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• Natural Gas Futures Continue Decline
  Natural gas futures extended yesterday’s steep declines into today’s session, reeling amid an updated...
  Natural gas futures extended yesterday’s steep declines into today’s session, reeling amid an updated weather forecast that temperatures through the first week of February could be some of the warmest seasonally in decades.  Futures were down this morning almost 6 cents at $2.36 per MMBtu at 9:25 ET.
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• Energy Sector Commentary
  The energy sector is off to a mixed-to-lower start, seesawing in early...

  The energy sector is off to a mixed-to-lower start, seesawing in early trading amid weakness in the underlying commodities while major equity futures steadied after the Dow and S&P 500 both hit fresh record highs.

  
  

  In earnings news, Halliburton reported 4Q results that topped analyst expectations, driven by strength in offshore and overseas markets. The company also raised its dividend and reported it returned $1.4 billion of cash to shareholders through stock repurchases and dividends in 2023, representing over 60% of its free cash flow.

  
  

  WTI and Brent crude oil futures are handing back some of the previous day's strong gains, slipping as traders weigh rising crude supply in Libya and Norway against simmering geopolitical tensions in several regions and domestic production outages. Norway's crude production rose to 1.85 million bpd in December, up from 1.81 million bpd the previous month and beating analysts' forecasts of 1.81 million bpd, according to the Norwegian Offshore Directorate. Meanwhile in Libya, production at the 300,000 bpd Sharara oilfield restarted on Jan. 21 after the end of protests that had halted output since early this month. Supply, however, remains constrained in the U.S. with as much as 20% of North Dakota's oil output still shut as of Monday night. Traders are also still assessing the Ukrainian drone strike on Novatek's Ust-Luga Baltic fuel export terminal yesterday and reports from last night that U.S. and British forces carried out a second joint round of strikes on Houthi positions in Yemen. Attention will start to shift the latest round of inventory reports which will give a clear read on the impact that weather-induced shutdowns over the last week had on production. Analysts expect that U.S. crude oil inventories will fall by about 3 million barrels in the week to Jan. 19.

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• Drilling activity dip spurs oil supply worries
  Technological advancements have allowed US oil and natural...
  Technological advancements have allowed US oil and natural gas operators to increase production even as drilling activity and prices have fallen, but concerns are growing about the sustainability of this trend. Occidental Petroleum CEO Vicki Hollub warned of potential global oil supply shortages starting in 2025 unless investment picks up, an unlikely prospect without improved pricing conditions.
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• ☕️What Else Is Brewing Tuesday Morning
  The FAA wants to check the door plugs on another Boeing model. Because...
  The FAA wants to check the door plugs on another Boeing model. Because you can never be too careful after a hole appears midair on a plane full of people, the Federal Aviation Administration has recommended that airlines inspect the door plugs on all 🛫Boeing 737-900ERs “as soon as possible.” The model is distinct from the Boeing 737 Max 9 involved in the recent Alaska Airlines incident where a plane was forced to make an emergency landing after the door plugs blew off, but it has the same door plug design, according to the agency. Airlines including Alaska, Delta, and United said they’ve begun checking planes and don’t expect any disruptions.
  
  Macy’s rejected a $5.8 billion offer to take it private, setting the stage for a potential hostile takeover.
  
  Two US Navy SEALs lost during a mission to stop a shipment of Iranian weapons from getting to Houthi militants are now considered dead after a search failed to find them, the military said. And yesterday, the US and UK launched more attacks on Houthi targets in Yemen.
  
  Joel Embiid scored 70 points against the Spurs last night, passing Wilt Chamberlain for the most points scored by a Sixers player in a game in franchise history.
  
  President Biden marked the anniversary of the landmark Roe v. Wade decision (since overturned) by announcing new initiatives aimed at increasing access to abortion and contraceptives.
  
  Elon Musk visited Auschwitz and participated in a memorial service there amid controversy over whether X properly moderates antisemitic posts.
  
  The Dana-Farber Cancer Institute, a Harvard teaching hospital, wants to retract six papers and correct another 31 as part of an ongoing review conducted after a biologist claimed researchers there, including the CEO, fudged data and images.
  
  Applebee’s $200 subscription pass for a weekly date night sold out in minutes, so we suppose that answers TikTok’s question about whether it’s an acceptable date spot.
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• Closing Oil and Gas Prices
  Benchmark U.S. crude oil for February delivery...
  Benchmark U.S. crude oil for February delivery rose $1.78 to $75.19 per barrel Monday. Brent crude for March delivery rose $1.50 to $80.06 per barrel.
  
  Wholesale gasoline for February delivery rose 8 cents to $2.24 a gallon. February heating oil rose 3 cents to $2.69 a gallon. February natural gas fell 10 cents to $2.42 per 1,000 cubic feet.
  
  
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