Cullen/Frost Bankers CEO: There's a quiet bullishness happening around natural gas

Economic Outlook & Business Sentiment - Cullen Frost Bankers sees customer agility in managing costs and passing them along, but the primary concern related to tariffs is uncertainty about a potential recession [4][5] - Businesses are delaying projects, not canceling them, due to recessionary worries, but increased clarity in trade policy could lead to renewed activity in the next 6-12 months [6] - Cullen Frost Bankers' loan pipeline is good, but many projects are being delayed; a Fed rate cut could stimulate activity [9] - Customers are trying to avoid raising prices to maintain market share and volume, suggesting limited inflationary pressure [10] Cullen Frost Bankers Performance - Cullen Frost Bankers experienced strong consumer activity in Q2, with a 37% jump in consumer deposit growth and strength in real estate loan products [1] Energy Sector - The energy industry is healthy at mid $60s per barrel oil prices, but significant production increases are unlikely at that level [12] - The industry is focused on efficiency rather than increasing production into lower price levels [13] - There's a growing bullishness around natural gas due to demand from data centers and increasing LNG capacities [14][15]