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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for March delivery...
  Benchmark U.S. crude oil for March delivery fell $1.23 to $76.64 per barrel Wednesday. Brent crude for April delivery fell $1.17 to $81.60 per barrel.
  
  Wholesale gasoline for March delivery fell 7 cents to $2.32 a gallon. March heating oil fell 9 cents to $2.81 a gallon. March natural gas fell 8 cents to $1.61 per 1,000 cubic feet.
  
  
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• U.S. stocks finish higher as Dow bounces back from worst day since March 2023
  All three major stock indexes finished higher on Wednesday, shaking off...
  All three major stock indexes finished higher on Wednesday, shaking off weakness seen earlier in the day, as investors considered whether there may have been an overreaction to U.S. inflation data in the previous session. Meanwhile, Treasury yields broadly slipped as U.S. government debt rallied.
  
  The Dow Jones Industrial Average closed up by 151.52 points, or 0.4%, at 38,424.27, based on preliminary data. It had dropped 524.63 points, or 1.4%, on Tuesday for its worst performance since March 22, 2023.
  
  The S&P 500 finished up by 47.45 points, or 1%, at 5,000.62.
  
  The Nasdaq Composite Index ended up by 203.55 points, or 1.3%, at 15,859.15.
  
  
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• What is Ash Wednesday? Here’s what to know about the holy day marking the beginning of Lent
  Lent is a 40-day season of prayer, fasting, and...

  Lent is a 40-day season of prayer, fasting, and giving that Catholics and some Christians observe as a time of repentance and closeness to God in preparation for the day of Christ's resurrection, celebrated on Easter.

  
  

  Ash Wednesday is the kickoff of that season and is one of five on the Catholic liturgical calendar, along with Advent, Christmas, Easter, and Ordinary Time.

  
  

  That means you may see someone walking around with an ash cross on their forehead this Wednesday. Don't try to clean their forehead: Here's what it means and why the day figures so prominently in the Lenten season.

  
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• ConocoPhillips CEO Ryan Lance Calls LNG Pause ‘Shortsighted’
  ConocoPhillips Chairman and CEO Ryan Lance joined a chorus of oil and...
  ConocoPhillips Chairman and CEO Ryan Lance joined a chorus of oil and gas executives calling out U.S. President Joe Biden’s recent decision to pause LNG export applications, saying the decision is “shortsighted in the short-term.”
  
  “But it's unfortunate, it's clearly more politically driven than fundamental, but I think we feel pretty good. It just makes us feel a little bit better about what we're doing on the LNG side because of what we do have permitted,” Lance said.
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• Natural Gas Storage Forecast
  Yesterday, the prompt-month contract settled at $1.689/MMBtu, off the...
  Yesterday, the prompt-month contract settled at $1.689/MMBtu, off the $1.654 intraday low, with more losses expected without cold weather to support a boost in demand and trim the natural gas inventory surplus ahead of the injection season.
  
  Further depressing the market is the anticipation that the mild weather would result in another modest withdrawal from natural gas inventories when the U.S. Energy Information Administration (EIA) releases Thursday inventory data for the week ending Feb. 9.
  
  NGI — on target with its 75-Bcf withdrawal estimate for the week to Feb. 2 — modeled a 68 Bcf drawdown from natural gas storage for the next EIA print. Early estimates from Reuters ranged from withdrawals of 50 Bcf to 87 Bcf, with an average decrease of 75 Bcf. 
  
  A pull within expectations would compare bearishly against a withdrawal of around 117 Bcf during the same week last year and a five-year average decrease of about 149 Bcf. With the warmer weather trends for late February, inventory surpluses could balloon toward 400 Bcf, NatGasWeather said. 
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