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• API Reports Drop in Crude Oil Inventories
  The U.S. crude inventory balance fell by 4.383M barrels during the week ended...

  The U.S. crude inventory balance fell by 4.383M barrels during the week ended Oct. 13, according to the API. That contrasted with a 12.94M jump in the prior week to Oct. 6 led largely by a sharp decline in exports.

  
  

  Aside from that balance, the API also noted a 1.005M barrel decline at the Cushing, Oklahoma delivery point for U.S. crude, versus the previous week’s draw of 0.547M. Cushing storage levels have dropped drastically this year, prompting concerns they might reach such critical lows to complicate operations at the storage hub.

  
  

  On the fuel side, the petroleum trade group reported a gasoline inventory slide of 1.578M barrels and distillate stock drop of 0.612M barrels. In the prior week, gasoline saw a 3.645-M barrel build while distillates experienced a 3.535M drop.

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• ☕️What Else is Brewing Wednesday Morning
  Historybook: "Moby-Dick" is first published (1851); The US purchases Alaska from...
  Historybook: "Moby-Dick" is first published (1851); The US purchases Alaska from Russia (1867); Thomas Edison dies (1931); Astronauts Jessica Meir and Christina Koch conduct first all-female spacewalk (2019); Former Secretary of State Colin Powell dies (2021).
  
  X will start charging $1 a year to new users in New Zealand and the Philippines as part of its “Not A Bot” program intended to reduce spam and bot activity.
  
  The IRS announced it’ll launch a free tax filing service in 13 states next year, so your TurboTax days could soon be over.
  
  StubHub said ticket sales for the upcoming NBA season are up 60% from last year, thanks to increased interest from fans outside the US.
  
  Poland’s right-wing governing party looks likely to be ousted following the country’s general election, which is being described as a victory for liberal values.
  
  Goldman Sachs CEO David Solomon has reportedly decided to stop DJing because it was creating a distraction for the Wall Street firm. “This is not news,” a Goldman spokesman told FT.
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• Israel and Palestinians Blame Each Other for Blast at Gaza Hospital That Killed Hundreds
  Hundreds of people were killed by a strike at a hospital in Gaza City on Tuesday night...

  Hundreds of people were killed by a strike at a hospital in Gaza City on Tuesday night where thousands of civilians had been sheltering.

  
  

  The Gazan health authorities said the blast had been caused by an Israeli airstrike; the Israel Defense Forces said it was caused by a rocket fired by a Palestinian armed group that malfunctioned after launching. Neither assertion could be immediately verified.

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• Dow ekes out gain as U.S. stocks stage big reversal
  U.S. stocks fell on Tuesday but finished well above session lows,...
  U.S. stocks fell on Tuesday but finished well above session lows, with the Dow popping into the green just before the end of the trading day. Investors weighed a number of factors, including strong U.S. retail sales data, rising Treasury yields, and a growing optimism surrounding third-quarter corporate earnings. Also, the Russell 2000 RUT which is focused on small-cap stocks, took the lead, outperforming the tech-heavy Nasdaq Composite, a rare occurrence during a year where many corners of the stock market have performed poorly relative to mega-cap technology stocks. The S&P 500 SPX fell less than a point to finish at 4,373.20, according to preliminary closing data from FactSet. The Nasdaq Composite COMP fell 34.24 points, or 0.3%, to 13,533.75. The Dow Jones Industrial Average DJIA gained 13.11 points, or less than 0.1%, to 33,997.65.
  
  
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• Closing Oil & Gas Prices for Tuesday
  Benchmark U.S. crude oil for November delivery...
  Benchmark U.S. crude oil for November delivery was unchanged at $86.66 a barrel Tuesday. Brent crude for December delivery rose 25 cents to $89.90 a barrel.
  
  Wholesale gasoline for November delivery rose 1 cent to $2.28 a gallon. November heating oil rose 3 cents to $3.18 a gallon. November natural gas fell 3 cents to $3.08 per 1,000 cubic feet.
  
  
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