SPR release: I'll update this and provide some links later, if the spirit moves me.
GOOG and MSFT both miss. Details later. Screenshot now.
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Back to the Bakken
SPR release: the release continues; one million bbls/day to be sold; twenty million bbls to be auctioned with the announcement today. I assume this takes us through most of August. This is a non-story; simply political in nature. There is no new authorization. This continues to be sales (not swaps) first authorized in March, 2022.
WTI: $94.98. Dropped from a high of $98 during the early morning before the SPR release was announced.
Natural gas: rose 3%; not affected by the SPR release. Closed at $8.993. Would be much higher, all things being equal, if Freeport LNG export terminal were open. Whether Freeport opens any time soon is now a political decision. My hunch: won't re-open until European winter emergencies, earliest being January, 2023.
Active rigs: 45 or thereabouts.
No new permits.
Four permit renewals:
- Zavanna: four King Charles permits in Williams County.
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