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• Rio Grande LNG moves closer to FID with new supply deal
  NextDecade has signed a contract to sell 1.1 million short tons per year of liquefied natural gas from...
  NextDecade has signed a contract to sell 1.1 million short tons per year of liquefied natural gas from its Rio Grande LNG export facility in Brownsville, Texas, to Portuguese energy company Galp for 20 years, beginning in 2027. NextDecade expects to reach a positive final investment decision on the first phase of the 29.7-million-short-ton-per-year project in the first quarter of 2023.
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• ☕️What Else is Brewing Wednesday Morning
  Ukrainian President Volodymyr Zelensky is preparing to visit Washington, DC, today in what would be...
  Ukrainian President Volodymyr Zelensky is preparing to visit Washington, DC, today in what would be his first trip outside the country since Russia invaded in February. He is expected to meet with President Biden and address Congress.
  
  Sam Bankman-Fried is expected to be brought back to the US today to face charges stemming from FTX’s collapse after he signs extradition papers in a Bahamas courtroom.
  
  Some retailers, such as CVS and Kroger, are limiting the sale of children’s pain relievers. Demand for pediatric pain meds has spiked due to the “tripledemic” of respiratory illnesses spreading right now.
  
  Two Queens, NY, men were arrested for allegedly working with Russians to hack the JFK taxi dispatch system and allow cabs to cut the long airport line for a $10 fee.
  
  
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• Christmas Travel Outlook
  We will not be home for Christmas. Of the 112 million people AAA is expecting...
  We will not be home for Christmas. Of the 112 million people AAA is expecting to travel for the holidays, many of them could face serious delays. A brutal winter storm is expected to start its own holiday journey tonight in the Rockies and carry massive amounts of snow and high winds across the Midwest and to the East Coast before Christmas Eve. Around 5,000 flights could be delayed or canceled because of the storm, forecasters predict. Guess we’ll try to make Easter.
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• Energy Sector Commentary for Wednesday
  The energy sector is off to a higher start, supported by strength in the...

  The energy sector is off to a higher start, supported by strength in the underlying commodities and the major market futures. U.S stocks are expected to open in positive territory as better-than-expected earnings from Nike and FedEx helped boost investor confidence in consumer activity.

  
  

  WTI and Brent crude oil are higher for the third-consecutive session following last week’s sell-off amid API data that reflects a larger-than-expected draw in crude stocks which added to concerns over tight supply. Saudi Arabia’s energy minister said the heavily criticized move by OPEC+ to cut oil output turned out to be the right decision. These comments suggest OPEC+ may continue to keep supply tight. Additionally, the U.S Pipeline and Hazardous Materials Safety Administration has opened an investigation into the issuance of special permits to waive certain operating requirements on pipelines. This comes following the Keystone Pipeline oil spill on December 7th, which has raised eyebrows as Keystone is the only U.S pipeline with a special permit to operate at high pressure. Investors are keeping an eye out for the EIA report that will be released later today as API data reflects crude stocks are down but shows a build-up in gasoline inventories.

  
  

  Natural gas futures are higher as cold temperatures have frozen oil and gas wells and continue to boost heating demand.  

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• API Reports Crude Oil Inventory Draw
  After unexpectedly rising 7.8 million barrels last...
  After unexpectedly rising 7.8 million barrels last week, ending a four-week streak of drawdowns, crude oil inventories this week went back to draws, with the American Petroleum Institute (API) reporting inventories down by 3.069 million barrels. 
  
  Analysts anticipated a 0.167 million barrel draw.  Crude inventories at the Cushing hub rose by 0.84 million barrels this week.
  
  Meanwhile, crude stored in the nation’s Strategic Petroleum Reserves sunk by 211 million barrels, now at its lowest level since January 1984.
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