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• Winter freeze bites US oil refining capacity
  The winter deep freeze across the US Gulf Coast has knocked out some 15% of the region's oil-refining...
  The winter deep freeze across the US Gulf Coast has knocked out some 15% of the region's oil-refining capacity – equivalent to 1.5 million barrels a day – leading to temporary fuel production outages. While the disruptions are expected to be brief, some may extend into the planned maintenance season.
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• ☕️What Else is Brewing Monday Morning
  Markets: The world may be on edge, but investors...
  Markets: The world may be on edge, but investors haven’t noticed. The S&P 500 enters the week at an all-time high, buoyed by a resilient US economy, lower inflation, and hype around tech advances. Netflix shares have been surging ahead of its earnings report tomorrow.
  
  A big red flag for the economy just popped up. New Fed data shows bank credit levels have fallen for three straight quarters, a first since 2010. That’s a sign companies are borrowing less, which means less spending on projects that lead to economic growth.
  
  Nearly 90 people have died across the US connected to the past week’s deep freeze. Much warmer weather is coming.
  
  Movie musicals are so back, as Mean Girls topped the box office for the second straight week.
  
  Nick Dunlap, a University of Alabama sophomore, became the first amateur to win a PGA Tour event since Phil Mickelson in 1991. Unfortunately, he is not eligible to collect the $1.5 million first-place check.
  
  Chicago’s infamous rat hole was filled by an unknown assailant early Friday, but residents banded together to restore the hole later that day. If you know who vandalized the hole, reporting them to authorities would make you a—well—you know.
  
  A study found a strong correlation between Bigfoot sightings and the local black bear population.
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• The U.S. Rig Total Count Inches Higher
  This week, U.S. energy firms added oil and natural gas rigs for the first time in three...

  This week, U.S. energy firms added oil and natural gas rigs for the first time in three weeks, Baker Hughes reported as the combined oil and gas rig count rose by one to 620 in the week to Jan. 19.

  
  

  U.S. oil rigs fell by two to 497 this week, their lowest since mid-November, while gas rigs rose by three to 120.

  
  

  The U.S. combined count is still 151 less than a year ago when the total of oil and gas rigs was 771. In the past year, the decline included 116 oil rigs and 36 gas rigs.

  
  

  Oklahoma slipped by one to 42 rigs, still far below the 64 rigs reported a year ago.

  
  
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for February delivery...
  Benchmark U.S. crude oil for February delivery fell 67 cents to $73.41 per barrel Friday. Brent crude for March delivery fell 54 cents to $78.56 per barrel.
  
  Wholesale gasoline for February delivery fell 2 cents to $2.16 a gallon. February heating oil fell 3 cents to $2.66 a gallon. February natural gas fell 18 cents to $2.52 per 1,000 cubic feet.
  
  
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• S&P 500 closes at first record high in over two years as tech fuels U.S. stocks
  (Friday market close) The S&P 500® index (SPX)...
  (Friday market close) The S&P 500^® index (SPX) and the Dow Jones Industrial Average^® (DJI) powered to record-closing highs Friday due to a continued resurgence in "mega-cap" technology shares combined with better-than-expected earnings results and an unexpectedly strong consumer confidence reading to buoy investor confidence that the Federal Reserve may be able to engineer a "soft landing" for the economy.
  
  According to Nathan Peterson, director of derivatives analysis at the Schwab Center for Financial Research, investors have made an unexpectedly strong turn back into tech shares, which slumped sharply at the beginning of the year.
  
  "Strength in technology is acting as the locomotive, helping pull the 'S&P 500 train' above resistance to fresh all-time highs," Peterson said. Tech shares "have received more focus from investors as the recent rise in Treasury yields has led to money leaving rate-sensitive sectors, such as utilities, real estate, and small caps."  Here's where the major benchmarks ended:
  
  The S&P 500 index rose 58.87 points (1.2%) to 4,839.81, up 1.2% for the week;
  
  the Dow Jones Industrial Average gained 395.19 points (1.1%) to 37,863.80, up 0.7% for the week;
  
  the Nasdaq Composite^® (COMP) increased 255.32 points (1.7%) to a two-year high of 15,310.97, up 2.3% for the week.
  
  The 10-year Treasury note yield (TNX) fell about 1 basis point to 4.132%.
  
  The Cboe Volatility Index^® (VIX) fell 0.83 to 13.30.
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