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The U.S. Geological Survey reports a 5.2-magnitude earthquake 221 kilometers southwest of Tuar, Indonesia.The Russian Ministry of Defense stated that Russian air defense forces shot down 77 Ukrainian drones last night.On December 7th, renowned tech journalist Gurman revealed that Apple CEO Tim Cooks hands "shake occasionally," but the cause of the tremors remains unclear. The report states that this phenomenon has been increasingly discussed within Apple over the past few months. Sources familiar with the matter revealed that both executives and ordinary employees have noticed Cooks trembling hands during meetings and large company events. However, those close to Cook indicate that his health is good.Conflict Situation: 1. Russia – Over the past day, Russian forces struck 152 areas targeting Ukrainian energy and transportation infrastructure, military equipment depots, and temporary deployment sites of Ukrainian armed forces and foreign mercenaries, shooting down 366 Ukrainian drones. 2. Ukraine – Over the past day, 184 battles occurred in the frontline areas. Ukrainian forces repelled dozens of Russian offensives in multiple directions, including Sloborzansk, Kupyansk, and Pokrovsk, destroying Russian tanks, armored vehicles, artillery systems, and other equipment; Ukrainian forces shot down or suppressed 585 attack drones of various types. Other Developments: 1. Zelenskyy spoke with the US, and both sides agreed on the next steps and methods of dialogue. 2. French President Macron will travel to London to assess the situation in Ukraine with the leaders of Britain, Germany, and Ukraine. 3. Ukrainian President Zelenskyy: Speaks with NATO Secretary General Rutte. 4. Turkish Foreign Minister: We are “on the right track” in our mediation efforts in Ukraine and hope that all parties will not leave the negotiating table. 5. The International Atomic Energy Agency (IAEA) has assessed that a protective enclosure used to contain the reactor at the Chernobyl nuclear power plant was damaged, and repairs have been initiated. Market news: Anthropic is in talks to acquire a developer tools startup.

Natural Gas, WTI Oil, Brent Oil – Oil Markets Test New Highs

Cory Russell

Jan 18, 2023 16:09

Natural Gas

Natural gas settled near the $3.60 level as traders remained focused on weather forecasts. The current market consensus implies that weather will turn colder closer to the end of the month. However, it remains to be seen whether forecasts will provide additional support to natural gas markets in the near term as current demand for natural gas remains low.

WTI Oil

WTI oil tested new highs today as traders bet on rising demand from China. In its latest report, OPEC said that world demand will grow by 2.22 million bpd in 2023. However, this estimate could be revised as the fourth quarter of 2022 was stronger than expected.

Brent Oil

Brent oil has also enjoyed strong support in today’s trading session. While resistance near the $87 level remains strong, Brent oil will have a good chance to climb above this level if traders stay focused on rising demand from China.