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• Fed 50 Basis Hike Chances Slim and None
  Odds for a jumbo hike have since gone to zero, according to CME's FedWatch Tool, with...
  Odds for a jumbo hike have since gone to zero, according to CME's FedWatch Tool, with traders now putting roughly 62% odds to a 25-basis-point move, which would match February's increase.
  
  "Just a few days ago, the CPI data release was the key crystal ball to look at to ascertain the Fed's next move," said Seema Shah, chief global strategist at Principal Asset Management.
  
  Now, economic data has taken a backseat. "The ferocity of financial system stress will dictate Fed policy next week," Shah added.
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• API Report Build in Crude Oil Inventories
  The American Petroleum Institute (API) on Tuesday showed a 1.155 million barrel build bringing...
  The American Petroleum Institute (API) on Tuesday showed a 1.155 million barrel build bringing the total gains this year to a staggering 56 million barrels.
  
  While crude oil saw a build, it was the only build this week, with product inventories falling.
  
  Gasoline inventories fell by 4.587 million barrels after last week’s data showed the fuel inventories rose by 1.840 million barrels. Distillates fell by 2.886 million barrels after increasing by 1.927 million bpd in the week prior.
  
  Inventories at Cushing, Oklahoma, decreased by 946,000 barrels more than undoing the 24,000 barrel hike reported last week.
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• Closing Oil & Gas Prices for Tuesday
  Benchmark U.S. crude oil for April delivery fell...
  Benchmark U.S. crude oil for April delivery fell $3.47 to $71.33 a barrel Tuesday. Brent crude for May delivery fell $3.32 to $77.45 a barrel.
  
  Wholesale gasoline for April delivery fell 4 cents to $2.55 a gallon. April heating oil fell 5 cents to $2.71 a gallon. April natural gas fell 4 cents to $2.57 per 1,000 cubic feet.
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• Dow snaps 5-day losing streak, S&P 500 gains 1.7% as regional banks rally
  Stocks ended sharply higher, but only after a choppy round of...
  Stocks ended sharply higher, but only after a choppy round of afternoon trading that saw the Dow Jones Industrial Average dip into negative territory.
  
  Stocks were lifted as bank shares clawed back a chunk of the ground lost amid the collapse of Silicon Valley Bank. First Republic Bank, which plunged nearly 75% on Monday, bounced back by around 28% in Tuesday's session, while the SPDR S&P Regional Banking ETF rose 2.2%.
  
  
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• Russian Warplane Collides With U.S. Drone Over Black Sea
  A Russian warplane on Tuesday intercepted a U.S....

  A Russian warplane on Tuesday intercepted a U.S. surveillance drone over the Black Sea, striking the drone’s propeller and forcing it down in international waters, according to U.S. European Command, which called the incident “unsafe and unprofessional.”

  
  

  The collision occurred at around 8:03 a.m. Central European Time and involved two Russian Su-27 fighter jets and an MQ-9 Reaper drone, the statement said. One of the Russian fighters struck the propeller of the drone, it said.

  
  
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