IIR's January 22 Market Scorecard Brings You Breaking Geopolitical News

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Researched by Industrial Info Resources (Sugar Land, Texas)--Stay current with the latest geopolitical events, and more importantly, instantly connect to how these events may impact you and your business strategies.

Event	MarCon*	IIR Comment	Outlet	IIR News
Netanyahu rejects Hamas's terms for hostage releases; heavy strikes in Khan Younis		Israeli Prime Minister Benjamin Netanyahu rejected what he said were conditions proposed by Hamas for the release of the remaining hostages held in Gaza, including the end of the war and the withdrawal of Israeli forces from the Strip. Israeli forces appeared to ramp up ground and aerial attacks overnight around the southern Gazan city of Khan Younis, according to local media and eyewitnesses, after Israel's defense minister said operations there were "in full swing."	Washington Post	Chevron, U.S. Rig Count: Your Daily Energy News
Davos 2024's most prominent outcomes and initiatives: Rebuilding trust amid uncertainty		Davos 2024, the 54th annual meeting of the World Economic Forum (WEF), brought together nearly 3,000 global leaders, policymakers, business executives and innovators. Leaders addressed the challenges of rising geopolitical tensions and charted a course toward a more sustainable and equitable future. Rebuilding trust and cooperation - Davos 2024 emphasized the urgent need to rebuild trust amid increasing geopolitical divides. Leaders from various sectors, including United Nations Secretary-General Antonio Guterres and Premier Li Qiang of China, highlighted the importance of rejecting prejudice. They discussed bridging differences and working collectively to address global challenges. Economic growth and trade - Discussions at Davos 2024 also emphasized the need for a new growth model that balances economic drivers with innovation, inclusion, sustainability and resilience. Climate, nature and energy - Building on the momentum from COP28, discussions at Davos 2024 likewise focused on driving energy efficiency, addressing energy demand, and protecting and restoring nature.	Economy Middle East	Milei Takes the Helm in Argentina While Mining Remains in the Background
Crude oil price forecast: Crude oil markets continue to see buyers on dips		Crude oil markets pulled back just a bit during the course of the trading session on Monday, but then turned around to show signs of life yet again. WTI Crude Oil Technical Analysis - The West Texas Intermediate crude oil market initially fell during trading on Monday, but turned around to show signs of life. All things being equal, I think the market is going to continue to look for an upward pressure attempt to break above the $75 level. If it does, then it's likely that we could look to the 200-day EMA for long-term indicators.	FXEmpire	Kinder Morgan Bolsters Role in Gulf, International Gas Markets
Russia and Iran finalize 20-year deal that will change the Middle East forever		Iran's Supreme Leader, Ali Khamenei, gave his official approval on 18 January to a new 20-year comprehensive cooperation deal between the Islamic Republic of Iran and Russia, according to a senior energy source in Iran and a senior source in the European Union's (EU) energy security complex, exclusively spoken to by OilPrice.com last week. It will replace the 10-year-deal signed in March 2001 (extended twice by five years), and it has been expanded in duration, scope and scale, particularly in the defense and energy sectors. In the energy sector, the new deal gives Russia the first right of extraction in the Iranian section of the Caspian Sea, including the potentially huge Chalous field. The wider Caspian basins area, including both onshore and offshore fields, is conservatively estimated to have about 48 billion barrels of oil and 292 trillion cubic feet (tcf) of natural gas in proven and probable reserves. The same right of first extraction for Russia also will apply to Iran's major oil and gas fields in the Khorramshahr and nearby Ilam provinces that border Iraq.	Oilprice	Global Miner Rio Tinto Moves Forward with Copper, Aluminum, Iron Ore Projects
Natural gas price forecast: Natural gas markets continue to plunge		Natural gas markets felt rather sharply at the beginning of the Monday session, as the markets focus more on spring and less on the recent cold snap across the U.S. Natural Gas Technical Analysis - Natural gas was crushed early Monday amid continued volatility. Nonetheless, this is a market that I think you have to see as range-bound. We are reaching the lower part of the range, so I think sooner or later the selling pressure will abate.	FXEmpire	North America Outlook: Future Looks Promising for Natural Gas-Fired Power Projects, Hydrogen Still a Way Off
Kerry: U.S. won't reverse clean energy transition, regardless of election outcome		The transition toward clean energy and electric vehicles will not be interrupted, regardless of who wins the 2024 U.S. presidential election, outgoing U.S. climate envoy John Kerry said on Tuesday. Kerry, speaking on a panel at the World Economic Forum in Davos, Switzerland, was bullish on the trajectory of the energy transition, even amid global concern that a possible second Trump presidency could reverse some of the Biden administration's key climate policies. "This economic revolution is underway and it's much bigger than any politician, any one person," Kerry told the Davos audience. He said the CEOs of some of the largest corporations are making clean energy and vehicle investments now that they are unlikely to reverse.	Reuters	Orsted Achieves 50% Turbine Installation at U.S. Offshore Windfarm, Signs PPA for Texas Solar Project
Week 01/15/24 - 01/22/24		What's next on the Agenda? The world is digesting the outcomes from COP28 UAE and more recently WEF Davos 2024 as voters throughout the world prepare to head to the polls, where economic & energy security, as well as climate change, will be on the agenda. For the moment, it appears the global crude market is slowly rebounding; although there is significant geopolitical tension - from Eastern Europe to the Middle East to Asia - there remains much economic uncertainty surrounding demand and its recovery. NatGas, on the other hand, seems to have given up on Old Man Winter and is pushing back toward lows stateside, though surprises may yet lie ahead. The only thing certain to be on the agenda is endless debate over what world leaders should focus on, as there remains much uncertainty to what lies ahead for economies, energy, environment and sustainability.
*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.

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