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• Friday's Closing Oil & Gas Prices
  Benchmark U.S. crude oil for January delivery...
  Benchmark U.S. crude oil for January delivery fell $1.89 to $74.07 per barrel Friday. Brent crude for February delivery fell $1.98 to $78.88 per barrel.
  
  Wholesale gasoline for January delivery fell 6 cents to $2.12 a gallon. January heating oil fell 9 cents to $2.66 a gallon. January natural gas rose 1 cent to $2.81 per 1,000 cubic feet.
  
  
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• S&P 500 rises on Friday to close at 2023 high
  The S&P 500...

  The S&P 500 soared to a closing high for 2023 on Friday, extending November’s rally into the new month.

  
  

  The broad market index rose by 0.59%, ending the session at 4,594.63. The tech-heavy Nasdaq Composite advanced 0.55% to 14,305.03. The Dow Jones Industrial Average added 294.61 points, or 0.82%, to close at 36,245.50.

  
  

  The Dow rose to another new high on Friday, bringing its 2023 gain to nearly 9.4%, after it notched a new 2023 high and capped off its best month in more than a year.

  
  

  The S&P 500 closed at its highest level since March 2022.

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• Ohio's oil and gas industry in full swing
  Ohio, historically known for its abundant gas resources, is evolving into an oil production frontier...
  Ohio, historically known for its abundant gas resources, is evolving into an oil production frontier thanks to favorable business conditions, clear regulations and more than $100 billion in investments poured into the state's oil and natural gas industry over the past decade. Official figures show that Ohio's oil production jumped by 40% year over year to 6.9 million barrels in the second quarter of 2023, positioning the state for a bigger role in the nation's energy mix.
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• Sandra Day O’Connor, First Woman on the Supreme Court, Is Dead at 93
  Sandra Day O’Connor, the first woman on the United States Supreme...

  Sandra Day O’Connor, the first woman on the United States Supreme Court, a rancher’s daughter who wielded great power over American law from her seat at the center of the court’s ideological spectrum, died on Friday in Phoenix. She was 93.

  
  

  The Supreme Court announced her death in a statement, saying the cause was complications of dementia. She grew up in Arizona and lived there most of her life.

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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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