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• Oil transport affected as tanker rates rise
  Indian and Japanese refiners are turning to Murban crude due to its relatively low cost compared to WTI...
  Indian and Japanese refiners are turning to Murban crude due to its relatively low cost compared to WTI Midland, which is being affected by disruptions to tanker routes due to unrest in the Middle East. Geopolitical discord is likely to lead to an increase in US crude supplies headed to Europe, while Asia depends more on Middle Eastern crude.
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• 🛬The FAA plans to pay more attention to Boeing’s production.
  Because none of us will ever be able to fly again without thinking about the moment a door plug blew...
  Because none of us will ever be able to fly again without thinking about the moment a door plug blew off an Alaska Airlines plane midflight, the Federal Aviation Administration vowed to step up its oversight of Boeing. The agency plans to audit the production of 737 Max 9 planes to ensure Boeing and its suppliers are following safety rules. It will also review its longstanding policy of letting companies’ manufacturing workers conduct some of their own safety checks of planes. And, in further fallout from the incident, passengers who were on the scary flight have filed a lawsuit against Boeing, according to Bloomberg.
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• ☕️What Else is Brewing Saturday Morning
  JPMorgan had its most profitable year ever. Earnings...
  JPMorgan had its most profitable year ever. Earnings season began with a bang yesterday, as the four biggest banks in the US reported how they wrapped up 2023. JPMorgan Chase raked in $49.6 billion for the year—a 32% jump from 2022 that topped its previous record profit from 2021. But things weren’t so rosy everywhere: Citigroup posted a $1.8 billion loss for the final quarter and announced plans to lay off 20,000 employees. And Bank of America’s Q4 profit was $3.1 billion, which is 56% less than it made during the same quarter the year before. Wells Fargo boosted its profits for the quarter by 9%, but its costs also came in higher than expected
  
  You’re probably somewhere cold. Winter storms and a polar vortex sweeping in prompted weather advisories in every state in the lower 48 yesterday.
  
  The US is seeking the death penalty against Payton Gendron, who killed 10 Black people in a racially motivated shooting at a Buffalo supermarket. It’s the first time that federal prosecutors have been given permission to seek the punishment in a new case under the Biden administration.
  
  The Supreme Court has agreed to hear a case over whether Starbucks must rehire pro-union employees who were fired.
  
  Denmark’s getting a new king tomorrow.
  
  Jerod Mayo will replace Bill Belichick as head coach of the New England Patriots.
  
  TikTok chef Lynn Yamada Davis, who entertained 17 million followers with her Cooking with Lynja videos, died at age 67
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• EIA: Inventories of commercial crude oil rose last week
  The Energy Information Administration reported a 1.3-million-barrel...
  The Energy Information Administration reported a 1.3-million-barrel increase in crude oil stockpiles accompanied by an increase in gasoline and distillate inventories of 8 million barrels and 6.5 million barrels, respectively. Crude oil inventories remain about 2% lower than the five-year average for this time of year.
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• Closing Oil & Gas Prices for Friday
  Benchmark U.S. crude oil for February delivery...
  Benchmark U.S. crude oil for February delivery rose 66 cents to $72.68 per barrel Friday. Brent crude for March delivery rose 88 cents to $78.29 per barrel.
  
  Wholesale gasoline for February delivery rose 1 cent to $2.12 a gallon. February heating oil was unchanged at $2.67 a gallon. February natural gas rose 21 cents to $3.31 per 1,000 cubic feet.
  
  
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