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• US drillers cut oil rigs to lowest since Jan 2022 for second week
  U.S. energy firms this week cut the number of oil rigs operating for a second week in...

  U.S. energy firms this week cut the number of oil rigs operating for a second week in a row to the lowest since January 2022, energy services firm Baker Hughes said in its closely followed report on Friday.

  
  

  The combined oil and natural gas rig count, traditionally an early indicator of future output, fell by two to 616 in the week to Nov. 10, the lowest since February 2022, which puts the total rig count down 163, or 21%, below this time last year.

  
  

  The number of active rigs has dropped since December due to weaker energy prices and as many firms return profits to investors and pay down debt rather than spending to boost production. However, U.S. oil and gas production is still set to hit record highs this year as demand grows and the industry boosts efficiency to offset the impact of the lower prices.

  
  

  The number of oil rigs fell by two to 494 this week, while gas rigs were unchanged at 118.

  
  

  

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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 $1.43 to $77.17 per barrel Friday. Brent crude for January delivery rose $1.42 to $81.43 per barrel.
  
  Wholesale gasoline for December delivery rose 3 cents to $2.19 a gallon. December heating oil rose 2 cents to $2.74 a gallon. December natural gas fell 1 cent to $3.03 per 1,000 cubic feet.
  
  
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• Dow ends nearly 400 points higher as tech rally leads stocks to highest close since September
  U.S. stocks ended sharply higher Friday, more than shaking off weakness seen in the previous session...
  U.S. stocks ended sharply higher Friday, more than shaking off weakness seen in the previous session in the aftermath of a poor Treasury bond auction and fresh signs that interest rates may stay higher for longer.
  
  Technology stocks drove the bounce, with the Nasdaq Composite leading major indexes to the upside as it and the S&P 500 logged their highest finishes since September.
  
  The Dow Jones Industrial Average DJIA rose 391.16 points, or 1.2%, to close at 34,283.10. The S&P 500 SPX ended with a gain of 67.89 points, or 1.6%, at 4,415.24. The Nasdaq Composite COMP advanced 276.66 points, or 2%, to finish at 13,798.10.
  
  The rally left the Dow with a weekly gain of 0.7%, while the S&P 500 advanced 1.3% and the Nasdaq booked a rise of 2.4%. The Dow saw its highest close since Sept. 20, while the S&P 500 ended at its highest since Sept. 19 and the Nasdaq at its highest since Sept. 14.
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• Energy Sector Commentary for Friday
  The energy sector is moving higher this morning, supported by strength in the crude...

  The energy sector is moving higher this morning, supported by strength in the crude complex and in the major equity futures. Wall Street futures inched higher as investors assessed Federal Reserve Chair Jerome Powell's hawkish commentary and looked forward to key economic data next week for more cues on the monetary policy path.

  
  

  WTI and Brent crude oil futures are trading higher for the second-consecutive session due to comments made by the US Fed Chair on more interest rate hikes and on Israel's ongoing attacks on Gaza, fueling supply fears. However, weakening China's Price Index, which fell 2.7 percent yearly and 0.2 percent monthly in October, and the rise in US crude oil stockpiles by an estimated 11.9 million barrels limited price upswings. Meanwhile, OPEC+ is set to meet on Nov. 26 to establish production policy, and the focus will be on whether Saudi Arabia extends a 1 million barrel-per-day voluntary cut set to expire at the end of this year.

  
  

  Natural gas futures slid for the fifth-straight day on record output and forecasts for mild weather through late November that should limit heating demand and allow utilities to keep injecting gas into storage for a couple more weeks.

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• Are the markets observing Veterans Day on Friday? What about USPS and banks?
  There are plenty of closures to be aware of this Veterans Day. But when is the holiday being observed,...
  There are plenty of closures to be aware of this Veterans Day. But when is the holiday being observed, exactly?
  
  It’s a question spurring plenty of Google searches. Saturday, Nov. 11, marks Veterans Day, a federal holiday in which Americans recognize those who have served in the U.S. armed forces.
  
  In some instances, businesses and offices will have revised operating hours on Friday as well as on Saturday. So if you’re wondering whether banks, post offices, federal offices or the stock market will be running as usual on Friday, MarketWatch has you covered. READ MORE [Note: Almost everything is open on Friday, with limited exceptions]
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