HOT OF THE PRESSES – New week brings new optimism in the stock market as equities market as each major indices finishes green, with NASDAQ finishing up 1.75% off the back of TikTok (yes, TikTok) US Operations gets sold (?) to Oracle (HAHAHA) pending US regulators approval. Telsa gets a bump from Goldman Sachs with a report citing increasing Chinese demand and Nvidia is buying chipmaker Arm Holdings from Softbank for $40 billion.
On the crude oil side, crude oil prices finish flat around $37.19 late in the morning trading session, with the Gulf of Mexico prepping for a Tropical Storm that will shut in at least one Philips 66 refinery. Natural gas prices rise off cooling temperatures and seasonal draws coming in. OAG360 expects a draw of natural gas stocks around 35 BCF on Thursday.
US Shale News
* Will Oasis make interest payment (https://www.fitchratings.com/research/corporate-finance/fitch-us-high-yield-default-insight-september-ttm-default-rate-holds-steady-top-bonds-of-concern-total-drops-again-11-09-2020)?
* Biofuel mandate waivers (https://www.spglobal.com/platts/en/market-insights/latest-news/oil/091420-us-epa-denies-17-small-refineries-waivers-to-2011-18-biofuel-mandates) DENIED by EPA
International
* BP Energy Week Update: Peak Oil Demand (https://www.oilandgas360.com/bp-energy-outlook-mulls-peak-oil-demand-covid-impact/) and Green Energy
* US Regulators split with EU/UK over ESG investing (https://www.oilandgas360.com/u-s-regulators-split-with-eu-u-k-over-esg-investing-the-energy-sector-is-at-the-forefront-of-esg/)
360 News Desk: https://www.oilandgas360.com/eenfp/newsdesk/
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