OklahomaMinerals.com

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• 🌨️Cold Weather Forecast for Oklahoma
  A real taste of winter is hitting most of the state this week, sending oil and gas crews to wear extra...
  A real taste of winter is hitting most of the state this week, sending oil and gas crews to wear extra clothing to fight the extreme wind chills. Oklahoma Climatologist Gary McManus says we’ll see wind chills down “into the single digits and teens” Tuesday morning.
  

  “Then, around Friday, we’re going to get a blast of true Arctic air, and then we could see a February 2021-lite version of winter where we stay below freezing for several days. A bit far out to say for sure, but get ready for winter-for-real.”

  
  

  

  
  

  
  

  He said another storm system will likely hit the state on Friday and early next week with a strong chance of snow for many areas of Oklahoma—“just depends on the storm track of those systems. [Source: OK Energy Today}
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• DOE earmarks $70M to secure energy infrastructure
  The Department of Energy is allocating up to $70 million to guard the nation's infrastructure from cyberattacks...
  The Department of Energy is allocating up to $70 million to guard the nation's infrastructure from cyberattacks and other cyber threats. The DOE is accepting applications for funding for its All-Hazards Energy Resilience project that will center on zero-trust architectures for electrical, gas, or oil settings.
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• Closing Oil & Gas Price
  Benchmark U.S. crude oil for February delivery...
  Benchmark U.S. crude oil for February delivery rose $1.47 to $72.24 per barrel Tuesday. Brent crude for March delivery rose $1.47 to $77.59 per barrel.
  
  Wholesale gasoline for February delivery rose 5 cents to $2.08 a gallon. February heating oil rose 7 cents to $2.65 a gallon. February natural gas rose 21 cents to $3.19 per 1,000 cubic feet.
  
  
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• Energy Sector Commentary
  The energy sector is off to a...

  The energy sector is off to a higher start, rebounding from yesterday's steep slide on the backs of strength in the underlying commodities. Major equity futures meanwhile steadied this morning as rates ticked higher and investors await a pair of key inflation readings later this week to gain clarity into the path forward for rate cuts from the Fed. The benchmark 10-year Treasury note yield rose more than 4 basis points this morning and is now trading above 4%.

  
  

  WTI and Brent crude oil futures are up by over 2.5% in early trading, recovering from yesterday’s 4% drop on rising concerns that tensions in the Middle East will spread and ongoing supply outages in Libya. Weak economic data out of Germany, lingering demand worries, and speculation of rising OPEC supply after Saudi Arabia cut its OSP yesterday, are keeping a cap on gains. The Israeli military has said its fight against Hamas will continue through 2024, worrying markets that the conflict could grow into a regional crisis that could disrupt Middle Eastern oil supplies. German industrial production unexpectedly fell in November according to the Federal Statistics Office, marking a sixth consecutive monthly decline.

  
  

  Natural gas futures resumed their trend higher, backed by cooler weather forecast in key consuming regions that should stir demand ahead of another winter storm.

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• Canada, Mexico projects seen squeezing US Gulf heavy crude supply
  The upcoming startup of the 590,000-barrel-per-day Trans Mountain Expansion oil pipeline in Canada and...
  The upcoming startup of the 590,000-barrel-per-day Trans Mountain Expansion oil pipeline in Canada and the 340,000-bpd Olmeca refinery in Mexico is expected to reduce the availability of heavy sour crude oil barrels on the US Gulf Coast. Crude imports from Venezuela could help fill a potential gap, but uncertainty surrounding US sanctions clouds that prospect.
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