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Renewable Fuel Makers Set for Strong Q2 as RINs, Diesel Prices Lift Earnings, TPH Says

Renewable fuel producers are expected to report a sharp improvement in Q2 earnings as stronger government blending mandates, higher diesel prices and a tightening California carbon market boost margins across the sector, TPH Energy strategists said in a note on Wednesday.Matthew Blair, analyst at TPH Energy, said Q2 EBITDA for renewable fuel companies is expected to rise to an average of $600 million, above the consensus estimate of $564 million and higher than the $410 million reported in Q1.Blair said the gains would mark the strongest quarterly performance for many companies in at least four years. TPH said the sector has benefited from three major tailwinds.The US Environmental Protection Agency's 2026 Renewable Volume Obligation introduced more aggressive blending targets, with requirements about 20% higher than the previous year.However, despite a recent increase in renewable diesel utilization, the market is projected to fall short of the mandated volumes unless imports rise substantially.Renewable Identification Numbers, which are used by refiners and fuel blenders to comply with federal biofuel obligations, strengthened during the quarter.D4 renewable diesel RIN prices averaged $2.11 per gallon in Q2, up from $1.39 in the previous quarter, with prices recently approaching $2.50 per gallon.Blair said even with RD utilization picking up recently, the industry is likely to come in well short of the 2026 RVO unless RD imports step up in a big way.The renewable fuels industry also benefited from higher conventional fuel prices following the US-Iran conflict, which disrupted global energy markets and contributed to tighter supply conditions.Flat diesel prices climbed to $3.78 per gallon in Q2 from $2.78 per gallon in the previous quarter, despite repeated expectations during much of the period that diplomatic efforts could lead to a ceasefire.California's Low Carbon Fuel Standard market provided another boost, moving into a supply deficit for the first time in four years as stricter carbon intensity requirements reduced credit availability.LCFS credit prices averaged $68 per metric ton during the quarter, compared with $65/mt in the prior quarter, and have since climbed closer to $75/mt.TPH expects several companies to outperform Wall Street expectations, with the biggest upside projected for Green Plains (GPRE), Archer-Daniels-Midland (ADM) and Neste.Green Plains is forecast to exceed consensus EBITDA estimates by about 15%, supported by stronger co-product contributions.Archer-Daniels is expected to beat estimates by about 10%, driven by improving soybean crushing margins and ethanol market trends, while Neste is projected to come in roughly 7% above consensus as refining conditions improve.Going forward to Q3, renewable natural gas markets are showing further improvement, supported by stronger D3 RIN and LCFS credit prices.Other segments, including renewable diesel, ethanol and soybean crushing, have softened slightly from second-quarter levels but remain above year-ago levels and five-year averages.Price: $17.65, Change: $-0.02, Percent Change: -0.11%

$ADM$GPRE

Commodities22d ago

Range Resources Q2 Output Meets Expectations as Buybacks Beat Forecasts, TPH Energy Says

Range Resources (RRC) reported Wednesday Q2 production of 2,296 million cubic feet equivalent per day, matching expectations, while stronger cash flow and share repurchases highlighted the quarter, TPH Energy said in a Wednesday note.Quarterly production reached 2,296 MMcfe/d, broadly matching TPH Energy's 2,300 MMcfe/d estimate and topping the Street's 2,283 MMcfe/d forecast, the research firm said.The company spent about $220 million on capital projects during the quarter, compared with TPH Energy's $219 million estimate and the Street's $189 million forecast. TPH Energy attributed the higher spending to an additional hydraulic fracturing crew entering operations.Range Resources realized $2.42 per million British thermal units during the quarter, matching TPH Energy's estimate. Cash costs declined to $1.68 per thousand cubic feet equivalent from TPH Energy's $1.77 estimate, largely because of lower gathering, processing and transportation costs.Lower operating costs lifted cash from operations before working capital changes to $333 million, exceeding TPH Energy's $306 million estimate and the Street's $287 million forecast.The company repurchased $78 million of shares during the quarter, well above TPH Energy's $32 million projection, providing another positive surprise in the results, the research firm added.Range Resources maintained full-year production guidance of 2.35 Bcfe/d to 2.40 Bcfe/d and kept capital spending guidance at about $675 million at the midpoint.TPH Energy forecasts 2.39 Bcfe/d and $689 million of capital, while the Street expects 2.37 Bcfe/d and $686 million.TPH Energy expects investors to focus on the pace of production growth during the second half as new infrastructure enters service.The research firm projects an exit production rate of 2.56 Bcfe/d, compared with the Street's 2.53 Bcfe/d.Range Resources also delivered another strong quarter for natural gas liquids pricing, with a premium of $3.49 per barrel over Mont Belvieu compared with TPH Energy's $2.25/bbl estimate.The company raised its full-year pricing outlook to a premium of $2/bbl to $2.50/bbl.The updated investor presentation also increased the company's high-case outlook for Northeast power demand through the end of the decade, according to TPH Energy.Price: $38.41, Change: $+0.66, Percent Change: +1.75%

$RRC

Commodities22d ago

Hindustan Petroleum Reports Strong Q1 Operations, Expands Energy Transition

India's state-owned Hindustan Petroleum reported Q1 2027 earnings Wednesday, showing total crude throughput of 6.52 million metric tons.Sales, including exports, increased 0.6% year over year to 13.12 mmt, the company said.The company's Visakh refinery processed 3.97 mmt of crude and operated at 106% of capacity for the quarter ended June 30.The Mumbai refinery processed 2.55 mmt and operated at 108% of capacity, according to the company.Combined motor spirit and high-speed diesel sales increased 8.1% over the year to 8.8 mmt.Liquefied petroleum gas sales reached 1.729 mmt, while pipeline throughput totaled 6.61 mmt for the quarter.Hindustan Petroleum advanced its refining expansion after HPCL Rajasthan Refinery declared commercial operations on June 22. The company also received in-principle approval for all-weather operations at the HPLNG Chhara terminal.Hindustan Petroleum expanded its network to 25,160 retail outlets, 6,391 liquefied petroleum gas distributors and 54,586 piped natural gas connections.Hindustan Petroleum continued to advance its energy transition strategy with 2,289 compressed natural gas stations, 5,806 electric vehicle charging stations and 23,928 solarized retail outlets.The company also commissioned solar projects with a combined capacity of 16.9 megawatts at Jalgaon and Jhansi.

Commodities22d ago

EQT Signs Long-term Power, LNG Deals as Robust Production Lifts Q2 Results, TPH Says

EQT (EQT) signs a series of commercial deals with power and LNG customers while reporting stronger-than-expected Q2 operating performance, as the US natural gas producer seeks to capitalize on rising domestic electricity demand and export growth, TPH Energy strategists said on Wednesday.The energy firm signed a 10-year agreement to supply 325,000 dekatherms per day of natural gas to the CPV Shay power plant in West Virginia, under a pricing structure linked to the PJM power market.Jake Roberts, analyst at TPH, said that deliveries are projected to begin as early as 2031.The agreement is one of EQT's most significant moves to date to secure long-term demand from the power sector, where electricity consumption is forecasted to rise amid the expansion of data centers and artificial intelligence infrastructure.EQT also signed an LNG offtake agreement for 0.5 million metric tons per annum beginning in 2028 and agreed to acquire Blackline Midstream, which owns two propane storage and distribution terminals in the US Northeast, for $77 million.The US energy firm reported Q2 financial results that beat estimates, buoyed by higher production volumes, better price realizations, and lower capital expenditures.Production reached 634 billion cubic feet equivalent, above the company's guidance range and ahead of TPH analyst expectations, driven by stronger well performance, compression optimization and fewer production curtailments.EQT raised its full-year production guidance by 90 bcfe to a range of 2.38 trillion to 2.45 trillion cubic feet equivalent, citing stronger-than-expected compression performance and lower base production declines.The company lowered its maintenance capital outlook by $25 million but increased expected equity contributions by $85 million as it accelerates spending on the Mountain Valley Pipeline Southgate project, targeting completion by the end of 2026. Total capital spending guidance now stands at roughly $2.89 billion.For Q3, EQT forecasts production of 570 bcfe to 620 bcfe and capital spending of about $830 million.Price: $52.84, Change: $+3.04, Percent Change: +6.10%

$EQT

Commodities22d ago

Update: Weekly US Crude Inventories Rise by 2 Million Barrels, EIA Says

(Updates to include additional details.)US commercial crude oil inventories increased by 2 million barrels to 411.7 mmbbls in the week ended July 17, the Energy Information Administration said in its weekly report on Wednesday.Crude inventories were about 6% below the five-year average for this time of year, the EIA said.The increase was above Macquarie's estimate of a 900,000-bbl build for the week ended July 17.US Strategic Petroleum Reserve inventories dropped to 311.4 mmbbls in the week ended July 17, down from 316.5 mmbbls a week earlier, marking a weekly decline of 5.1 mmbbls, EIA data showed.Crude oil input to refineries decreased by 58,000 barrels per day from the previous week to average about 17.1 million b/d in the week ended July 17. Crude oil production dropped by 63,000 b/d to 13.8 million b/d.Commercial crude imports increased by 117,000 b/d to average about 5.8 million b/d.Total motor gasoline stockpiles increased by 800,000 bbls from the previous week to 211.3 mmbbls, while distillate stocks increased by 1.4 mmbbls to 109.6 mmbbls, the agency said.

Commodities22d ago

Correction: US Crude Stocks Seen Rising as Record Refinery Runs Offset SPR Draws, Macquarie Says

(Corrects date to July 17 in 1st paragraph)Weekly US crude inventory data from the Energy Information Administration is forecast to show a 900,000-barrel build for the week ending July 17, Macquarie strategists said in a weekly note on Tuesday, following a 1.7 million-barrel draw the previous week.Crude runs are projected to rise by about 200,000 barrels per day during the week to about 17.3 million b/d, the highest level in several years. Crude exports are projected to rise by 100,000 b/d, while imports are projected to increase by 400,000 b/d."Timing of cargoes remains a source of potential volatility in the weekly crude balance," Macquarie strategists said.Macquarie projected that domestic supply, which includes production, adjustments, and transfers, dropped by 100,000 b/d for the week ended July 10, while stocks in the Strategic Petroleum Reserve decreased by 5.1 million bbls.On the products front, gasoline inventories are forecast to drop by 1.7 million bbls, while distillate stocks and jet fuel inventories rose by 2.6 million bbls and 2.1 million bbls.Macquarie forecasts the combined implied demand for gasoline, distillates, and jet fuel at about 14.4 mmb/d.

Commodities22d ago

TotalEnergies Reinstates Gasoline, Diesel Price Caps Across France

TotalEnergies (TTE) said on Wednesday it was reinstating a cap on fuel prices at its service stations across metropolitan France after renewed conflict in the Middle East pushed global petroleum product prices higher.The French energy major said it would cap the price of gasoline at 1.99 euros ($2.27) per liter and diesel at 2.25 euros per liter, restoring a policy that had been in place until June 2026.TotalEnergies also confirmed it will move forward with plans announced on June 30 to renew exceptional pricing operations during summer holiday weekends at its motorway service stations, maintaining a 1.99 euros per liter ceiling for both petrol and diesel.Furthermore, residential customers enrolled in the energy firm's "Fuel Advantage" electricity and gas program will continue to benefit from a preferential 1.99 euros per liter cap on all fuels throughout 2026.TotalEnergies said the discount will be applied at the pump and itemized on customer receipts, with the offer extended to all new residential electricity and gas subscribers.Price: $84.70, Change: $+1.17, Percent Change: +1.40%

$TTE

Commodities22d ago

India's Adani Power Reports Rise in Fiscal Q1 Power Sales

India's Adani Power on Wednesday reported it sold 28.8 billion units in fiscal Q1, up from 24.6 billion units in the corresponding year-ago period."Growth in power demand, higher operating capacity, and PPA tie-ups of previously open capacity such as the Butibori and Mutiara (Tuticorin) power plants contributed to boost power sale volumes during Q1," the company said in its earnings statement.Adani Power, a subsidiary of the Adani conglomerate, said it achieved its highest ever quarterly power generation and dispatch at 31 billion units and 28.8 billion units in Q1.India's electricity demand rose 8.8% year-on-year to 485 billion units in Q1, driven by a heat wave, while the average market clearing price on the Indian Energy Exchange's day-ahead market rose 15.7% year-on-year to 5.1 Indian rupees per kilowatt-hour, the company said.For the quarter ended June 30, Adani Power reported 18.33 gigawatts of installed capacity, compared to 17.55 GW last year.Meanwhile, the plant load factor was reported at 77.9% for Q1, up from 67% in the year-ago period.In Q1, power sales under power purchase agreements rose by 30.3% to 24.5 billion units, while tariff realization improved by 8.5% to 5.95 Indian rupees/kilowatt-hour year-on-year, the company said.Adani Power is India's largest private thermal power producer with an installed thermal power capacity of 18.29 GW, in addition to a 40 megawatt solar power plant in Gujarat.

Commodities22d ago

Market Chatter: Permian Gas Bottleneck Threatens Producers as Drilling Outpaces Pipeline Capacity

Higher oil prices earlier this year prompted Permian Basin producers to boost oil output, generating more byproduct natural gas than pipelines could handle and forcing companies to pay buyers to take the gas, according to a report from The Wall Street Journal on Wednesday.First-half Permian gas prices averaged negative $2.19 per million British thermal units, while Diamondback Energy (FANG) said its gas sales averaged negative $2.15 per thousand cubic feet during the second quarter despite strong oil prices, and Devon Energy (DVN) and APA (APA) curtailed output.Some companies have instead looked for ways to use more gas within the basin. Matador Resources (MTDR) has expanded the use of its own gas to power drilling operations, while Chevron (CVX) plans to build a gas-fired power plant in West Texas to supply electricity to a nearby Microsoft data center.Diamondback Energy, Devon Energy, APA, Matador Resources, and Chevron did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumors and speculation. Accuracy is not guaranteed.)Price: $204.44, Change: $+4.64, Percent Change: +2.32%

$APA$CVX$DVN$FANG$MTDR

Commodities22d ago

Correction: US Weekly Ethanol Production Rose, EIA Says

(Corrects headline and 1st paragraph to show production rose. Updates to include additional details.)US weekly ethanol production rose, according to the US Energy Information Administration report on Wednesday.For the week ending July 17, US ethanol production averaged 1.09 million barrels per day, up from last week's 1.04 million b/d and above last year's 1.08 million b/d.The four-week average output at 1.09 million b/d was below 1.08 million b/d a year ago.Midwest ethanol production averaged 1.04 million b/d, up from 976,000 b/d the previous week. Four-week average output was 1.02 million b/d, compared with 1.03 million bpd a year ago.Domestic ethanol inventories ended the week at 24.5 mmbbls, up from 24.4 mmbbls a week ago and from 24.4 mmbbls a year ago.

Commodities22d ago

US Weekly Ethanol Production Unchanged, EIA Says

US weekly ethanol production was unchanged for the week, according to the US Energy Information Administration report on Wednesday.For the week ending July 17, US ethanol production averaged 1.09 million barrels per day, unchanged from last week and above last year's 1.08 million b/d.

Commodities22d ago

Weekly US Crude Inventories Rise by 2 Million Barrels, EIA Says

US commercial crude oil inventories increased by 2 million barrels to 411.7 mmbbls in the week ended July 17, the Energy Information Administration said in its weekly report on Wednesday.Crude inventories are now about 6% below the five-year average for this time of year, the EIA said.

Commodities22d ago

US Total Weekly EIA Crude Oil Stocks Fall by 3.0 Million Barrels After Prior 4.7 Million Decrease

Commodities22d ago

Underused Hydropower Grid Links Offer Economical Way to Integrate More EU Solar, Wind, Ember Says

Feeding output from wind and solar projects in the European Union to the grid through underused connections at hydroelectric power plants is a cost-effective way to deliver power and avoid worsening bottlenecks on power networks, energy analysts Ember said in a report on Tuesday.Ember said that the capacity of grid connections at hydropower plants is typically underused, making it possible to use them to deliver wind and solar power at no extra cost, a technique referred to as hybridization of hydropower.The report looked at seven EU member states that have 93 gigawatts of the EU's total 131 GW of hydropower capacity. The countries were Austria, Bulgaria, Portugal, Romania, France, Italy and Spain.The seven countries studied will add an estimated 138 GW of wind and solar from now to 2030, according to grid operators, representing a 50% increase in capacity of these energy forms.Ember's analysis found that about 25 GW of this, roughly 18% of the total, can be delivered to the grid via existing hydropower plant grid connections with no disruption to hydropower dispatch.That would offer major efficiencies in terms of cost and construction time. The figure varies by country, with 77% of planned renewables additions able to enter the grid via hydropower facilities in Austria, but only 7% in Bulgaria."Hydropower assets in Europe are especially suited to hybridization because they typically leave substantial grid capacity unused for much of the day," Ember said.Analysts noted that by integrating wind and solar behind the same grid connection point, "operators can maximize utilization of existing grid infrastructure while staying within injection limits."

Commodities22d ago

GE Vernova Backlog Expands YOY on Higher Power, Electrification Demand

Energy technology company GE Vernova (GEV) said Wednesday its backlog stood at $176.28 billion as of June 30, an increase from the previous year's $128.65 billion, as equipment orders in the power and electrification segments climbed.The figures represent the company's remaining performance obligation, a measure of backlog, which includes "unfilled firm and unconditional customer orders for equipment and services," according to GE Vernova's Q2 report.The power segment backlog grew year over year to $111.65 billion from $79.22 billion. It received 12.1 gigawatts of gas turbine orders during the quarter, more than double the 5.1 GW order a year earlier.It sold 29 gas turbines in Q2, up from 21 units a year ago, although equivalent capacity decreased to 3.3 GW from 5.2 GW.The power segment generated $5.48 billion in revenue during the period, up from $4.79 billion in the same period of 2025, the report showed.The electrification segment's backlog also grew year over year to $44.56 billion from $27.12 billion, while corresponding revenue climbed to $3.64 billion from $2.16 billion.GE Vernova said it expects to have at least 125 GW of contracted gas equipment by year-end and sees strong demand growth in electrification due to data center orders.Meanwhile, in the wind business unit, the company posted a decrease in backlog to $20.39 billion from $22.51 billion, and a corresponding decline in revenue to $2.03 billion from $2.25 billion.Price: $1001.30, Change: $-77.51, Percent Change: -7.18%

$GEV

Commodities22d ago

US Natural Gas Update: Futures Rally on Forecast for Above-Normal Heat Across US

US natural gas futures rose on Wednesday, as above-normal temperatures continue to blanket the country, adding momentum to prices.Both the front-month Henry Hub futures contract and the continuous contract edged higher by 1.88% to $2.919 per MMBtu.Forecasts for the next 6 to 10 days, as well as the next 8 to 14 days, are expected to remain warmer-than-average, according to the National Weather Service, leading to increased space cooling demand and power burn.Yet, natural gas demand is expected to soften on Wednesday, at 49 billion cubic feet per day, down from 51.2 Bcf/d on Tuesday, according to NRG Energy.According to the Energy Buyer's Guide, this near-term heat is "insufficient to materially alter expectations" for gas-fired generation, while adding that the broadly mixed fundamentals should lead the market towards a path of least resistance, which is trading "sideways for natural gas futures."Meanwhile, LNG export feedgas estimates remain under pressure, at 17.93 Bcf, compared to the 30-day moving average of 18.41 Bcf, according to the Bloomberg LNG Feedgas Model.This comes as the Freeport LNG facility in Texas enters into planned maintenance, which is expected to last until late August.

Commodities22d ago

Eni 120-MW Gas Power Plant in Kazakhstan Produces 1st Electricity

Integrated energy company Eni (E) has started generating electricity from a 120-megawatt gas power plant in Kazakhstan, one half of the 247-MW Mangystau hybrid power plant project, it said on Wednesday.The hybrid power plant integrates gas, solar, and wind generation. The 50-MW solar plant component was commissioned in September 2025, the statement said.Following the milestone for the gas power plant, Eni said its final commissioning is targeted within Q3.The 77-MW wind power plant component, meanwhile, is slated to begin operation in 2027, according to the statement.Eni is developing the hybrid project along with KazMunayGas and its own subsidiary, Plenitude.

Commodities22d ago

Trump Threatens to Target Iranian Power Plants, Bridges Over Hormuz Vessel Strikes

US President Donald Trump on Wednesday threatened to hit bridges and power plants, including those in the capital city of Tehran, if Iran targeted ships in the Strait of Hormuz."From this point forward, any time the Islamic Republic of Iran shoots at a ship in the Strait of Hormuz, whether it be by missile, rocket, drone, or any other device or weapon, the United States will bomb and destroy [one bridge or power plant], including those located next to, or in, the capital city of Tehran," Trump said in a post on Truth Social.Earlier in the day, US Secretary of State Marco Rubio said that while the US was willing to reach a settlement, Iran was not serious about discussions to end the war, multiple media outlets reported.

Commodities22d ago

Biofuels Update: Chicago Soybeans Track Crude Oil Gains

Chicago soybeans firmed on Wednesday, tracking sharp gains in the crude oil market, but a lack of new sales to China and profit-taking limited price upside.The August soybean contract on the Chicago Board of Trade rose 0.74% to $12.28 per bushel. The corresponding August soybean oil contract steadied at 74.30 cents per pound.Rising global energy prices improve competitiveness of biofuels due to enhanced economics, supporting feedstocks such as soybeans.However, gains in the soybean complex were limited as traders took profits after prices reached new highs for the year and following an improved crop rating by the US Department of Agriculture.Limited Chinese buying also weighed on the market despite resumption of purchases in recent weeks.China has so far bought about 2 million metric tons of US soybeans this year, according to tallied data by S&P Global Energy CERA, still short of the 25 mmt annual pledge through 2028.Traders cited by S&P Global Energy said tariffs, currently at around 13%, are limiting Chinese buying activity, with only state-owned buyers making purchases. Traders are also doubtful that tariffs will be resolved in a planned US-China summit in September."Nevertheless, even without US soybeans, supply in China is unlikely to become tight over the course of the year, given ample Brazilian supplies," the research firm said.Offers for Brazilian cargoes remain generally lower than US cargoes, according to ADM Investor Services.In Asia, Malaysian palm oil futures were mixed on Wednesday, as soybean oil steadied and as a lack of firm exports kept traders on the sidelines.The Bursa Malaysia Derivatives' August crude palm oil contract fell 0.11% to 4,530 Malaysian ringgit ($1,107.01) per metric ton. The September contract gained 0.20% to 4,583 ringgit/mt.AmSpec Agri Malaysia reportedly estimated a 0.9% month-over-month decline in Malaysia's July 1-20 shipments. At the same time, Intertek Testing Services approximated a 4.1% rise."..the data divergence is notable, casting doubt on the sustainability of export momentum," price reporting agency MySteel said.In June, exports rebounded month over month but fell below the previous year's level, "due to softer oils and fats consumptions in major markets such as China and India amid the lingering impact of the West Asia conflict," according to the Malaysian Palm Oil Council."...near-term vegetable oil demand remains moderate across major importing countries," it said, noting the currently high stock levels in India, driven by weak demand due to inflationary pressure.Going forward, the market could see a recovery in Indian demand ahead of the Diwali festival and could receive a boost from Indonesia's 50% palm-based biodiesel blending and potential yield impact from the El Nino weather phenomenon.However, "although the development of El Nino suggests future production reduction risks, current fundamental pressures are significant, and a breakout trend is unlikely in the short term," MySteel said.The MPOC projects palm oil prices of between 4,400 ringgit/mt and 4,650 ringgit/mt in August, but soft demand and elevated inventories will likely cap further upside.Meanwhile, August ethanol prices on the NYMEX dipped 0.39% to $1.92 per gallon on Tuesday, as the market awaited a weekly production, exports and inventory report due Wednesday.

Commodities22d ago

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Wednesday Ahead of Major Tech Earnings

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) retreated 0.4%, and the actively traded Invesco QQQ Trust (QQQ) was down 1% in Wednesday's premarket activity, as investors awaited results from major technology companies.US stock futures were also lower, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures slipping 0.2%, and Nasdaq futures retreating 0.9% before the start of regular trading.Mortgage applications rose by 1.9% in the week ended July 17 despite an increase in 30-year fixed mortgage rates, according to Mortgage Bankers Association data released Wednesday.The weekly petroleum stocks data will be released at 10:30 am ET.In premarket action, bitcoin was down by 0.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.7% lower, Ether ETF (EETH) advanced 0.3%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) was up 1.3%, while the iShares US Healthcare ETF (IYH) slipped 0.6%. The iShares Biotechnology ETF (IBB) was 0.5% lower.Dyne Therapeutics (DYN) stock was down more than 8% premarket after the company priced an upsized secondary public offering of 18.3 million shares at $20.50 each.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.7%, the Vanguard Industrials Index Fund (VIS) lost 0.01%, and the iShares US Industrials ETF (IYJ) was 0.5% higher.GE Vernova (GEV) stock was down more than 1% before the opening bell after the company reported lower-than-expected Q2 earnings.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.5%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat, and the iShares US Consumer Staples ETF (IYK) was down 0.7%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.6% higher.Cal-Maine Foods (CALM) shares were down more than 4% pre-bell after the company swung to a fiscal Q4 loss.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.04%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.1% lower.Banco Santander (SAN) shares traded up 1% in early-hours activity after the company reported higher Q2 earnings and revenue.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 1.3%, the iShares US Technology ETF (IYW) was 0.2% lower, and the iShares Expanded Tech Sector ETF (IGM) was up 0.8%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) fell by 1.8%, while the iShares Semiconductor ETF (SOXX) was down 2.8%.Nvidia (NVDA) shares were down more than 1% in premarket activity after gaining nearly 2% at the prior close. Chief Executive Jensen Huang is expected to meet Samsung Electronics Chairman Jay Lee, SK Group Chairman Chey Tae-won and Naver founder Lee Hae-jin in the US this week for an artificial intelligence roundtable, according to news reports.EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1.1%.Shell (SHEL) stock was up more than 1% before market open following a 1.2% gain in the previous session. The company resumed operations at a 200,000-barrel-per-day crude oil unit at its Pernis oil refinery in the Netherlands on Monday following a brief disruption, Reuters reported Tuesday.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 3.4% to $87.24 per barrel on the New York Mercantile Exchange. Natural gas was up by 1.7% to $2.91 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 2.8%, while the United States Natural Gas Fund (UNG) was 1.1% higher.Gold futures for July advanced 1.3% to $4,128.70 an ounce on the Comex. Silver futures were up 0.9% to $59.64 an ounce. SPDR Gold Shares (GLD) increased 1.1%, and the iShares Silver Trust (SLV) was 1.4% higher.

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Commodities22d ago