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• DAILY OIL PRICE: December 3, 2025
  Crude Oil: 58.95   (+0.31)....
  
  
  • Crude Oil: 58.95   (+0.31).
  
  
  • Nymex MTD AVG: 58.9700.
  
  
  • Natural Gas: 4.995   (+0.155).
  
  
  • Gasoline: 1.8272   (-0.0031).
  
  
  • Spreads: January/February (+0.29)     February/March (+0.21).
  
  
  • Plains WTI Posting: 55.43   (+0.31).
  
  

  
  Source: Odessa American
  
  
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• Stock Market Close: Major Indices - Mixed Close Near Record Highs
  The Dow Jones Industrial Average gained 408.44 points,...

  The Dow Jones Industrial Average gained 408.44 points, or 0.86%, to finish at 47,882.90. The S&P 500 traded up 0.30% to end the day at 6,849.72, while the Nasdaq Composite added 0.17% to settle at 23,454.09.

  
  

  Key Driver: Weak Jobs Data Boosts Rate Cut Bets.  ADP reported that private payrolls unexpectedly declined by 32,000 in November, while economists polled by Dow Jones had expected an increase of 40,000. The ADP report looked to add fuel to the rate-cut fire, as nearly 90% of bets sit on a quarter-point reduction from the Federal Reserve next week.

  
  

  ADP data showed private employers shed 32,000 jobs in November, the biggest drop since 2023 and a sharp miss versus expectations for job growth.

  
  

  Notable Stock Movements | Microsoft Under Pressure: Microsoft shares declined by approximately 2% following reports that the tech giant is lowering AI software sales quotas amid customer resistance to newer products.

  
  

  Marvell Technology Surges: Marvell on Tuesday announced that it will acquire Celestial AI for at least $3.25 billion in cash and stock, with the purchase price potentially increasing to $5.5 billion if Celestial hits revenue milestones. The company also reported third-quarter earnings that beat expectations.

  
  

  Alphabet's Record Run: As of Wednesday afternoon, Alphabet's Class A and Class C shares are trading around $318, up roughly 0.7% on the day, leaving the company valued just under $3 trillion.

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• U.S. economy has lost jobs in three of past four months
  Privately run businesses eliminated jobs in November...

  Privately run businesses eliminated jobs in November for the third time in four months, pointing to a broad slowdown in hiring that threatens to nudge unemployment higher and chip away at the economy.

  
  

  ADP said businesses shed 32,000 jobs last month, marking the biggest decline since the spring of 2023. The last time hiring was this weak was during the pandemic.

  
  

  The latest ADP report confirms a broad hiring freeze remains in place as the year draws to a close. It could also sway a divided Federal Reserve to cut interest rates next week for the third straight meeting due to worries about a weakening labor market.

  
  

  The ADP report, normally a second-tier labor market indicator, has taken on greater importance due to a record government shutdown that stretched from Oct. 1 to Nov. 12.

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• Broad declines push US gasoline prices to lowest since 2021
  Gasoline prices have fallen below $3 per gallon for the first time since...
  Gasoline prices have fallen below $3 per gallon for the first time since May 2021, driven by strong refinery output, record US crude oil production and increased output from OPEC. GasBuddy reports that the national average is $2.95 per gallon, with some areas like Oklahoma, Colorado and Texas seeing prices as low as $1.99 per gallon. Analysts note that these combined forces have contributed to an "exceptionally rare and broad-based retreat" in prices.
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• NatGas Prices Flirt with $5 on Cold Weather, LNG Production
  Natural gas prices passed $4.90/MMBtu...

  Natural gas prices passed $4.90/MMBtu on Dec. 1 at the Henry Hub after a three-day market rally that started Nov. 28. It was the highest front-month futures price since Russia invaded Ukraine in 2022.

  
  

  As of 9:08 AM ET this Wednesday morning,  prices were $4.94/MMBtu as analysts sifted through conflicting weather predictions for January.

  
  

  The combination of colder-than-expected weather and record LNG exports has steadily pushed prices upward since the fall. LNG exports set a record of 10.9 million tonnes in November, according to a Reuters report.

  
  

  The U.S. Energy Information Administration forecast in November that LNG production demand would average 15 Bcf/d in 2025 and 16 Bcf/d in 2026.

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