Good afternoon and happy Thursday, readers! The government is back in action after the longest government shutdown, with federal employees now heading back to work.

In today’s newsletter, we first take a look at International Energy Agency projections that global oil supply is expected to jump 3.1 million barrels per day this year and 2.5 million next year 🛢️. We break down what these numbers mean for the oil markets.

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Meanwhile, in New York, the state is hitting pause on a

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