Tom Kloza

Overnight US prices advance to $4.37/gal for gasoline and $6.31/gal for diesel. Despite slightly lower futures' prices today, you'll see these numbers rise at the pump as marketers struggle to catch up to epic wholesale increases.

Goldman had a tepid upgrade for Brent performance this weekend. One factor: the bank believes that US, Canada, Brazil, Venezuela, Argentina, and Guyana are on track to produce an aggregate 2.3-million b/d more crude versus 2025 numbeers.

Get ready for 24/7 WTI on Kalshi. To quote Margaret Hamilton "What a world, what a world." https://t.co/y060t0m9OQ

Chevron posts strong earnings that drive the market cap of the company to ~$345-billion. Impressive? Consider that yesterday, the value of Microsoft dropped by $357-billion. Only XOM in the XLE is above that figure.

Perspective: NVIDIA gained just shy of $150-billion in value today. That number is higher than the market cap of all individual companies in the XLE other than XOM and CVX.

So NVIDIA has topped $4-trillion this morning. Meanwhile, the entire roster of energy companies in the XLE is worth only about $1.58-trillion. ExxonMobil valued at less than $490-billion.

Financial food for thought: Nvidia closed today with an implied value of $3.3-trillion. The entire XLE ETF (23 companies ranging from $APA to $XOM)has an implied market cap today of $1.5-trillion. Stunning comparison by any measure and supports the notion of lost energy mojo.

ExxonMobil and Shell have both already warned that third quarter earnings will be hurt by slimmer profits, particularly in refining. Curb Your Enthusiasm will be the mantra of public refiners this month. Expect more warnings soon.

Don't forget Hess & XOM are partners in Guyana offshore -- will be huge in mid-decade. https://t.co/5fXqHBiXL9

Hess & ExxonMobil announce promising discoveries in Guyana in the Fangtooth and Lau-Lau projects. Who names these oil fields? Hanna-Barbera? https://t.co/LmuzIGev9s