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• ☕️What Else is Brewing Monday Morning
  Qatar suspends its role in cease-fire talks. The Gulf...
  Qatar suspends its role in cease-fire talks. The Gulf country that had tried to broker a cease-fire in Gaza for months said on Saturday that it stopped those efforts, citing a lack of will among Israel and Hamas to make progress in ending the war. The pause was communicated to the parties 10 days ago in consultation with the US, the Qatari foreign ministry said, adding it could resume its role as mediator if Israel and Hamas “show their willingness” to negotiate. Qatar, which has become ultrawealthy from natural gas and petroleum, has emerged as an influential diplomatic broker: It’s a key US ally in the region (Americans have an air base there), is home to Hamas’s communications office, and has hosted Taliban leaders since 2012 as part of a deal with the US.
  
  A New York parks employee died fighting a brush fire on the New York–New Jersey border. Both states are still contending with fires and air quality issues brought about by unseasonably dry conditions.
  
  The number of searches by US students looking for bachelor’s and master’s degrees abroad increased more than 5x following Tuesday’s election, according to Studyportals.
  
  A FEMA employee was fired after telling a disaster relief team to avoid visiting houses with pro-Trump yard signs.
  
  San Francisco 49ers defensive end Nick Bosa was fined more than $11,000 for wearing a MAGA hat during a postgame TV interview on Oct. 27, violating the league’s rules around personal messaging.
  
  Monkey update: One monkey from the group of primates that broke out of a South Carolina lab has been safely recovered, but 42 remain at-large.
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• Oil slips as US storm threat eases, China stimulus disappoints
  SINGAPORE (Reuters) Oil prices extended declines ...
  SINGAPORE (Reuters) Oil prices extended declines on Monday as the threat of a supply disruption from a U.S. storm eased and after China's stimulus plan disappointed investors seeking fuel demand growth in the world's No. 2 oil consumer.
  
  Brent crude futures dropped 19 cents, or 0.3%, to $73.68 a barrel by 0104 GMT, while U.S. West Texas Intermediate crude futures were at $70.13 a barrel, down 25 cents, or 0.4%. Both benchmarks fell more than 2% last Friday.
  
  Oil prices have also eased after concerns about supply disruption from storm Rafael in the U.S. Gulf of Mexico subsided.
  
  According to the offshore energy regulator, more than a quarter of U.S. Gulf of Mexico oil and 16% of natural gas output remained offline on Sunday.
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• U.S. Rig Count Unchanged for Third Consecutive Week
  U.S. energy firms held the oil and gas rig count steady at 585 for a...
  U.S. energy firms held the oil and gas rig count steady at 585 for a third consecutive week, according to Baker Hughes' data as of November 8. This keeps the total count down 31 rigs, or 5%, from the same time last year. Oil rigs remained at 479, while gas rigs held at 102.
  
  The U.S. rig count declined 20% in 2023 amid falling energy prices, inflation-related costs, and a focus on debt reduction over production growth. Crude futures are down 2% year-to-date, while gas futures are up 6% after significant declines last year. Despite this, U.S. crude output is expected to grow from a record 12.9 million barrels per day (bpd) in 2023 to 13.2 million bpd in 2024 and 13.5 million bpd in 2025, per the EIA. Meanwhile, gas output is projected to dip to 103.5 billion cubic feet per day in 2024 from 2023’s record high of 103.8 bcfd.
  
  

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• Third Straight Bearish Storage Report Trips Up Natural Gas Futures
  Weekly natural gas cash prices fell for a fifth week as a slow start...
  Weekly natural gas cash prices fell for a fifth week as a slow start to the heating season kept demand light and bulls waiting for temperatures to drop in the second half of November.
  
  As of November 1, 2024, the U.S. Energy Information Administration (EIA) reported that working natural gas in storage was 3,932 billion cubic feet (Bcf). This represents a net increase of 69 Bcf from the previous week. Current stocks are 157 Bcf higher than last year at this time and 215 Bcf above the five-year average of 3,717 Bcf. At 3,932 Bcf, total working gas is above the five-year historical range.
  
  The EIA's Weekly Natural Gas Storage Report provides detailed regional data and historical comparisons, offering insights into storage levels across different U.S. regions. You can access the full report on the EIA's website for more comprehensive information.
  

  
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• Rafael Trapped In The Gulf, Churning Up Big Surf
  Rafael weakened into a tropical storm overnight,...

  Rafael weakened into a tropical storm overnight, with sustained winds of 50 mph on a westerly path away from Florida and is expected to continue to steadily weaken over the next few days, according to the latest update from the National Hurricane Center.

  
  

  After that, Rafael is expected to meander over the central Gulf of Mexico Sunday into Monday, then turn toward the south or south-southwest by Monday night.

  
  

  According to the NHC, heavy rainfall indirectly associated with the moisture from Rafael is expected to lead to 3 to 6 inches of rain, with local amounts to 10 inches, across portions of the Upper Texas Coast into Southwest and Central Louisiana through Sunday morning, potentially leading to significant flash flooding.

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