Friday, December 8, 2023

Week 49: December 4, 2023 - December 10, 2023

Locator: 46262TOPSTORY. 

Top story:

  • UPenn: president, board chair both resign after president testifies on free speech with regard to antisemitism; 
  • Israel steps up military action in Gaza.
    • current concern: Rafah on Egyptian border; humanitarian crisis;

Top international non-story story:

  • Panama Canal: congestion due to falling water level; shipping to Asia delayed; shippers turn to Europe.
  • Are we getting any information on how much humanitarian aid OPEC+ is providing non-Hamas Palestinians?
  • Russian-Ukraine war continues; drags on and on and on; has taken backseat to Israel-Gaza;
    • Russia most recently invaded February 22, 2022
    • the war actually goes back to 2014
    • most recent propaganda suggests Russia has the MOJO now, as US seems to step back

Top international energy story:

  • WTI drops as low as $67 before recovering to $71 at end of week

Top national non-energy story:

  • Santa Claus rally; US equities: remarkable bull run; S&P sets new 52-week record; pretty much goes unnoticed
  • consumer sentiment surges; folks upbeat on economy for 2024;
  • US jobs: unemployment rate drops — unexpectedly; for U-1, stands at 1.3%;
  • US senator Tuberville blinks; process to confirm senior military officers can move forward
  • California budget deficit balloons
  • Amazon - Nashville footprint continues to grow

Top national energy story:

  • WTI drops as low as $67 before recovering to $71 at end of week

Focus on fracking:

  • halo effect in MRO’s Bailey oil field play, as strong as ever;

Top North Dakota non-energy story

Top North Dakota energy story:

  • DAPL EIS comment deadline December 13, 2023

Geoff Simon's quick connects:

Bakken Economy:

  • holding; active rigs running about 40 which is at high end for the year
Commentary:

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