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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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• Dow closes above 38,000 for first time as S&P 500 scores back-to-back records
  (Monday market close) U.S. equities extended...
  (Monday market close) U.S. equities extended last week's rally Monday, sending the S&P 500^® index (SPX) and Dow Jones Industrial Average^® (DJI) to record closes for the second trading day in a row as investors shrugged off an underwhelming start to quarterly earnings season and remain emboldened by indications the Federal Reserve may be able to stick a "soft landing" for the economy.  Here's where the major benchmarks ended:
  
  The S&P 500 index rose 10.62 points (0.2%) to 4,850.43; the Dow Jones Industrial Average gained 138.01 points (0.4%) to 38,001.81; the Nasdaq Composite^® (COMP) increased 49.32 points (0.3%) to 15,360.29, a two-year high.
  
  The 10-year Treasury note yield (TNX) fell about 4 basis points to 4.107%.
  
  The Cboe Volatility Index^® (VIX) lost 0.11 to 13.19.
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• Energy Sector Commentary
  The energy sector is off to a...

  The energy sector is off to a higher start, supported by strength in the crude complex and the major equity futures, as the S&P 500 is looking to build on fresh all-time highs.

  
  

  WTI and Brent crude oil futures are edging higher as geopolitical tensions in the Middle East come back into focus, outweighing concerns over higher oil production and a weaker growth outlook in China and Europe. The U.S. conducted more strikes against anti-ship missiles in Yemen while Houthi rebels today reiterated their pledge to attack ships in the Red Sea until there is "an end to the aggression against Gaza". U.S. freeze-offs which resulted in roughly 10M barrels of US crude production being offline last week with Permian losses at around 6M and Bakken losses at around 3.5M, are also lending support. Elsewhere, Libya's National Oil Corporation on Sunday announced it lifted force majeure at the 300K bpd capacity El Sharara oilfield.

  
  

  Natural gas futures are down as last week’s updated forecasts show warmer-than-normal temperatures are to be expected in key consuming regions at the end of January and into February.

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