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• Energy Sector Commentary for Monday
  The energy sector opened lower, pressured by weakness in the crude complex...

  The energy sector opened lower, pressured by weakness in the crude complex and the major market futures. U.S. equities kicked-off the holiday-shortened week lower as COVID-19 flare-ups in China increase fears of slowing growth.

  
  

  WTI and Brent crude oil are down to near two-month lows as traders are concerned over the demand outlook due to China’s Zero COVID-19 policy and on strength in the dollar. New COVID case numbers in China are close to April peaks leading some districts in Beijing to switch to online classes on Monday. Additionally, the city of Guangzhou ordered a five-day lockdown. The prospect of higher interest rates continues to add strength to the greenback.

  
  

  Natural gas futures are up this morning amid forecasts for lower temperatures in the New England region, than previously expected. In international news, QatarEnergy has signed a 27-year deal to supply China's Sinopec with LNG, the longest such LNG agreement so far as volatile markets drive buyers to seek a long-term deal

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• ☕️What Else is Brewing Monday Morning
  FTX, the bankrupt crypto exchange, owes its 50 biggest creditors an astonishing $3.1 billion,...
  FTX, the bankrupt crypto exchange, owes its 50 biggest creditors an astonishing $3.1 billion, per a new bankruptcy filing.
  
  Kyrie Irving had his suspension lifted by the Brooklyn Nets after he issued a public apology for promoting an antisemitic film.
  
  Matt Damon and Ben Affleck created a new independent production company, securing at least $100 million in funding.
  
  Scientists agreed to add four new prefixes to the metric system to keep up with the growing amount of data the world is creating.
  
  
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• COP27 Conference Ends with One Resolution
  Mostly disappointing climate conference ends with a single breakthrough. Delegates...
  Mostly disappointing climate conference ends with a single breakthrough. Delegates at the COP27 climate summit in Egypt agreed to create a fund that will compensate lower-income nations for losses and damages they suffer from weather disasters fueled by greenhouse gas emissions spewed by richer nations. But despite that step forward, leaders did not agree to any more ambitious targets for emissions cuts, which would help prevent future costly disasters from happening in the first place.
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• Markets This Week
  Markets: It’ll be a ...
  Markets: It’ll be a short but stuffed (get it) week for investors. In the lead-up to Thanksgiving, when markets will close, we’ll get another batch of earnings reports and minutes from the previous Fed meeting. Traders will have to clock in on Black Friday for a half day.
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• 🐭Disney shocker: Robert Iger to return as CEO, Bob Chapek ousted
  In a stunning reversal, the Walt Disney Co. ...
  In a stunning reversal, the Walt Disney Co. DIS, +0.38% announced Sunday night that Chief Executive Bob Chapek was out, and will be replaced by his predecessor, Robert Iger.
  
  “We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” boardf chair Susan Arnold said in a statement. “The Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the Company through this pivotal period.”
  

  
  
  “Mr. Iger has the deep respect of Disney’s senior leadership team, most of whom he worked closely with until his departure as executive chairman 11 months ago, and he is greatly admired by Disney employees worldwide–all of which will allow for a seamless transition of leadership,” she said.
  
  
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