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• API Reports Rise in Crude Oil Inventories
  Crude oil inventories in the United States rose this week, by...
  Crude oil inventories in the United States rose this week, by 423,000 barrels for the week ending March 1, according to The American Petroleum Institute (API), after analysts had predicted a 2.6 million barrel build. The API reported an 8.428-million-barrel rise in crude inventories in the week prior.
  
  On Tuesday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 0.7 million barrels as of March 1. Inventories are now at 361 million barrels—the highest level since May 2023. 
  
  Cushing inventories rose again this week, by 500,000 barrels after rising by 1.825 million barrels in the previous week.
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• ☕️What Else is Brewing Wednesday Morning
  Biden, Trump on a collision course for November. Like...
  Biden, Trump on a collision course for November. Like the NBA Finals from 2016–2018, the upcoming presidential election is all but guaranteed to be a rematch after President Biden and former President Trump coasted through their primaries on Super Tuesday, the electoral extravaganza when people in 16 states and American Samoa headed to the polls. Trump’s GOP challenger Nikki Haley only won a single state—Vermont—but did not bow out of the race. Here are the main takeaways from Super Tuesday, including what we learned from down-ballot races.
  
  Jeff Bezos surpassed Elon Musk to become the world’s richest person after he sold some of his Amazon stock and Tesla’s falling share price dinged Musk’s net worth.
  
  Perplexity, the AI search startup challenging Google, is now valued at $1 billion after a round of funding, the WSJ reported.
  
  McDonald’s will reportedly become the new naming sponsor of France’s top soccer league, Ligue 1, in a $65 million deal.
  
  The Biden administration announced an $8 cap on most credit card late fees and launched a joint FTC-DOJ “strike force” to crack down on price gouging.
  
  BowFlex, a fitness brand name you haven’t heard since 2004, filed for bankruptcy, citing the “post-pandemic environment and persistent macroeconomic headwinds.”
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil...
  
  
  Benchmark U.S. crude oil for April delivery fell 59 cents to $78.15 per barrel Tuesday. Brent crude for May delivery fell 76 cents to $82.04 per barrel.
  
  

  
  

  
  
  Wholesale gasoline for April delivery fell 6 cents to $2.53 a gallon. April heating oil fell 4 cents to $2.61 a gallon. April natural gas rose 4 cents to $1.96 per 1,000 cubic feet.
  
  
  
  
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• Dow Jones ends down over 400 points while Nasdaq suffers worst day in 3 weeks
  U.S. stocks tumbled for a second day on Tuesday as technology shares...
  U.S. stocks tumbled for a second day on Tuesday as technology shares came under pressure, dragged down by Apple’s continued slump, while investors remained cautious ahead of closely watched remarks by Federal Reserve Chair Jerome Powell and labor-market data, both of which should offer more clues on the central bank’s interest-rate path and the health of the economy.
  
  The S&P 500 SPX was down 1%, to end near 5,078.
  
  The Dow Jones Industrial Average DJIA fell 1%, to finish around 38,585.
  
  The Nasdaq Composite COMP tumbled 1.7%, ending near 15,939.
  
  The three major indexes also booked back-to-back losses after the S&P 500 and Nasdaq pulled back Monday from record finishes scored at the end of last week.
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• ExxonMobil's Woods: World "waited too long" on climate
  The world "waited too long" to invest in climate solutions and the...
  The world "waited too long" to invest in climate solutions and the public only has itself to blame for falling short on related goals, according to ExxonMobil CEO Darren Woods. Meanwhile, Woods says activists have worked to keep the fossil fuel industry out of the mix even though it has some of the best potential to achieve meaningful progress.
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