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HIVE Blockchain announced its global operations are producing a BTC equivalent operational hash rate of 1.675 EH/s from its Bitcoin and Ethereum operations, an annual run rate of $200 million. $HVBT was the first cryptocurrency mining company with a green energy and ESG strategy.

The EIA reported a build of +36 Bcf of working gas in storage. Natural gas benchmark futures closed under $4 per mBtu on Friday . European gas markets continue to trade close to highest in over 10 years.  LNG exports and Mexican pipeline transfers were at record high levels in the first half of 2021

WTI Oil futures ended over $73 after EIA reported crude draw of 4089kbbl (incl -1268kbbl draw at Cushing, now at lowest since Jan 2000, Midwest crude stocks lowest since Oct 2018). Gasoline stocks fell -2253kbbl,  Utilization fell 0.3% to 91.1%. Production fell -200kpd to 11,200 kbpd.

US Personal income was up 0.1% month-over-month in June with a 0.7% increase in compensation helping to offset a 2.0% decline in personal current transfer receipts. The Core-PCE Price Index, which excludes food and energy, increased 0.4% and was up 3.5% year-over-year (versus 3.4% in May).

Chevron reported better than expected second quarter earnings Friday. With oil and natural gas prices at significant highs we look at capital spending and Noble Energy acquisition updates. Fellow oil major Exxon also reports Friday.

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