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• Winter storm forecast: Most of the U.S. is at risk of extreme weather this week
  The National Weather Service (NWS) is warning of several winter weather systems creating “widespread...
  The National Weather Service (NWS) is warning of several winter weather systems creating “widespread and potentially significant” flooding across the central Gulf Coast, the East Coast, and even Hawaii, as well as “ferocious blizzards” in the Pacific Northwest and the Plains into the Midwest.
  
  Forecasters are pleading with residents in the affected areas to take the “really unusual” weather in some areas seriously as they brace for the “extremely dangerous” conditions.
  
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for February delivery...
  Benchmark U.S. crude oil for February delivery fell $3.04 to $70.77 per barrel Monday. Brent crude for March delivery fell $2.64 to $76.12 per barrel.
  
  Wholesale gasoline for February delivery fell 8 cents to $2.03 a gallon. February heating oil fell 3 cents to $2.58 a gallon. February natural gas rose 9 cents to $2.98 per 1,000 cubic feet.
  
  
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• Energy Sector Commentary
  The energy sector is lower today, pressured by weakness in the underlying...

  The energy sector is lower today, pressured by weakness in the underlying commodities. Meanwhile, the major equity futures are mixed, as investors remain uncertain about the timing of interest rate cuts.

  
  

  WTI and Brent crude oil futures are kicking off the week sharply lower after Saudi Aramco made sharp price cuts to Arab Light, which offset ongoing tensions in the Middle East. Saudi Aramco lowered the official selling price of Arab Light for February to Asia by $2.00/barrel to a $1.50 premium vs Oman/Dubai, the largest m/m cut in over a year. At least three Asian customers told Bloomberg the price drop was unlikely to lead to requests for incremental deliveries while two Chinese buyers said they won't be lifting any term cargoes from KSA this month. Aramco also cut the price of Arab Light to the U.S. and NW Europe by $2.00/barrel. The ongoing war in the Middle East and a force majeure by Libya's National Oil Corporation on Sunday at its Sharara oilfield, is limiting losses.

  
  

  Natural gas futures dropped earlier this morning as investors take profits following last week’s 16% price gain and on forecasts for colder temperatures for most of the L48 in the third week of January.

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• Hezbollah Says a Commander Is Killed in a Strike in Lebanon
  Hezbollah said on Monday that one of its commanders...

  Hezbollah said on Monday that one of its commanders was killed in a strike in southern Lebanon, adding to concerns about a wider regional war as Israel battles Hamas in Gaza.

  
  

  In a statement, Hezbollah identified the commander as Wissam Hassan Al-Tawil but gave few additional details. A Lebanese security official, speaking on condition of anonymity because of the sensitivity of the matter, said Mr. Al-Tawil was a commander in Hezbollah’s Radwan unit, which Israel says aims to infiltrate its northern border. The official said he was killed in a strike in Khirbet Selm, a village in southern Lebanon that is about nine miles from the Israeli border.

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• ☃Winter has arrived
  Hundreds of flights were ...
  Hundreds of flights were canceled across the country, I-80 was temporarily closed in California as heavy snow fell on the Sierra Nevada, and every kind of nasty precipitation you can think of—snow, sleet, freezing rain, ice—pummeled the Northeast through Sunday. You won’t get much of a break to shovel your driveway: Another fast-moving, powerful winter storm will make its way across the country in the middle of the week, delivering significant snowfall to a handful of states. But probably not in Manhattan, which as of today has gone a record 694 days without an inch of snow.
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