Energy News Beat: 1/7/2021

Markets shake of what most people thought would be a volatile day, driving major indices to all time highs. The Dow Jones Industrial Average advanced 221 points, or 0.7%. At one point, the Dow was up more than 300 points. The Nasdaq Composite popped 2.3% — breaking above 13,000 for the first time

• S&P 500: 1.47%
• Nasdaq: 2.34%
• Dow Jones: 0.60%

Sentiment on Wall Street got a boost after the Institute for Supply Management said its index for nonmanufacturing activity in the U.S. rose to 57.2 in December from 55.9 in November. Economists polled by Dow Jones had forecast a print of 54.5.

Crude Oil and Natural Gas News
Oil prices traded flat today only up 0.25%, but the key is the stability of the $50 price target. With OPEC set to turn more production online soon, traders might be eyeing a top here soon. Crude oil prices settle at $50.83. Natural gas prices trade flat after an expected -130 bcf draw in NG stocks battles of warmer than expected weather to come in. Natural gas prices currently trading around $2.705

US Energy News
• US crude exports fall to China
• NG stocks draw -130 bcf
• EIA natural gas report HAHAHAHAHAH

International Energy News
• BP selling stake in North Sea
• $120 trillion from Blackrock