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• Energy Sector Commentary
  The energy sector is off to a broadly lower start, pressured by mild weakness...

  The energy sector is off to a broadly lower start, pressured by mild weakness in the underlying commodities and the major equity futures. U.S. stock index futures were largely subdued as investors were on edge in the run up to Federal Reserve Chair Jerome Powell's comments which are expected to hold clues on the interest rate path.

  
  

  WTI and Brent crude oil futures steadied with the market seemingly unconvinced that the latest round of production cuts by the OPEC+ coalition will be able to lift prices out of their recent slump. Yesterday OPEC+ producers agreed to remove around 2.2 million bpd of oil from the global market in the first quarter of next year, which included a rolling over of Saudi Arabia and Russia's current 1.3 million bpd of voluntary cuts. The market received the news with skepticism and confusion, driven by concerns about compliance given the voluntary nature of the reductions, as well as investors' prior expectations of deeper cuts.

  
  

  Natural gas futures are down in early trading as the NOAA's 6-10 day outlook shows above-normal temps over most of the US from OH, TN and the Lower MS Valleys westward to the Pacific Coast, especially across the northern and central Great Plains.

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• Emissions reduction drive paying off for Permian player
  Methane emissions reduction measures such as maximizing natural gas value, facility upgrades, continuous...
  Methane emissions reduction measures such as maximizing natural gas value, facility upgrades, continuous monitoring and flyovers have helped Permian Basin operator Triple Crown Resources cut its methane intensity by around 90% since 2020 and to eliminate flaring. "The next leg of improvement will come from our portfolio effect. We grow production through the low emissions facilities and get our costs down," said co-CEO and co-founder Ryan Keys.
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• Market Outlook
  🔔Before the opening bell: US stock futures...
  🔔Before the opening bell: US stock futures rise early Friday, after the Dow Jones Industrial Average finished its best month in more than a year.
  
  Inflation continues to cool. The Fed’s preferred inflation measure increased 3% in October, down from 3.4% in September and getting closer to the central bank’s much-ballyhooed target of 2%. A drop in gas prices—down 4.9% from the previous month—was a major factor. Increases in core prices, which strip out food and energy costs, also slowed last month. In the last six months, core inflation has grown at a 2.5% annual rate—down significantly from 5.1% last year. The news means the Fed will likely keep interest rates unchanged at its final 2023 meeting on Dec. 12 and 13.
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• ☕️What Else is Brewing Friday Morning
  Historybook: First moving assembly line introduced by Ford Motor Company (1913); Rosa...
  Historybook: First moving assembly line introduced by Ford Motor Company (1913); Rosa Parks arrested in Alabama for refusing to give up her bus seat (1955); Author and activist James Baldwin dies (1987); World AIDS Day commemorated for first time (1988).
  
  Israel said it resumed its combat operations in Gaza after its cease-fire with Hamas ended. Qatar said negotiations for another truce are continuing.
  
  The first wireless charging public roadway for electric vehicles was installed in Detroit.
  
  Meta will reportedly launch its X competitor, Threads, in Europe this month.
  
  McDonald’s is overhauling the Big Mac with more special sauce, fresher lettuce and pickles, and a brioche bun, among other changes.
  
  Microsoft secured a nonvoting board seat at OpenAI, seemingly answering questions about its commitment to the startup following the surprise fire and rehire of CEO Sam Altman.
  
  The Oscars will start earlier than ever next year (7pm ET) in an effort to reel in more viewers, the Academy of Motion Pictures Arts and Sciences announced.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for January delivery...
  Benchmark U.S. crude oil for January delivery fell $1.90 to $75.96 per barrel Thursday. Brent crude for January delivery fell 27 cents to $82.83 per barrel.
  
  Wholesale gasoline for December delivery fell 8 cents to $2.20 a gallon. December heating oil fell 6 cents to $2.83 a gallon. January natural gas was unchanged at $2.80 per 1,000 cubic feet.
  
  
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