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• S&P 500 posts big weekly loss, Nasdaq sheds 2% as tech stocks drop Friday
  U.S. equities ended mostly lower on Friday, with the S&P 500 posting...
  U.S. equities ended mostly lower on Friday, with the S&P 500 posting a third straight week of losses as technology stocks slumped.
  
  The S&P 500 fell 43.89 points Friday, or 0.9%, to close at 4,967.23, booking its sixth consecutive daily decline.
  
  The Nasdaq dropped 319.49 points, or 2%, to finish at 15,282.01, also falling for a sixth straight day.
  
  The Dow Jones Industrial Average rose 211.02 points, or 0.6%, to end at 37,986.40.
  
  For the week, the S&P 500 dropped 3%, the tech-heavy Nasdaq sank 5.5% and the Dow eked out a less than 0.1% gain, according to Dow Jones Market Data. The Nasdaq logged a fourth straight week of losses, its longest losing streak since December 2022.
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• Weekly Gas Storage: Inventories increase by 50 Bcf
  The EIA has released its natural gas inventory report, showing...
  The EIA has released its natural gas inventory report, showing a net increase of 50 Bcf as of April 12, 2024.
  
  Working gas in storage was 2,333 Bcf as of Friday, April 12, 2024, according to EIA estimates. This represents a net increase of 50 Bcf from the previous week. Stocks were 424 Bcf higher than last year at this time and 622 Bcf above the five-year average of 1,711 Bcf.
  
  At 2,333 Bcf, the total working gas is within the five-year historical range. [Source: EIA]
  
  
  
   
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• OPEC output remains flexible as oil prices jump
  The prospect of oil going up to $100 per barrel has increased as conflict...
  The prospect of oil going up to $100 per barrel has increased as conflict continues in the Middle East, but investors expect OPEC's spare capacity could cap prices. Benchmark global prices are up 23% from mid-December, which has boosted inflation. If oil prices continue to rise towards $95 a barrel, this could increase pressure on OPEC to roll back production cuts and increase output, said Frederic Lasserre, global head of research and analysis at Gunvor.
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• Gibson pins growth hopes on US oil export opportunities
  Canada's Gibson Energy expects heightened profitability for its South...
  Canada's Gibson Energy expects heightened profitability for its South Texas Gateway Terminal, which it acquired last year for roughly $1.1 billion, as rising oil production from the Permian Basin drives increased US crude exports. Gibson plans to capitalize on this trend by optimizing contracts and upgrading the terminal infrastructure, Chief Financial Officer Sean Brown said.
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• Colorado loads another round against Utah crude oil trains
  Colorado legislators made another recent step against crude oil being transported by rail through the...
  Colorado legislators made another recent step against crude oil being transported by rail through the state from Utah. The House okayed legislation to limit the length of trains to reduce the chances of a hazardous spill.
  
  It’s the latest volley against the Uinta Basin Railway that has gone to the US Supreme Court after a U.S. Court of Appeals ruled in support of counties and environmental groups who fought a Surface Transportation Board ruling to support expanded crude oil rail transportation through Colorado.
  
  While waiting on a decision from the Supreme Court, the Uinta Basin Railway also plans to increase the size of the existing trains going through Colorado, reported the Colorado Sun.
  
  Click here for Colorado Sun | Story Summary - Sourced from OK Energy Today
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