Weather-Related Gov’t Shutdown Monday
Odds for Congress-related gov’t shutdown rising after Minnesota fracas | Will Trump support year-round E15 in Tuesday journey to Clive, Iowa?
| LINKS |
Link: Weekend Updates, Jan. 24
Link: Video: Wiesemeyer’s Perspectives, Jan. 23
Link: Audio: Wiesemeyer’s Perspectives, Jan. 23
| The Week Ahead: Jan. 25, 2026 |
| UP FRONT |
— Klobuchar says she’ll vote against DHS funding after fatal ICE shootings in Minnesota: Sen. Amy Klobuchar (D-Minn.) says two Minneapolis agent-involved deaths and what she calls “lawless” enforcement warrant new ICE restrictions and full investigations, as the shutdown deadline tightens.
— Bessent accuses Carney of ‘about-face’ on China, backs Trump tariff threat: Treasury Secretary Scott Bessent says Canada’s China deal could turn it into a conduit for Chinese goods and signals support for Trump’s 100% tariff warning as USMCA talks near.
— Trump’s Canada tariff threat sets combative tone for USMCA review: Trump’s China-focused rhetoric is shaping an early flashpoint for the USMCA review, with Canada insisting its limited EV/canola arrangement stays within USMCA rules but analysts warning the exemption risk is real.
— Senators urge Trump administration to target India as pulse crop oversupply deepens: Sens. Kevin Cramer (R-N.D.) and Steve Daines (R-Mont.) press for India market access and for USDA demand levers (Section 32/CCC buys, nutrition channels, food aid, MAP/FMD) as stocks-to-use stays crushingly high.
— CONGRESS: Hill leaders brace for another shutdown-style clash centered on DHS/ICE policy, with timing complications from the Monday federal closure tied to weather.
— Here we go again: Odds are rising for at least a partial gov’t shutdown over Homeland Security funding: DHS becomes the tripwire ahead of the deadline; the Monday closure could also delay select ag and energy data releases.
— Senate Democrats threaten shutdown over DHS funding after Minneapolis shooting: Schumer (D-N.Y.) says Democrats will withhold votes if DHS money remains, with multiple Democrats and a few Republicans calling for investigations while enforcement may continue via prior funding.
— Trump heads to Iowa ethanol country as E15 setback rekindles strategy debate: Trump’s Clive stop lands amid Corn Belt frustration after year-round E15 failed on the minibus, sparking finger-pointing over White House silence, GOP tactics, and refiner opposition despite API support.
— NCC and AMCOT praise bipartisan push to reorient textile supply chains toward U.S. cotton: Cotton groups back the Buying American Cotton Act’s tax-credit approach to lift U.S. cotton content, encourage domestic textile investment, and counter foreign supply-chain drift.
— KEY EVENTS: Week ahead features major dairy, feed, and trade events, plus Trump’s Iowa stop and a Senate EPW hearing on permitting.
— ECONOMIC REPORTS: Markets key on the Fed decision and Powell’s presser, plus confidence, durables, claims, trade, productivity, PPI, and Chicago PMI; some releases could slip due to Monday’s closure.
— AG REPORTS: USDA/market ag data flow is heavy later in the week (including prices and multiple livestock reports), with possible delays from Monday’s closure and added attention to Gulf food events and palm oil export updates.
— ENERGY REPORTS: The EIA Petroleum Status Report and weekly ethanol production headline midweek, with gas storage Thursday and rig count Friday, alongside a busy energy conference calendar and major earnings.
| TOP STORIES—Klobuchar says she’ll vote against DHS funding after fatal ICE shootings in MinnesotaSenator calls immigration enforcement actions “lawless,” urges GOP to join Democrats as shutdown deadline nears Sen. Amy Klobuchar (D-Minn.) said Sunday she will vote against any appropriations bill that includes funding for the Department of Homeland Security, citing two fatal shootings by federal immigration agents in Minneapolis this month and what she described as a breakdown of trust in immigration enforcement, according to NBC News, in an interview on Meet the Press. Democrats say they want new restrictions on ICE and a full investigation into the shooting.Klobuchar said DHS and Immigration and Customs Enforcement operations in Minnesota have “made us less safe,” pointing to the killing of Alex Pretti, a 37-year-old ICU nurse, and an earlier fatal shooting of Renee Nicole Good by a federal agent. Klobuchar said she could not support further funding while enforcement practices continue without new limits and accountability, telling NBC News that “the way that this agency has been functioning is completely against every tenet of law enforcement.” Her remarks add to mounting Democratic opposition to DHS funding as Congress approaches a late-month deadline that could trigger a partial government shutdown. Senate Democrats would need to withhold only a handful of votes to block passage. As we reported Saturday, Senate Minority Leader Chuck Schumer (D-N.Y.) said Saturday that Democrats would not provide the necessary votes if DHS funding remained in the bill. Klobuchar also disputed the Trump administration’s public account of Pretti’s killing, noting that bystander videos appear to contradict claims that he “violently resisted” agents. Local officials have said Pretti was a U.S. citizen with a legal permit to carry a firearm. Klobuchar called for transparent investigations into both deaths and urged Republican lawmakers to oppose DHS funding unless meaningful restrictions on enforcement operations are adopted. Of note: The Republican tax cut bill passed last year included significant funding for immigration enforcement, so ICE may be able to keep operating even if its annual appropriation lapses in the short term. Asked about potential political ambitions in Minnesota, Klobuchar said her focus is squarely on immigration enforcement in her state, telling NBC News there is “no time for politics right now.” —Bessent accuses Carney of ‘about-face’ on China, backs Trump tariff threatTreasury secretary warns Canada risks becoming a conduit for Chinese goods as USMCA renegotiation looms Treasury Secretary Scott Bessent accused Canadian Prime Minister Mark Carney of reversing course on China trade policy, arguing that Ottawa’s recent deal with Beijing undercuts earlier joint efforts with the U.S. to counter Chinese dumping. Speaking Sunday on ABC’s This Week, Bessent said Canada had previously aligned with the U.S. and Europe in imposing steep tariffs on Chinese steel, but that Carney’s new agreement signaled an “about-face.” Earlier this month, Canada agreed to lower tariffs on up to 49,000 Chinese-made electric vehicles to 6%, removing a 100% surtax, as part of a broader push to ease trade tensions with Beijing. Carney has said he expects China to cut tariffs on Canadian canola following talks with Xi Jinping. The move has drawn sharp criticism from Donald Trump and senior administration officials, who warn it could make Canada a backdoor for low-cost Chinese goods into the U.S. supply chain — especially autos. Bessent said the U.S. could impose 100% tariffs on Canadian goods if Ottawa were to pursue a free-trade deal with China or allow Chinese products to flow through Canada into U.S. markets. “We have a highly integrated market with Canada,” Bessent said, noting that components can cross the border multiple times during manufacturing. “We can’t let Canada become an opening that the Chinese pour their cheap goods into the U.S.” Canada’s U.S. trade minister Dominic LeBlanc has pushed back, saying Ottawa is not seeking a free-trade agreement with China and that the recent talks were aimed at resolving specific tariff disputes. Still, Bessent suggested the dispute could complicate a planned summer renegotiation of the U.S.-Mexico-Canada trade agreement. Trump amplified the warning over the weekend, posting on Truth Social that Canada would face 100% tariffs if it became a “drop-off port” for Chinese goods. Bessent also criticized Carney’s recent Davos remarks about middle powers banding together, dismissing them as “virtue-signaling” to global elites. —Trump’s Canada tariff threat sets combative tone for USMCA reviewChina dispute becomes early flashpoint as Washington, Ottawa brace for high-stakes trade talks Donald Trump is signaling an aggressive opening posture ahead of this year’s mandatory review of the U.S.–Mexico–Canada Agreement, threatening 100% tariffs on Canada if Ottawa deepens trade ties with China. The warning, aimed squarely at Prime Minister Mark Carney, frames Canada as a potential “drop-off port” for Chinese goods — language that underscores how China is emerging as a central fault line in the upcoming negotiations. Canadian officials pushed back quickly. Trade Minister Dominic LeBlanc said Ottawa is not pursuing a free-trade agreement with Beijing and described the U.S./Canada relationship as a “remarkable partnership.” He characterized the recent Canada/China accord as a narrow tariff truce rather than a strategic realignment. That Jan. 16 deal lowers Chinese tariffs on Canadian food products while Canada agrees to roll back a 100% surtax to allow up to 49,000 Chinese electric vehicles annually — less than 3% of Canada’s new-vehicle market. Carney said the move effectively resets tariffs to 2023 levels, adding that the EV cap and agricultural provisions are fully consistent with USMCA obligations. Still, Trump’s remarks inject fresh uncertainty into talks most economists had expected to end constructively. Canada is especially vulnerable: exports to the U.S. account for an outsized share of its economy, and while many goods remain tariff-free under USMCA, that protection is explicitly up for review this year. Analysts warn that losing the exemption could drive effective tariffs on Canadian exports well above current estimates of 5% to 7%. Trump has already cast doubt on the pact’s value, saying earlier this month there is “no real advantage” for the U.S. — a notable reversal for an agreement he once touted as a signature achievement. Upshot: The latest salvo suggests the USMCA review could unfold less as a technical update and more as a high-stakes geopolitical test, with China policy at its core. —Senators urge Trump administration to target India as pulse crop oversupply deepensCramer and Daines press for trade relief and USDA demand programs as dry bean and pulse stocks swell to unsustainable levels Sen. Kevin Cramer (R-N.D.) and Steve Daines (R-Mont.) recently urged the Trump administration to make expanded market access for dry edible beans and pulse crops a priority in ongoing and future trade negotiations with India, as U.S. growers grapple with severe oversupply conditions. Stocks-to-use ratios for pulses are hovering near 50% overall, with some specific classes exceeding 100%, levels that market analysts describe as historically extreme. The glut has weighed heavily on prices across the Northern Plains and Mountain West, pushing returns near — and in some cases below — cost of production. India looms large in the senators’ appeal because it is the world’s largest pulse consumer and the most consequential swing market for global trade. But it is also among the most restrictive. New Delhi routinely employs high applied tariffs, variable tariff-rate quotas, and abrupt import bans when domestic prices weaken, creating persistent uncertainty for U.S. exporters. Even a modest and predictable opening, the senators argue, could meaningfully tighten U.S. balance sheets given current supply conditions. While trade access remains the central focus, several domestic policy tools could also help boost consumption if the administration opts to deploy them. USDA has authority under Section 32 and the Commodity Credit Corporation to purchase dry beans and pulse crops, directing them into school meals, food banks, and nutrition assistance channels. Such purchases represent the fastest way to absorb excess supplies, though they would require clear White House support to elevate pulses alongside other commodities competing for limited funds. Nutrition programs offer another avenue. Dry beans and pulses align well with USDA dietary priorities — high protein, low cost, and shelf-stable — and could see expanded use in the National School Lunch Program and School Breakfast Program through updated menu guidance and procurement incentives. While unlikely to eliminate the surplus on their own, these programs could create steadier, structural demand. International food aid is also a potential outlet. Pulse crops are well suited for Food for Peace and McGovern-Dole school feeding programs due to their long shelf life and nutritional density. Expanded inclusion would both move volume and reinforce administration messaging on global food security. Longer term, USDA trade promotion funding through MAP and FMD could be more tightly targeted at pulse consumption in South Asia, the Middle East, and Africa, particularly if India remains unreliable. Emerging uses in plant-based protein and food ingredients offer additional promise, but those markets are unlikely to provide near-term relief for the current oversupply. Bottom Line for growers is stark. Without progress on India or meaningful use of domestic and food-aid demand tools, stocks-to-use ratios at current levels virtually guarantee continued price pressure into the next marketing year. That reality is driving the senators’ push for action — and raising the stakes for how the Trump Administration chooses to respond. |
| —CONGRESS |
—Here we go again: Odds are rising for at least a partial gov’t shutdown over Homeland Security funding. Meanwhile, the U.S. government will be closed Monday due to the ongoing weather issues. That could impact the timing of some ag and energy reports.
—Senate Democrats threaten shutdown over DHS funding after Minneapolis shooting
Party unites behind hard line on immigration enforcement as Jan. 31 funding deadline looms
Senate Democrats signaled Saturday they are prepared to force a partial government shutdown rather than support a spending package that includes funding for immigration enforcement agencies, following another fatal shooting involving federal officers in Minneapolis.
In a statement, Senate Minority Leader Chuck Schumer (D–N.Y.) said Democrats will not provide the votes needed to advance a gov’t funding package if it includes money for the Department of Homeland Security (DHS). “What’s happening in Minnesota is appalling — and unacceptable in any American city,” Schumer said, citing the latest deadly encounter involving federal immigration officers.
The stance reflects a sharp hardening of Democratic unity after the killing of a 37-year-old Minnesota man by a U.S. Border Patrol officer. The incident followed a surge of border-control personnel into Minneapolis under the Trump administration’s immigration crackdown, which has sparked protests and physical confrontations.
Several Democrats who previously voted to reopen the gov’t during a November shutdown said they would now oppose DHS funding. Jacky Rosen (D–Nev.), one of the Democrats who broke ranks last year, said she now has a responsibility “to hold the Trump administration accountable when I see abuses of power.”
Funding for DHS is embedded in a broader package covering roughly $1.3 trillion in annual spending, raising the prospect of a shutdown when government funding expires at 12:01 a.m. on Jan. 31. Senate Democrats are expected to hold a caucus wide call Sunday to finalize strategy.
Other Democrats publicly opposing DHS funding include Catherine Cortez Masto (D–Nev.), who said federal agents were “oppressing Americans,” as well as Andy Kim (D–N.J.), Mark Kelly (D–Ariz.), Ruben Gallego (D–Ariz.), Mark Warner (D–Va.), and Chris Van Hollen (D–Md.).
Tim Kaine (D–Va.) had already objected to folding DHS into a larger package, citing a lack of safeguards around Immigration and Customs Enforcement (ICE) operations.
Signs of unease extended beyond Democrats. House Homeland Security Committee Chairman Andrew Garbarino (R–N.Y.) said he has asked top DHS officials, including Rodney Scott, to testify before his panel. In the Senate, Lisa Murkowski (R–Alaska) said an earlier Minneapolis shooting by ICE was “deeply disturbing” and called for a thorough investigation.
This week, the Senate is scheduled to take up six appropriations bills funding the military and social services for the remainder of fiscal 2026. Republicans hold a 53–47 majority, but 60 votes are required to advance most legislation. The House has already bundled six bills — including DHS and Pentagon funding — into a single package and sent it to the Senate. Opposing DHS funding would therefore mean voting against the entire measure, including roughly $831 billion for the military.
Adding to Democratic momentum, Brian Schatz (D–Hawaii), widely viewed as a leading contender to become the next Senate Democratic whip, said he would vote no on DHS funding, calling recent incidents “unlawful, needlessly escalatory, and making all of us less safe.”
Even if Democrats succeed in blocking the package, the move would do little in the short term to curb immigration enforcement. President Trump’s “One big, beautiful bill” — already provided $4.1 billion to hire and train additional Border Patrol agents, ensuring enforcement operations continue regardless of the immediate funding fight.
—Trump heads to Iowa ethanol country as E15 setback rekindles strategy debate
President’s Clive stop underscores growing tension between White House silence, GOP leadership tactics, and rural pressure to revive year-round E15
| President Donald Trump is scheduled to travel Tuesday to Clive, Iowa, a suburb of Des Moines, where he is expected to give a short speech an then head short distance to tour an ethanol facility — a visit landing squarely amid fresh frustration across corn country after growers and biofuel producers failed last week to secure mandated year-round E15 in a must-pass minibus spending bill. |  |
The timing has amplified criticism from some in the ag and renewable fuels sectors, who argue the E15 amendment might have made it into the package had President Trump and the White House weighed in forcefully. That support never came, leaving the industry to absorb another setback in its long-running push to allow higher-ethanol gasoline blends to be sold nationwide throughout the year.
Others close to the process say the problem ran deeper than White House silence. Several Republican leaders, they note, remain wary of attaching politically sensitive policy changes to individual appropriations measures, preferring to keep such fights off spending bills that are already fragile. From that perspective, year-round E15 was always a tough lift on a minibus — regardless of presidential engagement.
Of note: Some general farm media was also errant in thinking additional farmer aid would take a ride on the minibus, but that was never seriously considered, as this will likely occur in a coming supplemental spending measure.
Complicating matters further was the corn/biofuel industry’s hefty reliance on backing from the American Petroleum Institute (API). While API ultimately supported the amendment, some smaller refining companies objected, undercutting the show of industry unity corn and biofuel advocates had hoped would sway GOP leadership. Instead, Republican leaders pursued an alternative route — establishing an E15 Council tasked with developing standalone legislation later — a maneuver that drew sharp criticism from corn growers who saw it as an end-around that sacrificed urgency.
Still, veteran Washington observers caution against declaring the issue dead. Several sources say mandated year-round E15 could resurface in a supplemental spending bill widely expected later this year — one that may include additional farmer aid, agricultural disaster assistance, and other provisions. In that context, E15 could be framed less as a niche fuel policy and more as a demand-creation tool for struggling farm states.
One longtime observer summed it up bluntly: “Trump and Republicans will eventually wake up to the fact that rural America is struggling mightily and begin to do something to address the heart of the matter, which is to create demand, rather than just react to the symptoms in the ag sector.”
That view adds weight to Tuesday’s ethanol tour in Iowa, where corn growers and biofuel executives will be watching closely — not just for photo ops, but for signs that the White House may finally re-engage on E15 as more than a talking point.
—NCC and AMCOT praise bipartisan push to reorient textile supply chains toward U.S. cotton
Buying American Cotton Act (BACA) would use tax incentives to boost demand for U.S.-grown fiber and strengthen domestic agriculture and manufacturing
The National Cotton Council (NCC) strongly supports the introduction of the Buying American Cotton Act (BACA) and thanks Representatives Greg Murphy (R‑N.C.) and TerriSewell (D‑Ala.) for their bipartisan leadership. “America’s cotton producers are facing the combined pressures of low commodity prices and high input costs,” said Patrick Johnson, NCC Chairman. “By leveraging the traceability of U.S. cotton and rewarding retailers who choose products made in whole or in part with U.S. cotton, BACA will help strengthen demand for our crop, support investment in U.S. textile manufacturing, and enhance the resilience of our supply chains.”
The tax credits established under this legislation will encourage the use of U.S.-grown cotton and U.S.-manufactured yarns and fabrics, incentivize investment in domestic textile mills, and promote the relocation of manufacturing closer to home. BACA will also motivate companies to increase the U.S. cotton content of products on store shelves, while reinforcing existing industry efforts to address country‑of‑origin concerns and supporting regional stability in key partner countries.
Meanwhile, the American Cotton Marketing Cooperatives (AMCOT) is also applauding broad bipartisan support. The bill was first introduced in the Senate in May 2025 and was introduced in the House this week with bipartisan sponsorship.
AMCOT argues the BACA approach would deliver structural, long-term changes rather than temporary market support, reinforcing the domestic cotton industry from farm to finished goods.
AMCOT Chairman Meredith Allen said the legislation comes at a critical moment for farm and textile communities that have steadily lost market share to foreign-produced fibers, emphasizing that the bill could help re-anchor large U.S. supply chains around American cotton.
The House version has attracted a geographically broad slate of Democratic and Republican original co-sponsors, while the Senate bill has backing from lawmakers across major cotton-producing states as well as key agriculture voices.
| —KEY EVENTS |
Mon., Jan. 26
• International Dairy Foods Association’s Dairy Forum 2026, through Wednesday, Palm Desert, California.
Tue., Jan. 27
• President Donald Trump speaks at the Horizon Events Center in Clive, Iowa. He will also tour an ethanol facility.
• American Feed Industry Association annual Pet Food Conference, Atlanta.
• International Production & Processing Expo, through Thursday, Atlanta.
• Center for Strategic and International Studies webinar on “The Future of AGOA: Building American Prosperity Through African Partnership.”
• Brookings Institution event on “One year of ‘America First’ trade policy: What did we learn, and what comes next?”
Wed., Jan. 28
• American Sheep Industry Association annual convention, through Saturday, Reno, Nevada.
• American Feed Industry Association hosts an IPPE Nutrition Symposium for a “New Understanding About Old Ingredients,” Atlanta.
• American Feed Industry Association co-hosts an event with USDA and other government agencies on the trade of animal food products, Atlanta.
• International Food Policy Research Institute webinar on “Better Diets & Nutrition Webinar Series Session 2: Demand Creation for Fruits and Vegetables.”
• International Food Policy Research Institute webinar on “Unpacking the Untapped Potential of the School Feeding Labor Force.”
• Senate Environment and Public Works Committee hearing on the federal environmental review and permitting processes.
| —ECONOMIC REPORTS |
—Timing of some reports could be impacted due to the Monday weather-related U.S. government shutdown. The Fed’s interest rate decision midweek is expected to be the macro item, with investors parsing Chairman Jerome Powell’s press conference for clues on the timing and pace of future easing. Markets will also track consumer confidence, durable goods orders, jobless claims, PPI data, and the Chicago PMI for confirmation on the inflation and growth outlook.
Mon., Jan. 26
• Chicago Fed National Activity Index
• Durable Goods Orders
• Dallas Fed Mfg. Survey
Tuesday, Jan. 27
• Consumer Confidence
• Richmond Fed Manufacturing
• Corporate earnings: American Airlines, Boeing, UPS, UnitedHealth, Texas Instruments, Seagate, and Microsoft report quarterly results.
Wed., Jan. 28
• Corporate earnings: Reports from GE Vernova, Meta Platforms, Tesla, IBM, and Starbucks.
Thur., Jan. 29
• Jobless Claims
• International Trade
• Productivity and Costs
• Factory Orders
• Wholesale Inventories
• Corporate earnings: Major reports including Apple, Caterpillar, Mastercard, Comcast, and others.
Fri., Jan. 30
• PPI-FD
• Chicago PMI |
• Corporate earnings: Reports from American Express, Exxon Mobil, Chevron, Regeneron Pharma, Verizon.
| —AG REPORTS |
—Some USDA reports may be delayed due to Monday’s weather-related government shutdown. Focus during the week will also be on a food conference in Dubai and Malaysia’s palm oil exports in January.
Mon., Jan. 26
• Export Inspections
• Malaysia Jan. 1-25 palm oil exports
• Gulfood conference, Dubai, Jan. 26-30
• Holiday: Australia, India
Tue., Jan. 27
• Livestock and Meat Domestic Data
• Peanut Stocks and Processing
• EU weekly grain, oilseed import and export data
• Global Grain and Pulses Forum, Dubai
• South Africa’s winter crop forecast, summer area
Wed., Jan. 28
• Broiler Hatchery
• Unica cane crush, sugar production (tentative)
Thur., Jan. 29
• Export Sales
• Slaughter Weekly
Fri., Jan. 30
• CFTC Commitments of Traders report
• Livestock and Meat International Trade Data
• Egg Products
• Agricultural Prices
• Cattle
• Sheep and Goats
• Peanut Prices
| —ENERGY REPORTS |
—Chevron and Exxon Mobil are due to report 4Q results on Jan. 30, with Baker Hughes, Valero and NextEra among the energy industry companies doing the same during the week. Energy-related conferences include events in Singapore, India, Libya, Germany, Italy and the U.S.
Mon., Jan. 26
• No major recurring U.S. weekly energy supply reports
• Markets position ahead of inventory data later in the week, and weekend weather events.
• North Sea Summit, Hamburg
• Libya Energy & Economic Summit, Tripoli (last day)
• Angola final loading program for March crude exports due
• BNEF Summit San Francisco (through Jan. 27)
• Holiday: Australia, India, U.S. weather-related gov’t shutdown
Tue., Jan. 27
• American Petroleum Institute (API) Weekly Statistical Bulletin
• Commodity Trading Week APAC, Singapore (through Jan. 28) .
• India Energy Week, Goa (through Jan. 30)
• Hyvolution conference, Paris (through Jan. 29)
• Handelsblatt Energy Summit 2026, Berlin (through Jan. 29)
• EU/India summit, New Delhi
• BNEF Summit San Francisco (last day)
• Brent options for March expire
• Earnings: NextEra Energy 4Q, FY
Wed., Jan. 28
• EIA Petroleum Status Report
• Weekly Ethanol Production
• Commodity Trading Week APAC, Singapore (last day)
• Genscape weekly crude inventory report for Europe’s ARA region
• India Energy Week, Goa (through Jan. 30)
• Future Power Grids 2026 conference, Berlin (through Jan. 29)
• Hyvolution conference, Paris (through Jan. 29)
• Handelsblatt Energy Summit 2026, Berlin (through Jan. 29)
• Baker Hughes Annual Meeting, Florence, Italy (through Jan. 30)
• Woodside Energy 4Q report
Thur., Jan. 29
• EIA Natural Gas Report
• Singapore onshore oil-product stockpile weekly data
• Insights Global weekly oil-product inventories in Europe’s ARA region
• Main North Sea programs for March due
• Hyvolution conference, Paris (last day)
• Future Power Grids 2026 conference, Berlin (last day)
• India Energy Week, Goa (through Jan. 30)
• Baker Hughes Annual Meeting, Florence, Italy (through Jan. 30)
• Handelsblatt Energy Summit 2026, Berlin (last day)
• Earnings: Valero 4Q, FY
Fri., Jan. 30
• Shanghai exchange weekly commodities inventory
• Baker Hughes Annual Meeting, Florence, Italy (last day)
• UK Hydrocarbon Oils Bulletin
• India Energy Week, Goa (last day)
• ICE Futures Europe weekly commitments of traders report
• Brent March futures expire
• Earnings: Imperial Oil 4Q, Chevron 4Q, Exxon Mobil 4Q
