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• Mix of factors signal possible relief at the pump
  Easing geopolitical tensions, Russia's swift refinery repairs and the...
  Easing geopolitical tensions, Russia's swift refinery repairs and the end of US refinery maintenance season are expected to help soften US gasoline prices before the summer driving season begins. "Money managers were reducing their bets on higher energy prices last week, in what appears to be an unwind of the positions added the prior week when it seemed like we might have an all-out war between Israel and Iran," wrote traders at wholesale fuel supplier TACenergy.
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• US shale drillers deploy new tech to boost productivity
  After years of declining shale productivity, breakthroughs such as three-mile...
  After years of declining shale productivity, breakthroughs such as three-mile laterals, simultaneous fracking tech, and electric pumps are breathing new life into US shale operations, promising to make fracking more efficient and economical. Adoption of simul-fracking, which can slash well costs by $200,000 to $400,000 each, is rising, despite barriers such as high upfront costs and the necessity to have multiple pre-drilled wells that can be fracked simultaneously.
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• ☕️What Else is Brewing Friday Morning
  Big Tech earnings roundup. Alphabet, Microsoft, and...
  Big Tech earnings roundup. Alphabet, Microsoft, and Snap reported Q1 earnings yesterday, and the vibes were generally good. Alphabet issued its first-ever dividend and authorized $70 billion in stock buybacks after it beat Wall Street’s revenue expectations. Microsoft also beat revenue forecasts on the strength of its cloud services. And Snap shares soared after it topped estimates and impressed investors with its 422 million global daily active users. It was a much-needed boost for the sector after Meta spooked the market with how much it’s spending on AI gizmos.
  
  USC canceled its May commencement ceremony over worries that pro-Palestinian protesters would disrupt it.
  
  Southwest Airlines is pulling out of four US airports, including Houston’s George Bush Intercontinental Airport, amid Boeing’s delivery issues.
  
  The FCC voted to restore net neutrality, classifying the internet as a public utility, which will make it harder for providers to play favorites with certain websites.
  
  Haiti Prime Minister Ariel Henry resigned as the country is overrun with gang violence.
  
  The Chicago Bears selected USC quarterback Caleb Williams with the first overall pick in this year’s NFL Draft.
  
  
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for June delivery ...
  Benchmark U.S. crude oil for June delivery rose 76 cents to $83.57 per barrel Thursday. Brent crude for June delivery rose 99 cents to $89.01 per barrel.
  
  Wholesale gasoline for May delivery rose 3 cents to $2.76 a gallon. May heating oil was unchanged at $2.55 a gallon. May natural gas fell 1 cent to $1.64 per 1,000 cubic feet.
  
  
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• Dow ends sharply lower as stocks fall on weaker-than-expected U.S. GDP data
  U.S. stocks ended lower on Thursday after data showed that the U.S. economy...
  U.S. stocks ended lower on Thursday after data showed that the U.S. economy expanded at a modest 1.6% annual pace in the first three months of 2024, marking the weakest reading in almost two years.
  
  The Dow Jones Industrial fell 375.12 points, or 1%, to end at 38085.80. It was down 1.8% at its session low.
  
  The S&P 500 dropped 23.21 points, or 0.5%, to finish at 5048.42, snapping a three-session winning streak. The large-cap benchmark index was down as much as 1.6% at its low on Thursday.
  
  The Nasdaq Composite declined 100.99 points, or 0.6%, to close at 15611.76. The tech-heavy index was down 2.4% at its worst level on Thursday.
  
  
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