This week, energy executives and officials from around the globe will be gathering in Houston for CERAWeek by S&P Global. With the war in Ukraine, sanctions on Russian products, and economic weakness ongoing, balancing energy security with climate goals is expected to be in the spotlight at the conference.

US crude export volume will remain in focus, after federal data last week showed a 1-million-barrel surge in US crude exports to a record high 5.6 million b/d. US crude exports to Europe and Asia have soared as refiners continue to seek replacements for Russian supplies.

Downstream, US refiners are bracing for a newly proposed EPA fuel policy shift that would ban use of the current summertime gasoline blend sold in the Midwest, likely starting next year. Changes to the region's supply chain costing up to $800 million per year will be needed to accommodate eight states' petitions for gasoline with 15% ethanol to be sold within their borders year-round.

The London Metal Exchange will release data this week on the origins of metal stocks in its warehouses. The LME looks to publicly monitor its share of Russia-origin metal, and the report may provide early indications on aluminum warehousing trends before the US' 200% tariff on Russian aluminum takes effect Friday.

New England's power grid operator will start its 17th forward power capacity auction on Monday. Auctions are held annually, and resources compete for commitments to supply power capacity in exchange for a market-priced capacity payment.

I'm Jared Anderson. Thank you for kicking off your Monday with S&P Global Commodity Insights.