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• EIA: US shale oil, gas output to continue downtrend in Dec.
  The Energy Information Administration expects US oil production from major shale formations to decline...
  The Energy Information Administration expects US oil production from major shale formations to decline for a second consecutive month to 9.652 million barrels per day in December, as Permian Basin growth will be insufficient to offset losses elsewhere. Similarly, shale gas production is projected to fall for a fourth consecutive month in December, by about 0.3 Bcf/d to 99.6 Bcf/d.
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• ☕️What Else is Brewing Tuesday Morning
  Israeli forces reach gates of al-Shifa hospital—Gaza's largest medical facility;...
  Israeli forces reach gates of al-Shifa hospital—Gaza's largest medical facility; Israel claims a Hamas command complex lies below the hospital (More) | See our previous write-up (More) | The UN warns fuel shortage in Gaza Strip will shut down relief efforts soon (More)
  
  The Beatles AI-aided song "Now and Then" becomes their record 35th song, and their first since 1996, to reach the top 10 of the Billboard Hot 100 chart (More)
  
  President Biden said hospitals in Gaza must be protected as fighting continued around Gaza City’s main medical facility, Al Shifa Hospital. Israel claims that Hamas has a command complex underneath, which Hamas denies.
  
  Los Angeles is facing even worse traffic than usual after a massive fire over the weekend, which authorities now believe was arson, caused the indefinite closure of Interstate 10.
  
  Google is suing to block alleged scammers from pushing out ads for a fake Google AI chatbot that it claims actually downloaded malware onto people’s computers.
  
  Nepal banned TikTok, saying the app disrupted the country’s social harmony.
  
  Crocs and McDonald’s are releasing a limited-edition shoe collab for when you want to show your devotion to Grimace beyond braving the shake.
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• Trans Mountain launch to shake up N. America oil market
  The anticipated early 2024 startup of Canada's 590,000-barrel-per-day Trans Mountain oil pipeline expansion...
  The anticipated early 2024 startup of Canada's 590,000-barrel-per-day Trans Mountain oil pipeline expansion is poised to increase competition for Canadian crude oil barrels, possibly diverting around 470,000 bpd of heavy Canadian sour from existing pipelines such as Enbridge's Mainline and Express pipelines and TC Energy's Keystone pipeline. Consequently, US refiners dependent on Western Canadian Select will be forced to pay a premium for continued access to Canadian crude.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for December delivery...
  Benchmark U.S. crude oil for December delivery rose $1.09 to $78.26 per barrel Monday. Brent crude for January delivery rose $1.09 to $82.52 per barrel.
  
  Wholesale gasoline for December delivery rose 5 cents to $2.24 a gallon. December heating oil rose 10 cents to $2.84 a gallon. December natural gas rose 17 cents to $3.20 per 1,000 cubic feet.
  
  
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• Dow finishes higher but sees first ‘death cross’ since March 2022
  U.S. stocks finished mixed on Monday as the Dow managed to eke...
  U.S. stocks finished mixed on Monday as the Dow managed to eke out a narrow gain ahead of a key inflation report due out early Tuesday. However, the blue-chip gauge wasn’t able to avoid seeing its 50-day moving average close below its 200-day moving average, sending its first “death cross” signal since March 2022, according to Dow Jones Market Data. The Dow Jones Industrial Average DJIA gained 54.77 points, or 0.2%, to 34,337.87, according to preliminary closing data from FactSet. The S&P 500 SPX fell by 3.69 points, or 0.1%, to 4,411.55. The Nasdaq Composite COMP shed 30.36 points, or 0.2%, to 13,767.74. A death cross is a popular momentum indicator used by technical stock-market analysts.
  
  
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