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• Panama Canal Drought
  Panama Canal officials ...
  Panama Canal officials announced they would reduce the daily number of vessels allowed to transit the shipping passage to 24, down from the average of 36 this time last year, amid severe drought conditions. Estimated losses from the cutbacks are expected to cost Panama nearly $700M this year and have domino effects on global shipping.
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• All LNG diverted from Red Sea due to conflict threats
  All shipments of liquefied natural gas have been diverted...
  All shipments of liquefied natural gas have been diverted from the Red Sea to routes including the Cape of Good Hope due to threats from Houthi rebel attacks. LNG prices are relatively stable, with Reuters analyst Clyde Russell noting that "current market dynamics are flexible enough to compensate without putting significant upward pressure on spot prices."
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• 🇵🇰Pakistan launched retaliatory airstrikes into Iran.
  The strikes ...
  The strikes targeted areas that Pakistan said harbored separatist terrorist militants. At least nine people were reportedly killed. That came two days after Iran launched missiles into western Pakistan at a different separatist group, which Pakistan condemned and said killed two children. The tit-for-tat airstrikes threaten the already uneasy relationship between the neighboring countries amid fears of a growing regional conflict. The day before it launched strikes into Pakistan, Iran fired missiles at ISIS targets in Syria, as well as what it claimed was an Israeli spy base in Iraq.
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• ☕️What Else is Brewing Friday Morning
  The World Economic Forum wraps up today in Davos, Switzerland. After a week of big-name CEOs and global...
  The World Economic Forum wraps up today in Davos, Switzerland. After a week of big-name CEOs and global leaders talking shop and fine-tuning their James Bond villain auditions, here are some memorable moments you may have missed from arguably the world’s most important annual gathering.
  
  “Today, I’m here to tell you that the Western world is in danger.” Javier Milei, Argentina’s new president, rallied against what he described as Davos’s “socialist agenda,” which he said “will only bring misery to the world.” Elon Musk enjoyed the speech.
  
  The House and Senate both passed a stopgap spending bill that will prevent the government from shutting down—for a few more weeks, at least.
  
  Uniqlo sued Shein for allegedly copying its viral “Mary Poppins” bag.
  
  Mortgage rates fell to their lowest levels in eight months. Meanwhile, jobless claims dropped to their lowest level in over a year.
  
  Microsoft is reportedly considering making some Xbox-exclusive games available on rival consoles, like PlayStation and Nintendo Switch.
  
  Instagram announced a new “nighttime nudge” feature that will gently suggest teens close the app when it’s late and they’ve spent more than 10 minutes on it.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for February delivery...
  Benchmark U.S. crude oil for February delivery rose $1.52 to $74.08 per barrel Thursday. Brent crude for March delivery rose $1.22 to $79.10 per barrel.
  
  Wholesale gasoline for February delivery rose 4 cents to $2.18 a gallon. February heating oil rose 4 cents to $2.69 a gallon. February natural gas fell 17 cents to $2.70 per 1,000 cubic feet.
  
  
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