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• ☕️What Else is Brewing Monday Morning
  Tech giants highlight the busiest earnings week of the season: Five...
  Tech giants highlight the busiest earnings week of the season: Five of the Magnificent Seven—Apple, Microsoft, Amazon, Meta, and Alphabet—will deliver their Q4 results, and we advise you against taking a shot every time AI is mentioned. On Wednesday, Boeing is scheduled to give an update on how the 737 Max 9 debacle will impact its 2024 forecasts. In all, 106 S&P 500 companies will report this week, including Starbucks, Pfizer, GM, and Big Oil.
  
  A Hong Kong court ordered the liquidation of Evergrande, once China’s largest real estate firm, which became saddled with more than $300 billion in debt.
  
  Elon Musk announced X will open a “Trust and Safety center of excellence” in Austin to combat child sexual exploitation material. The timing is likely not a coincidence, as CEO Linda Yaccarino is scheduled to testify before the Senate Judiciary Committee on the subject this week.
  
  French climate activists threw soup at the “Mona Lisa.” (It was not harmed by the splatter thanks to its protective glass case.)
  
  The Biden administration will award billions of dollars in subsidies to chipmakers such as Intel and TSMC in the coming weeks to show progress on the $53 billion Chips Act, the WSJ reported.
  
  Jannik Sinner and Aryna Sabalenka won the men’s and women’s titles, respectively, at the Australian Open. It’s Sinner’s first Grand Slam title…and probably not the Italian’s last.
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• MarketWatch: Oil prices jump after drone attack kills U.S. troops, escalating Mideast crisis
  Oil futures popped higher Sunday evening, after a drone attack that killed three U.S. service members...
  Oil futures popped higher Sunday evening, after a drone attack that killed three U.S. service members in northern Jordan, blamed by the White House on Iran-backed militants, marked a major escalation of tensions in the Middle East.
  
  West Texas Intermediate crude for March delivery CL00 was up $1.09, or 1.4%, at $79.10 a barrel on the New York Mercantile Exchange. March Brent crude BRN00 the global benchmark, gained $1.11, or 1.3%, to trade at $84.66 a barrel on ICE Futures Europe.
  
  Much will ultimately depend on the U.S. response and whether Iran takes action aimed at shutting down the Strait of Hormuz, Tariq Zahir, managing member at Tyche Capital Advisors, told MarketWatch on Sunday afternoon.
  
  “We are on the cusp of this escalating, which could seriously impact the flow of crude oil,” he said.
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• US drillers add oil and gas rigs for second week in a row
  U.S. energy firms this week added oil and natural gas...
  
  

  U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since early December, energy services firm Baker Hughes reported.  The combined oil and gas rig count, an early indicator of future output, rose by one to 621 in the week to Jan. 26.  The report showed oil rigs rose by two to 499 this week, while gas rigs fell by one to 119.

  
  

  Despite this week's rig increase, Baker Hughes said the total count was 150, or 19%, below this time last year.

  
  

  The U.S. oil and gas rig count dropped about 20% in 2023 after rising by 33% in 2022 and 67% in 2021, due mostly to a decline in oil and gas prices, higher drilling costs and as companies cut spending in favor of paying down debt and boosting returns to shareholders.

  
  
  
  
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• NGL kicks off expansion of Delaware Basin water pipeline
  Construction has begun on NGL Energy Partners' Lea County Express Pipeline System expansion in the Delaware...
  Construction has begun on NGL Energy Partners' Lea County Express Pipeline System expansion in the Delaware Basin, which aims to increase the pipeline's produced water disposal capacity from 140,000 barrels per day to 340,000 bpd. The system could be further expanded to 500,000 bpd of capacity in the future, the company noted.
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• Texas LNG clears final regulatory hurdles for FID
  Glenfarne Energy Transition has obtained the final permits required for a final investment decision on...
  Glenfarne Energy Transition has obtained the final permits required for a final investment decision on its proposed 4.4-million-short-ton-per-year Texas LNG export plant. Glenfarne expects to close financing and begin project construction this year, with first LNG exports anticipated in 2028.
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