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• Dow ends higher as stocks build on eight-week winning streak
  U.S. stocks closed higher Tuesday, building on a streak of eight straight weekly gains as the final,...
  U.S. stocks closed higher Tuesday, building on a streak of eight straight weekly gains as the final, holiday-shortened week of 2023 got underway.
  
  The Dow Jones Industrial Average DJIA rose 159.36 points, or 0.4%, to end at 37,545.33 — its second-highest close in history, according to Dow Jones Market Data
  
  The S&P 500 SPX gained 20.12 points, or 0.4%, to finish at 4,774.75, its highest close since Jan. 4, 2022. The index is off 0.5% from its record close of 4,796.56, hit on Jan. 3, 2022.
  
  The Nasdaq Composite COMP advanced 81.60 points, or 0.5%, to wrap at 15,074.57, its highest close since Jan. 12, 2022.
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• Energy Sector Commentary for Tuesday
  The energy sector moved higher Tuesday morning, supported by strength...

  The energy sector moved higher Tuesday morning, supported by strength in the crude complex and the major equity futures extending their rally into the last week of the year.

  
  

  WTI and Brent crude oil futures are kicking off the holiday-shortened week higher amid ongoing geopolitical tensions and optimism surrounding the Fed’s dovish pivot. Traders are continuing to focus on last week’s catalysts and are keeping an eye out for more news surrounding tensions in the Middle East. Elsewhere, as of Sunday, Denmark's Maersk announced it is preparing to resume shipping operations in the Red Sea and the Gulf of Aden, citing the deployment of a U.S.-led military initiative to protect ships traveling through the area.

  
  

  Natural gas futures are lower on forecasts for warmer temperatures.

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• Spanish Competition Watchdog Investigates Oil Company Repsol
  Spanish oil company Repsol is under investigation...

  Spanish oil company Repsol is under investigation by the country's antitrust watchdog over possible abuse of its dominant position in the nation's wholesale fuel market.

  
  

  The company may have abused of its dominance of the wholesale market between March and December 2022 to increase its petrol station network's market share, the CNMC watchdog said in a statement on Tuesday.

  
  

  The CNMC statement said that Repsol, Spain's largest oil company, may have offered additional discounts at its petrol stations while raising wholesale prices for rivals such as independent petrol stations.

  
  

  The investigation was opened after complaints were filed by two associations representing independent fuel station operators.

  
  
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• Record $2.75B in New Mexico Revenue Driven By Oil & Gas
  The New Mexico State Land Office reported Tuesday...

  The New Mexico State Land Office reported Tuesday a record $2.75 billion in revenue for Fiscal Year 2023, which ran from July 1, 2022 to June 30, 2023.

  
  

  This was the second time in its history the land office raised more than $2 billion, read an announcement, reporting revenue of $2.4 billion in FY 2022.

  
  

  Of the funds raised in FY 2023, records show about $2.6 billion, or 96.8 percent came from oil and gas sources, including royalty payments, rental fees and other costs paid by oil and gas operators to produce on State Trust land.

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• Talos Energy High Bidder in GOM Lease Sale
  Talos Energy announced that it was named as...
  Talos Energy announced that it was named as the apparent high bidder on 13 deepwater blocks comprising approximately 74,000 gross acres (approximately 48,000 net acres) in the U.S. Gulf of Mexico Outer Continental Shelf Federal Lease Sale 261 held by the Bureau of Ocean Energy Management on December 20, 2023. Leases for all blocks remain subject to normal-course, formal award by the Department of the Interior.
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