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• U.S. oil and gas rig count reaches lowest level in over two years
  Energy companies in the United States have reduced the number of operating...
  Energy companies in the United States have reduced the number of operating oil and natural gas rigs for the second consecutive week, reaching the lowest count since January 2022, according to Baker Hughes' latest report, as reported by Reuters.
  
  The total count of oil and gas rigs dropped by eight to 605 in the week ending May 3, marking the most substantial weekly decline since September 2023. Baker Hughes noted a significant decrease compared to the same period last year, with the overall rig count down by 143, a decline of 19%.
  
  Breaking down the numbers, Baker Hughes reported a decrease of seven oil rigs to 499 for the week, representing the most substantial weekly drop since November 2023. Meanwhile, the count for gas rigs dipped by three, to 102, reminiscent of figures seen in December 2021.
  
  
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• Dow jumps 450 points, S&P 500 scores back-to-back weekly gains after jobs report
  U.S. stocks closed sharply higher Friday, as Treasury yields fell after...
  U.S. stocks closed sharply higher Friday, as Treasury yields fell after a softer-than-anticipated April jobs report.
  
  The Dow Jones Industrial Average climbed 450.02 points, or 1.2%, to finish at 38,675.68.
  
  The S&P 500 gained 63.59 points, or 1.3%, to end at 5,127.79.
  
  The Nasdaq Composite jumped 315.37 points, or 2%, to close at 16,156.33.
  
  For the week, the Dow climbed 1.1%, the S&P 500 gained 0.5% and the technology-heavy Nasdaq rose 1.4%. The Nasdaq and S&P 500 each booked back-to-back weekly gains, while the Dow rose for a third straight week to notch its largest weekly rise since the stretch ending March 22.
  
  
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• Oil prices log worst week since February as fears over Middle East supply fade
  Oil futures finished lower Friday — with easing concerns over potential...
  Oil futures finished lower Friday — with easing concerns over potential supply disruptions in the Middle East, strong U.S. production, and signs of slowing demand prompting prices to register their largest weekly percentage loss since early February.
  
  Traders tied an early Friday rise in oil prices to a news report that some OPEC+ members would be willing to extend production cuts beyond the end of the second quarter.
  
  West Texas Intermediate crude for June delivery fell 84 cents, or 1.1%, to settle at $78.11 a barrel, for a weekly fall of nearly 6.9%.
  
  July Brent crude, the global benchmark, declined by 71 cents, or nearly 0.9%, at $82.96 a barrel, leaving it down 6% for the week. Brent and WTI prices both marked their largest weekly percentage losses since the week ended Feb. 2.
  
  Natural gas for June delivery settled up at $2.14 per million British thermal units, up 5.3% Friday for a weekly rise of 11.4%.
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• Gulfport looks to maximize liquids production in Ohio
  As the natural gas price environment remains challenging, Ohio producer...
  As the natural gas price environment remains challenging, Ohio producer Gulfport Energy plans to delay certain drilling and completion activities to the latter part of the year and prioritize liquids-rich opportunities. Bolstered by robust oil output from two recently drilled Marcellus Shale wells in Belmont County, Ohio, the company estimates having two years of liquids-rich drilling inventory across its acreage.
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• Trans Mountain expansion marks commercial launch
  Canada's long-delayed Trans Mountain pipeline expansion officially began...
  Canada's long-delayed Trans Mountain pipeline expansion officially began commercial operations on Wednesday, according to Cenovus Energy CEO Jon McKenzie, who warned that the mounting challenges associated with infrastructure development could make it the last pipeline to be built in Canada. As line fill progresses, deliveries to tankers in British Columbia are expected by mid-May.
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