- Oil is lower by more than $2, reversing gains from yesterday
- The November CPI report is released today, and tomorrow is the Federal Reserve’s final interest rate meeting of the year
- Guyana says oil producers to move ahead despite the threat from Venezuela (BBG)
- Guyana, which is targeting 1.2 MMBbl/d of oil production in the next few years, has been increasingly concerned by threats made by Venezuela to annex the oil-rich Essequibo region of the country
- Last week, Venezuela told Exxon and other producers operating in the disputed region that they had three months to leave
- Presidents Ali of Guyana and Maduro of Venezuela are set to meet on Thursday in an attempt to de-escalate
- Guyana’s president said that they are prepared to defend their country, and oil producers are moving ahead with development, while the CEO of Chevron said yesterday that diplomatic talks between the countries are more likely than war
- Fuel tanker hit by missile in the Red Sea (BBG)
- A Norwegian-flagged product tanker was struck by a missile fired by Houthi rebels near Yemen
- At least ten merchant ships have now been attacked since the onset of the Israel-Gaza war in October
- 12% of global trade and a significant volume of the world's oil passes through the Red Sea