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• EIA DATA: US crude stocks surge 3% to 439.5m bbls
  Wednesday's weekly EIA report was mixed for crude oil and products....
  Wednesday's weekly EIA report was mixed for crude oil and products.  On the negative side, EIA crude inventories rose by +12.02 million bbl, well above expectations of a +3.35 million bbl build.  Also, crude supplies at Cushing, the delivery point of WTI futures, rose +710,000 bbl. On the bullish side, EIA gasoline stockpiles fell -3.66 million bbl, a larger draw than expectations of -1.55 million bbl.
  
  Wednesday's EIA report showed that (1) U.S. crude oil inventories as of Feb 9 were -2.1% below the seasonal 5-year average, (2) gasoline inventories were -2.2% below the seasonal 5-year average, and (3) distillate inventories were -7.9% below the 5-year seasonal average.  U.S. crude oil production in the week ended Feb 9 was unchanged w/w at a record high of 13.3 million bpd.
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• Chesapeake to supply Gunvor with LNG from Delfin project
  Chesapeake Energy has entered a liquefied natural gas export deal to...
  Chesapeake Energy has entered a liquefied natural gas export deal to supply energy trader Gunvor with 551,000 short tons per year of LNG from the Delfin LNG project offshore Louisiana for 20 years, with deliveries starting in 2028. The deal "provides diversification and access to global LNG pricing while enabling the delivery of affordable, reliable, lower carbon energy to markets in need," said Chesapeake CEO Nick Dell'Osso.
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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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