Oil futures are on the rise, driven by optimism around Chinese stimulus measures and robust Middle Eastern crude demand, pushing prices to nearly three-month highs. In the U.S., the Biden administration plans to ban drilling in some coastal waters, utilizing a law that could hinder reversals by future administrations. Recent Treasury Department regulations for clean hydrogen tax breaks have positively impacted stocks of companies like Plug Power and Bloom Energy, while easing of rules for nuclear-power plants to produce clean hydrogen has boosted nuclear-energy stocks. Green-energy firms are shifting their pitch to emphasize their ability to meet future energy demands, rather than solely focusing on clean and affordable projects. Amidst these developments, natural gas stocks are gaining momentum due to structural changes in export capacity, potentially keeping U.S. gas prices elevated. However, U.S. crude oil inventories fell less than anticipated, with gasoline and distillate fuels seeing significant builds. In international news, Russian gas flow to Europe halted after Ukraine refused to renew a pipeline deal, though the impact is expected to be limited due to Europe's diversified energy supplies. Additionally, Puerto Rico faced a power outage on New Year's Eve, leaving over 1.2 million without electricity, with grid managers working on a 24-48 hour restoration timeline.