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• U.S. stocks open mostly lower as investors look ahead to inflation data, Fed policy meeting
  U.S. stocks opened mostly lower on Monday, after six straight weeks of gains, as investors look ahead...
  U.S. stocks opened mostly lower on Monday, after six straight weeks of gains, as investors look ahead to inflation data and the Federal Reserve’s policy meeting this week. The Dow Jones Industrial Average DJIA was up 0.2% soon after the opening bell, while the S&P 500 SPX shed 0.1% and the Nasdaq Composite COMP fell 0.4%, according to FactSet data, at last check. A reading on November inflation, as measured by the consumer-price index, will be released on Tuesday. The following day, the Fed will release a statement on its monetary policy, after concluding its two-day meeting. Last week, all three major U.S. stock benchmarks closed at their highest levels of the year, with the S&P 500 finishing Friday at its highest value since March 29, 2022.
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• Rig activity remains steady in Oklahoma and the US
  Oil and gas rig activity remained steady in Oklahoma over the past week while the rig count across the...
  Oil and gas rig activity remained steady in Oklahoma over the past week while the rig count across the nation gained by one to reach 626, reported Baker Hughes Co. on Friday.
  
  Oklahoma was unchanged with a count of 38 rigs. A year ago, there were 69 oil and gas rigs active in the state.
  
  Nationally, the count of 626 came with a loss of two oil rigs to 504 and a gain of three gas rigs for a total of 119. The U.S. count is still 154 fewer than a year ago when the count was 780, according to Baker Hughes Co. The decline over the past year included a drop of 122 oil rigs and 34 gas rigs.
  
  The Ardmore Woodford recorded a gain of one rig, leaving it the only operational rig in the play. The Arkoma Woodford continued for another week with no reported drilling activity, based on the Baker Hughes report. The Cana Woodford count grew by one to reach 19.
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• Government to buy another 3 million barrels to refill nation’s oil reserve
  The government is now aiming for March to begin replenishing the nation’s Strategic Petroleum Reserve,...
  The government is now aiming for March to begin replenishing the nation’s Strategic Petroleum Reserve, which is at its lowest level in decades.
  
  After using 180 million barrels of crude oil to lower gasoline prices instead of the original purpose for national security emergencies, the Biden administration announced Friday it intends to buy 3 million barrels of crude oil for delivery in March.
  
  It wants to use lower crude prices to refill the emergency stockpile. Prices of West Texas Intermediate crude considered the US benchmark, closed Friday at $71.23 per barrel, a gain of $1.89 or 2.7% for the day. Still, prices were down about 2% for the week and it was the seventh straight weekly decline for WTI and Brent crude which is the global benchmark.
  
  Reuters reported the Energy Department had indicated two months ago it intended to buy back oil at $79 a barrel and as of this month had acquired about 9 million barrels at nearly $75 a barrel.
  
  The government intends to store the 3 million gallons at the Big Hill SPR site in Texas. The national reserve currently holds 351.9 million barrels of oil.
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• ☕️What Else is Brewing Saturday Morning
  Historybook: Actor Kirk Douglas born (1916); Actress Dame Judi Dench born (1934);...

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  Historybook: Actor Kirk Douglas born (1916); Actress Dame Judi Dench born (1934); “A Charlie Brown Christmas” debuts (1965); Diplomat and Nobel Peace Prize winner Ralph Bunche dies (1971); World Health Organization declares smallpox eradicated (1979).
  
  Israel increased its airstrikes in Gaza on Friday, hitting 450 targets, the country’s military said. UN Secretary-General António Guterres called the situation in Gaza a “spiraling humanitarian nightmare.” Meanwhile, White House National Security Council spokesperson John Kirby said “more can be done” to reduce civilian casualties even as the US vetoed a UN resolution calling for an immediate cease-fire.
  
  Starbucks said it wants to resume talks with the union representing hundreds of its locations to reach new contract agreements in 2024.
  
  A bipartisan group of US senators introduced a long-awaited bill to bring changes to the live-event ticketing industry.
  
  Tesla lost a legal battle with Sweden’s postal service after its workers refused to deliver license plates to the automaker in solidarity with striking mechanics.
  
  The Biden administration announced $8.2 billion in new funding for high-speed rail projects nationwide.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for January delivery...
  Benchmark U.S. crude oil for January delivery rose $1.89 to $71.23 per barrel Friday. Brent crude for February delivery rose $1.79 to $75.84 per barrel.
  
  Wholesale gasoline for January delivery rose 5 cents to $2.05 a gallon. January heating oil rose 3 cents to $2.58 a gallon. January natural gas fell 1 cent to $2.58 per 1,000 cubic feet.
  
  
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