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• ☕️What Else is Brewing Tuesday Morning
  Target will lower prices on 5,000 items to get shoppers shopping. The...
  Target will lower prices on 5,000 items to get shoppers shopping. The retailer said it has already cut prices on 1,500 popular purchases and will continue to slash more, including grocery staples, over the summer. The lowered prices come as consumers have been stretched thin by inflation, leading even some with big budgets to turn to Target’s competitor, Walmart. The move appears timed to Target announcing its quarterly earnings tomorrow, but it isn’t the only company trying to offer deals to win back wary spenders. McDonald’s, for example, has plans to roll out a $5 meal deal soon.
  
  FDIC Chair Martin Gruenberg will resign after an investigation found widespread sexual harassment at the agency. But he won’t step down until a successor is named, avoiding passing the reins to his Republican vice chair.
  
  The helicopter crash that killed Iranian President Ebrahim Raisi was caused by a “technical failure,” state media reported.
  
  Julian Assange, the founder of WikiLeaks, can appeal an order calling for his extradition to the US on espionage charges, a UK court ruled, further prolonging his legal battle.
  
  Ivan Boesky, who was convicted of insider trading and helped inspire the character Gordon Gekko, died yesterday at age 87.
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• Permian constraints inspire creative drilling strategies
  Permian Basin land constraints...
  Permian Basin land constraints are driving operators to develop innovative solutions for drilling longer laterals, Apache Corp CEO John Christmann said in an interview. "[...] I think you'll see more and more creative geometries as you're trying to get well bores in very productive landing zones, where you can get more exposure to length and so forth, and design your fracs to develop as much rock efficiently for as lowest amount of capital as possible," Christmann said.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for June delivery ...
  Benchmark U.S. crude oil for June delivery fell 26 cents to $79.80 per barrel Monday. Brent crude for July delivery fell 27 cents to $83.71 per barrel.
  
  Wholesale gasoline for June delivery fell 3 cents to $2.54 a gallon. June heating oil was unchanged at $2.49 a gallon. June natural gas rose 12 cents to $2.75 per 1,000 cubic feet.
  
  
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• S&P 500, Nasdaq score record highs, while Dow retreats from 40K-point milestone
  U.S. stocks ended mixed on Monday, as the Dow Jones Industrial Average...
  U.S. stocks ended mixed on Monday, as the Dow Jones Industrial Average retreated after ending last week above the 40,000 milestone.
  
  The Dow Jones ended about 0.5% lower. The S&P 500 finished 0.1% higher and the Nasdaq Composite went up 0.7% to its ninth-record close this year.
  
  
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• Seadrill Sells Three Jackups for $338MM to Gulf Drilling International
  Seadrill Ltd. has agreed to sell its Qatar...
  
  
  Seadrill Ltd. has agreed to sell its Qatar jackup fleet and its 50% equity interest in the joint venture that operates these rigs offshore Qatar to joint venture partner Gulf Drilling International (GDI) for $338 million.
  
  The sale of the three jack-up rigs—the West Castor, the West Telesto, and the West Tucana, is subject to certain conditions, including approval or non-objection of the Qatar Financial Centre Authority and approval of the shareholders of GDI’s parent company.
  
  The deal is expected to close in the third quarter of 2024.
  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  
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