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| Event | MarCon* | IIR Comment | Outlet | IIR News |
| Israel's Netanyahu eyes Iran after triumphs over Hamas, Hezbollah, Syria |  |
2025 will be a year of reckoning for Israeli Prime Minister Benjamin Netanyahu and his country's arch foe Iran. The veteran Israeli leader is set to cement his strategic goals: tightening his military control over Gaza, thwarting Iran's nuclear ambitions and capitalizing on the dismantling of Tehran's allies - Palestinian Hamas, Lebanon's Hezbollah and the removal of Syrian President Bashar Assad. "Iran is very vulnerable to an Israeli attack, particularly against its nuclear program," said Joost R. Hiltermann, Middle East and North Africa Program Director of the International Crisis Group. "I wouldn't be surprised if Israel did it, but that doesn't get rid of Iran." |
The Japan Times | Venture Global LNG, Aliso Canyon Gas Storage Facility - Your Daily Energy News |
| Why Are North Korean Troops in Ukraine Taking Heavy Casualties? | |
..More than 11,000 North Korean troops (are) fighting alongside Russian forces against Ukraine, it's playing a more prominent role in Mr. Kim's geopolitical gambit for much-needed cash and diplomatic leverage. "From top to bottom, the North Korean military has had no live combat experiences for decades," said Ahn Chan-il, a former North Korean army sergeant living in South Korea. "The troops must have had a crash course on drone and infantry warfare, but the question is how well they are familiarized with it." |
The New York Times | INEOS Building Europe's First CO2 Storage Facility |
| Oil prices stable on Monday as data offsets surplus concerns |  |
Oil prices stabilised on Monday after losses last week as lower -than-expected U.S. inflation data offset investors' concerns about a supply surplus next year. Oil prices rose in early trading after data on Friday that showed cooling U.S. inflation helped alleviate investors' concerns after the Federal Reserve interest rate cut last week, IG markets analyst Tony Sycamore said. But gains were reversed by a stronger U.S. dollar, UBS analyst Giovanni Staunovo told Reuters. "With the U.S. dollar changing from weaker to stronger, oil prices have given up earlier gains," he said. The dollar was hovering around two-year highs on Monday morning, after hitting that milestone on Friday. |
Reuters | AAA: Busy Travel, but Steady Gas Prices for the Holiday |
| European shares rise ahead of Christmas shutdown Japan stocks rise amid broader gains in Asia as Nissan, Honda reportedly aim to finalize merger next year Gold ticks lower in thin trade as dollar firms |
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Trading is expected to be relatively muted in the run-up to Christmas, with European markets set to be closed, or close early, for Christmas Eve and remain shut on Christmas Day. Overnight, Asia-Pacific markets started the week on a positive note, with investors digesting a press conference relating to the merger of Japanese automakers Honda and Nissan. The euro edged lower against the dollar on Monday, while markets continued to digest the recent string of central bank meetings that pushed the dollar to a two-year high and set expectations for globally diverging rate cut paths in 2025. Gold prices eased on Monday on a firmer dollar, in thin, holiday-season trade and as investors sought further clues on the U.S. Federal Reserve's monetary policy for next year after its latest meeting signaled easing would be gradual. |
CNBC | Amazon Furthers Investment in Ohio Data Centers |
| Natural Gas News: Colder January Forecast Drives Futures Higher - $4.300 Next? | |
Nearby U.S. natural gas futures surged last week, closing at $3.748/MMBtu, marking a 14.27% gain for the week. This advance to a new front-month 2024 high was driven by colder weather forecasts across major consuming regions, strengthening bullish sentiment. Liquefied natural gas (LNG) exports hitting 15 Bcf/d added further upward pressure, tightening supply and supporting the rally. On the weekly chart, natural gas futures decisively breached the October high of $3.647, confirming a breakout above key resistance. This move signals the potential for further gains, with the next significant resistance target near $4.300. |
FX Empire | Gridlock on the Grid Gives Boost to Fossil Future |
| U.S. Takes Aim at China's Production of Essential Computer Chips |  |
The Biden administration on Monday initiated a trade investigation into China's production of older types of computer chips that are integral for cars, dishwashers, telecom networks and military weaponry. The probe could ultimately result in tariffs or other measures to block Chinese chips from entering U.S. markets, though the decision of which, if any approach to take would fall to the incoming Trump administration. In industry after industry - from steel and ships to solar panels and electric vehicles - China has pumped money into building world-class manufacturing facilities, creating a surge of low-cost products that ultimately flood global markets. |
The New York Times | Oil Tanker Sales Drop on Higher Prices, Weaker Demand from China |
| Qatar Threatens to Halt LNG Exports to Europe Over Green Regulations |  |
One of the world's top LNG exporters, Qatar, is threatening to stop shipping its gas to the European Union if the bloc moves to strictly enforce a new corporate sustainability directive with fines on non-compliant firms, Qatar's Energy Minister Saad al-Kaabi told the Financial Times in an interview published this weekend. Earlier this year, the EU formally adopted the corporate sustainability due diligence directive. These new EU-wide rules introduce obligations for large companies regarding adverse impacts of their activities on human rights and environmental protection. The EU directive is part of the bloc's efforts to align companies with which it trades with the goal of reaching net zero by 2050. |
OilPrice | Chevron to Take LNG From Proposed Lake Charles Facility |
| Week 12/16/24 - 12/23/24 | |
'Twas a few nights before XMas when all through the world markets not much was stirring, not even heightened geopolitical tension from Eastern Europe through the Middle Eastern Holy Lands to the South China Sea. It rather seems the markets are settling down from this yearly tumultuous chatter and uncertainty as they process the latest Central Bank announcements from this past week. Analytical eyes are turning to the New Year in preparing forecasts for what might be on the horizon, from the global economy to energy markets. All that is known during these Holidaze is that we still know very little as to what lies in store for the New Year, other than it will be far from smooth sailing as much more turbulence is expected - especially from Uncle Sam who rocked the economic boat this past weekend in threatening a government shutdown... | ||
| *MarCon (Market Condition 1-5, with 5 being the highest impact) indicates directional bias or price effect for the relevant commodity (Oil, Natural Gas, Chemicals, etc.) and is graded by our team of experts here at IIR. | ||||
