OIL: First Sanctioned ESPO Cargo Discharges at Dongying, China: Kpler

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US President Donald Trump's inauguration speech has largely confirmed reporting ahead of today's swearing in ceremony. The speech contained few surprises and hit many of his preferred talking points. 

• Trump indicated that today's slate of executive orders will primarily pertain to energy and border security. He confirms that he will declare an 'energy emergency' today that will help bolster oil and gas production.
• Trump says inflation was caused by "massive overspending and escalated energy prices", indicating the route out of inflation is to "drill baby drill."
• Trump says he will fill the Strategic Petroleum Reserve up "right to the top" and "export American energy all over the world."
• As expected, Trump also confirmed he will declare a national emergency at the US-Mexico border that will allow for the immediate enforcement of some hardline border security measures, including deploying military assets to the border and reinstating 'remain in Mexico'.
• He confirms that he will designate narcotics cartels as foreign terrorist organisations, raising the prospect of US military force within Mexico.
• Although today's actions don't appear to cover any trade or tariff policy, Trump says he "will begin an overhaul of the trade system," and confirms the establishment of the 'External Revenue Service'.
• Trump also reiterates his desire to reassert US control over the Panama Canal.
• Trump says he will direct his Cabinet to "marshal the best powers at their disposal" to "defeat inflation" and "bring down costs and prices". 

The newly minted administration of US President Donald Trump has sent a memo to Republican lawmakers outlining immediate priorities for the Republican government. 

•  The memo is broken down into four sections, 'Make America safe again"; "Make America affordable and energy dominant again"; "Drain the swap"; and "Bring back American values".
• Some key items in the memo: "The Armed Forces, including the National Guard... will be deployed to the border to assist existing law enforcement personnel."
• "President Trump will begin the process of designating cartels as foreign terrorist organizations and use the Alien Enemies Act to remove them."
• "President Trump will declare an energy emergency and use all necessary resources to build critical infrastructure."
• "The President will unleash American energy by ending Biden’s policies of climate extremism, streamlining permitting, and reviewing for rescission all regulations that impose undue burdens on energy production and use, including mining and processing of non-fuel minerals."
• "President Trump will withdraw from the Paris Climate Accord."
• "President Trump’s energy policies will end leasing to massive wind farms..."
• "President Trump will announce the America First Trade Policy."
• Trump is currently delivering his inaugural address, stating that his presidency will face challenges, including a crisis of trust.
• At the conclusion of the speech, Trump will decamp to a room adjacent to the Senate chamber where he will sign the first of up to 200 executive orders prepared for his Day 1 agenda.