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• Oil transport affected as tanker rates rise
  Indian and Japanese refiners are turning to Murban crude due to its relatively low cost compared to WTI...
  Indian and Japanese refiners are turning to Murban crude due to its relatively low cost compared to WTI Midland, which is being affected by disruptions to tanker routes due to unrest in the Middle East. Geopolitical discord is likely to lead to an increase in US crude supplies headed to Europe, while Asia depends more on Middle Eastern crude.
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• Enverus shares US energy trends for 2024
  Oil productivity in the Permian Basin will hold steady this year, deal-making activity will lose some...
  Oil productivity in the Permian Basin will hold steady this year, deal-making activity will lose some steam, and the Midland Basin's Barnett Shale will rise to prominence, Enverus predicted in its 2024 energy outlook. Enverus also named ExxonMobil, Chesapeake Energy and EOG Resources as the most productive public US oil and natural gas producers.  
  
  Source: MRT
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• 🚢Houthis target US ships in the Red Sea
  Houthi militants ...
  Houthi militants struck a US-owned cargo ship with an antiballistic missile off the coast of Yemen yesterday. The US said that it caused neither major damage nor injuries, and the ship, the M/V Gibraltar Eagle, kept on going. The attack came after the US and UK targeted the Iran-backed Houthis in Yemen in response to their attacks on commercial ships in the Red Sea. The continued escalation has raised fears of a broader regional war, as the Houthis claim their actions are in support of Hamas in its war with Israel, and their attacks on ships have already begun to impact global supply chains.
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• ☕️What Else is Brewing Tuesday Morning
  Nearly 80% of the US is seeing ...
  Nearly 80% of the US is seeing bitter cold this week, with typically mild cities like Memphis, Dallas, and Nashville likely facing 72 hours of below-freezing temperatures. Other things to watch out for: canceled flights (there have been more than 2,100 nixed so far), dangerous road travel, and windchill as low as –30 degrees Fahrenheit in the Northern Rockies, Kansas, and Iowa
  
  Kroger said its purchase of rival supermarket chain Albertsons will take longer to close than expected as regulators pry into the deal.
  
  Boeing will add additional quality checks for its 737 Max aircraft and will step up inspections of parts made by the vendor whose door plug recently caused the Alaska Airlines incident (because nobody likes holes in their planes).
  
  Secretary of Defense Lloyd Austin was released from the hospital after being treated for complications from a prostate cancer surgery he didn’t tell the president about for three days.
  
  iPhone 15s are on sale in China for ~$70 off as Apple tries to spur sales in the world’s biggest cell phone market.
  
  The newly crowned Miss America is an active US Air Force officer.
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• Global crude oil prices dropped on Monday
  Because of the Martin Luther King Junior federal holiday, no oil trading...

  Because of the Martin Luther King Junior federal holiday, no oil trading closing prices were reported in the U.S. However, prices weakened slightly on Monday because of the impact of the Middle East conflict.

  
  

  Global benchmark Brent crude was traded and settled down 14 cents or about 0.2% at $78.15 a barrel on ICE Futures Europe. While there was no settlement to report for West Texas Intermediate crude in the U.S. due to the holiday, the U.S. benchmark was still down 18 cents or about 0.3% at $72.50.

  
  

  

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