel on Tuesday, after surging in the previous session on reports OPEC member Libya will halt production and exports.
  
  Libya produces about 1.2 million barrels per day with the overwhelming majority of its crude exported to the global market, and European nations serving as the main buyers. U.S. oil surged because it is the best substitute for importers looking to replace lost Libyan supply.
  
  But the U.S. benchmark is pulling back slightly as the market expects a gradual disruption rather than all of Libya’s production suddenly going offline, Sara Vakhshouri, founder of SVB Energy International, told CNBC’s “Capital Connection” on Tuesday.
  
  Here are Tuesday’s closing energy prices:
  
  West Texas Intermediate October contract: $75.53 per barrel, down $1.89, or 2.44%. Year to date, U.S. crude oil has gained 5.4%.
  
  Brent October contract: $79.55 per barrel, down $1.88, or 2.31%. Year to date, the global benchmark is ahead 3.3%.
  
  RBOB Gasoline September contract: $2.24 per gallon, down 3 cents, or 1.45%. Year to date, gasoline is ahead 6.8%.
  
  Natural Gas September contract: $1.90 per thousand cubic feet, down more than 5 cents, or 2.66%. Year to date, gas is down 24.3%.
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• Dow notches fresh record close as U.S. stocks edge upward
  U.S. stocks finished slightly higher on Tuesday after...

  U.S. stocks finished slightly higher on Tuesday after a quiet day of trading, as investors awaited a highly anticipated quarterly earnings report from the chip maker Nvidia Corp. on Wednesday and fresh inflation data due later in the week.

  
  

  The Dow Jones Industrial Average ended nearly flat, at around 41,250, to notch a new record close. The blue-chip index has scored 24 all-time closing highs so far in 2024, according to Dow Jones Market Data.

  
  

  The S&P 500 finished up less than 0.2%, at around 5,625.

  
  

  The Nasdaq Composite was up less than 0.2%, ending near 17,754.

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• National Hurricane Center tracking new disturbance in central Atlantic
  The area of low pressure could form in the central portion of the Tropical...
  The area of low pressure could form in the central portion of the Tropical Atlantic in a few days, according to the NHC, where environmental conditions appear "generally favorable" for slow development of the system this weekend into early next week.
  
  According to the hurricane center, the disturbance is forecast to move westward to west-northwestward at 10 to 15 miles per hour and has a 20 percent chance of formation over the next seven days.
  
  So far this year, including the three that are spinning Monday, there have been more storms in the Pacific than the Atlantic, and that's a bit of a surprise, forecasters say. In addition, it's been eerily calm in the Atlantic over the past week or so as we approach what's traditionally the busiest time of the season.
  
  
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• Platts to track Vancouver-West Coast oil freight rates
  S&P Global's Platts commodities unit will introduce a daily freight...
  S&P Global's Platts commodities unit will introduce a daily freight assessment in October for Aframax tankers transporting crude oil from Vancouver to the US West Coast. The move responds to surging crude shipments on that route following the startup of the Trans Mountain oil pipeline expansion.
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• Oil firms optimize artificial lift with AI, ML
  Oil companies like Occidental Petroleum and Chevron are integrating AI...
  Oil companies like Occidental Petroleum and Chevron are integrating AI and machine learning into their artificial lift systems to boost production and predict equipment failures, yet human expertise remains crucial for managing the complexities of well operations. Cost constraints, particularly with marginal wells, drive the industry to focus automation efforts on areas with the greatest impact, ensuring a strategic balance between technology investment and economic viability.
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