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• DAILY OIL PRICE: January 7, 2026
  Crude Oil: 55.99   (-1.14)....
  
  
  • Crude Oil: 55.99   (-1.14).
  
  
  • Nymex MTD AVG: 57.2600.
  
  
  • Natural Gas: 3.525   (+0.175).
  
  
  • Gasoline: 1.6945   (-0.0061).
  
  
  • Spreads: February/March (+0.09)     March/April (+0.09).
  
  
  • Plains WTI Posting: 52.47   (-1.14).
  
  

  
  Source: Odessa American
  
  
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• Dow ends over 465 points lower in retreat from record territory; Nasdaq edges up
  The S&P 500 dropped 0.34% to close at 6,920.93, while...

  The S&P 500 dropped 0.34% to close at 6,920.93, while the Dow Jones Industrial Average fell 466 points, or 0.94%, settling at 48,996.08. Both indexes had risen to fresh all-time highs earlier in the session before pulling back. The Nasdaq Composite bucked the trend, gaining 0.16% to end at 23,584.27.

  
  

  Sector Performance: Financials and energy were the day's worst performers, with both sectors declining more than 1%. Bank stocks led the retreat, with JPMorgan, Bank of America, and Wells Fargo all ending the session lower. Energy stocks also struggled, with Exxon Mobil, Chevron, and ConocoPhillips posting notable losses.

  
  

  Market Drivers: Oil prices declined after President Trump announced that Venezuela will turn over 30 million to 50 million barrels of sanctioned crude to the United States, raising concerns about increased supply. Crude oil dropped around 1.4% to approximately $56.35 per barrel.

  
  

  Notable Movers: Eli Lilly shares jumped more than 3% following positive analyst commentary about the pharmaceutical company's growth prospects. Gold also saw selling pressure, dropping more than 1% as investors took profits after a strong run to start the year.

  
  

  Market Context: The pullback came after the Dow hit a record close of 49,462.08 on Tuesday, as areas of the market that had been hot to start the year lost momentum. The sell-off in financials was particularly notable given that sector had been a key driver of the recent rally.

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• Iranian Protests Expand
  The death toll from clashes between Iranian security...

  The death toll from clashes between Iranian security forces and protesters reportedly rose to at least 36 people yesterday, as antigovernment demonstrations expanded to include a sit-in at Tehran’s Grand Bazaar. More than 1,200 people have been detained across more than 50 towns and cities.

  
  

  The unrest began Dec. 28 as Iran’s currency fell to a record low of over 1.44 million to the US dollar. The rial has since plunged further, reaching another record low yesterday. Inflation reached 52.6% last month, according to official figures. The economic crisis comes after the UN reimposed sanctions in September following alleged Iranian violations of a 2015 nuclear deal, including an illegal ballistic missile test. The sanctions include restricting Iran's oil sales and access to global finance. Amid the currency free fall, the country’s central bank last week ended exchange-rate subsidies for importers, a cost that will likely soon be passed on to consumers.

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• Trump says Venezuela will send U.S. up to 50 million barrels of oil
  In an exclusive interview with NBC News, President Trump said of the...
  In an exclusive interview with NBC News, President Trump said of the Venezuelan government, “I do get the sense that they’re cooperating.” He also said, “We have to nurse the country back to health.” Despite Maduro’s capture, his government seemingly remains intact, with his vice president, Delcy Rodríguez, the acting president. In a post to Truth Social yesterday evening, President Trump said that “the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America.” He went on to say that the oil would be sold at market price, and that he would control the proceeds, which would be used to “benefit the people of Venezuela and the United States.”
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• ☕️What Else is Brewing Wednesday Morning
  Hilton cuts ties with franchise after it turned away ICE agents. Hilton...
  Hilton cuts ties with franchise after it turned away ICE agents. Hilton took the rare step of severing its relationship with an independently owned franchise hotel near Minneapolis after it refused booking for Department of Homeland Security officials. On Monday, Everpeak Hospitality, which owns the hotel, apologized for “canceling a prior reservation for real DHS agents because of their work on immigration enforcement,” CNBC reported. But yesterday, conservative influencer Nick Sortor posted a video on X in which he visited the location after the apology, posing as a DHS representative and attempting to book rooms for immigration enforcement agents, but was denied by the desk clerk, who cited company policy. “A recent video clearly raises concerns that they are not meeting our standards and values,” Hilton said in a statement. “As such, we are taking immediate action to remove this hotel from our systems.”
  
  California Rep. Doug LaMalfa died at 65 after experiencing a medical emergency on Monday night.
  
  The Trump administration froze $10 billion in funding to California, Colorado, Illinois, Minnesota, and New York due to “massive amounts of fraud,” according to a Department of Health and Human Services spokesperson.
  
  American Airlines is launching free wi-fi for loyalty program members this month, in an attempt to catch up to rivals.
  
  Ford reported its best annual sales since 2019, despite production issues with its F-series pickup trucks.
  
  Nascar Commissioner Steve Phelps resigned after inflammatory texts he sent were revealed during the company’s federal antitrust trial.
  
  Netflix expanded its partnership with the WWE to become the home of its library, including replays of popular series like WrestleMania.
  
  Aldrich Ames, a 31-year CIA veteran who was convicted of spying for Russia in 1994, died while serving a life sentence in prison. He was 84.
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