Between Scott Bessent’s idea to push for a 15% increase in oil output and Trump’s first salvo of tariffs, the U.S. energy sector faces some pain after January 20. Soybeans are faring worse - with China taking half of US exports, and other suppliers available, Beijing retaliation target seems clear.

Biden's team stepped up Russia energy sanctions today with sanctions against Gazprombank, which makes it much harder to process payments for Russia's deliveries of natural gas to customers in Europe. But the waiver allowing Russian energy exports remains in place until 30 April 2025.

Biden on Wednesday: "Looking forward to having a smooth transition, everything we can to make sure you're accommodated" Trump on Thursday: "We cannot let this man who is diminished mentally and physically, but much worse mentally, we cannot let him tell us what to do with our country."

As Biden completes his term, one big turnaround from his early day is improved relations with Mideast Gulf Arab states, especially after the Gaza conflict. In this US election cycle, neither party wants to criticize Riyadh or Abu Dhabi. direct.argusmedia.com/newsandanaly...