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• US oil boom alters Goldman's 2024 Brent price outlook
  Goldman Sachs has revised down its Brent crude price forecast for 2024 from...
  Goldman Sachs has revised down its Brent crude price forecast for 2024 from $92 per barrel to $81 per barrel on average, attributing the change to strong US oil production. However, the bank expects factors such as OPEC+ supply cuts, moderate US recession risk and a potential economic recovery in China to limit downward pressure on oil prices.
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• How Corpus Christi is navigating the energy export boom
  Since the 2015 end of the US' decades-long ban on most crude oil exports, the Texas...

  Since the 2015 end of the US' decades-long ban on most crude oil exports, the Texas city of Corpus Christi has flourished into the nation's oil export epicenter, handling more than half of the 4 million barrels per day of US crude exports in the first six months of 2023. Amid dreams of expansion, the city contends with the societal impacts of the energy industry's growth on certain neighborhoods and faces challenges, including an unsuccessful bid to host a federally funded hydrogen hub.

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• US crude exports surge amid year-end tax tactics
  Traders looking to sidestep a substantial year-end tax hit on...
  Traders looking to sidestep a substantial year-end tax hit on their inventories are fueling a surge in US crude exports from the Gulf Coast, with Kpler analyst Matt Smith projecting flows to potentially average as much as 5 million barrels per day in the final two weeks of the year. West Texas Intermediate crude is trading at a $4.50 per barrel discount to the global benchmark Brent, increasing its appeal to European and Asian refineries.
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• Closing Oil & Gas Prices for Wednesday
  Benchmark U.S. crude oil for February delivery...
  Benchmark U.S. crude oil for February delivery rose 78 cents to $74.22 per barrel Wednesday. Brent crude for February delivery rose 47 cents to $79.70 per barrel.
  
  Wholesale gasoline for January delivery was unchanged at $2.20 a gallon. January heating oil fell 1 cent to $2.71 a gallon. January natural gas fell 5 cents to $2.45 per 1,000 cubic feet.
  
  
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• Closing Market Update for Wednesday
  (Wednesday market close) Major...

  (Wednesday market close) Major U.S. equity benchmarks ended lower late Wednesday, retreating sharply to erase initial gains as investors appeared keen to lock in some profits from the market's recent rally ahead of the three-day holiday weekend. The Dow Jones Industrial Average® (DJI) touched another record high early in the session but ended with its first loss in 10 days.

  
  

  The late sell-off didn't appear to be triggered by any piece of news, though disappointing quarterly results from FedEx (FDX) late Tuesday sent the shipping giant's shares tumbling 12%, weighing on the transportation industry and raising some potential red flags over the economy.

  
  Here is where the major benchmarks ended:
  

  
  
  • The S&P 500 index (SPX) was down 70.02 points (1.5%) at 4,698.35; the Dow Jones Industrial Average (DJI) was down 475.92 points (1.3%) at 37,082.00; the Nasdaq Composite® (COMP) was down 225.28 points (1.5%) at 14,777.94.
  
  
  • The 10-year Treasury note yield (TNX) was down about 6 basis points at 3.858%.
  
  
  • The Cboe® Volatility Index (VIX) was up 1.14 at 13.67.
  
  

  
  
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