Financial Performance - For the quarter ended June 2025, Energy Transfer LP reported revenue of $19.24 billion, down 7.2% year-over-year, and EPS of $0.32 compared to $0.35 in the same quarter last year [1] - The reported revenue was a surprise of -23.83% compared to the Zacks Consensus Estimate of $25.26 billion, while the EPS met the consensus estimate [1] Key Metrics - Gathered volumes for midstream operations were 21,329.00 BBtu/D, exceeding the average estimate of 20,762.51 BBtu/D [4] - NGLs produced were 1,181 million barrels, surpassing the estimated 1,098.09 million barrels [4] - Adjusted EBITDA for intrastate transportation and storage was $284 million, below the average estimate of $319.2 million, while interstate transportation and storage achieved $470 million, above the estimate of $423.8 million [4] Stock Performance - Shares of Energy Transfer LP returned -0.4% over the past month, while the Zacks S&P 500 composite increased by +0.5% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [3]

Oil Market Overview - Oil prices experienced a rebound in early trading, recovering from previous losses due to stronger-than-expected economic indicators from major oil-consuming nations and easing global trade tensions [1] - U.S. crude oil inventories saw a significant decline of 3.9 million barrels to 422.2 million, surpassing the expected draw of 552,000 barrels, indicating robust refinery operations and heightened demand [2] - Despite the rise in crude prices, unexpected increases in gasoline and diesel inventories suggest a supply overhang in refined products [3] Economic Indicators - The U.S. Federal Reserve's economic snapshot indicated a modest pickup in activity, but the overall outlook remained "neutral to slightly pessimistic," with businesses concerned about inflation from higher import tariffs [4] - Chinese economic data showed a slower second-quarter growth, but crude oil processing in June rose by 8.5% year on year, indicating strong fuel demand [5] Global Trade Outlook - President Trump expressed optimism regarding trade negotiations with major partners, hinting at progress with China, an imminent trade agreement with India, and potential deals with Europe [6] Sector Performance Gainers - Energy sector, particularly the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), is expected to benefit from rising oil prices as exploration and production companies increase output [9] - Steel producers, represented by the VanEck Vectors Steel ETF (SLX), are likely to gain from rising oil prices as they supply materials for oil drilling operations [10] Losers - Retail sector, represented by the SPDR S&P Retail ETF (XRT), may suffer as rising energy prices squeeze consumer spending [12] - Oil refiners, represented by the VanEck Vectors Oil Refiners ETF (CRAK), could face profitability challenges due to higher crude prices impacting their input costs [13] - Airlines, represented by the U.S. Global Jets ETF (JETS), are expected to perform better in a falling crude price scenario, as energy costs significantly affect their overall expenses [14] - Gold miners, represented by the VanEck Vectors Gold Miners ETF (GDX), may face pressure on operating margins due to higher oil prices, which constitute a significant portion of their production costs [15]

Group 1 - The European Union (EU) proposed banning the Nord Stream gas pipeline and lowering the price cap on Russian oil to pressure Russia to end its military actions in Ukraine [1][2] - The new sanctions package may be adopted at the EU foreign ministers' meeting on June 23, requiring unanimous support from all 27 member states [1] - The Nord Stream pipeline has been non-operational since the first year of the Russia-Ukraine conflict, and the latest ban will prohibit operators from engaging in transactions related to the pipeline [1][2] Group 2 - The proposed price cap reduction from $60 to $45 for Russian oil would render certain services provided by EU companies to Russia illegal, including the use of large Greek oil tankers and insurance services [2] - The EU aims to adapt to changing market conditions and restore the effectiveness of sanctions by lowering the price cap [2] - The EU also proposed removing 22 banks from the SWIFT international payment system and implementing new trade restrictions valued at approximately €2.5 billion ($2.9 billion) to further reduce Russia's revenue [3] Group 3 - The EU plans to blacklist an additional 77 vessels used by Russia for transporting sanctioned products and prohibit the import of refined products made from Russian crude oil [3] - In response to the sanctions, Russian President Putin signed a decree extending countermeasures against price caps on Russian oil and oil products until December 31, 2025 [3]

Group 1 - Spot gold prices fell sharply, reaching a daily low of $3207 per ounce, while both WTI and Brent crude oil prices increased by over 3% [1] - Saudi Aramco reported an increase in sales volumes for natural gas, refined products, and chemical products in the first quarter [2] - Major oilfield service companies in the U.S. indicated a challenging period ahead due to recent declines in oil prices, leading producers to reduce drilling activities and reconsider budgets [2] Group 2 - Japan's Prime Minister hinted at increasing corn imports as part of U.S. trade negotiations [2] - The analysis firm APK-Inform revised Ukraine's 2025 grain harvest forecast down by 3.8% to 55.3 million tons [2] - JPMorgan forecasts that gold prices could reach $6000 per ounce by 2029 [3]

Group 1 - The core viewpoint of the article highlights that Saudi Aramco's first-quarter sales significantly exceeded expectations, reaching 405.65 billion riyals, compared to analysts' forecast of 107.72 billion USD [1] - The company's net profit for the first quarter was reported at 97.54 billion riyals, which is substantially higher than the estimated 24.94 billion USD [1] - There was an increase in sales volumes for natural gas, refined products, and chemical products during the quarter, indicating strong operational performance [1]