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• ☕️What Else is Brewing Friday Morning
  Verizon is reportedly cutting 15k jobs in its largest layoff...
  Verizon is reportedly cutting 15k jobs in its largest layoff ever. According to the Wall Street Journal, the telecommunications giant plans to axe 15,000 roles in the next week in an effort to reduce costs under its new CEO, Daniel Schulman. Verizon—the largest telecom provider in the US—has lost postpaid phone subscribers in three straight quarters as it faces increased competition. Schulman told investors that the company is at a “critical inflection point,” and that he plans to streamline parts of the business that don’t have paths to profitability. Verizon’s stock ticked up about 1% yesterday following the news of the historic layoffs.
  
  Michael Burry of The Big Short fame deregistered his hedge fund, Scion Asset Management, hinting that he’s “on to much better things Nov. 25th.”
  
  Polymarket cut a deal with UFC parent company TKO Group Holdings to bring its prediction market to live combat sports.
  
  UK billionaire Joe Lewis, who was convicted of insider trading last year, received a pardon from President Trump.
  
  NBCUniversal is launching a new cable sports TV channel next week that will broadcast the live games that stream on Peacock.
  
  PepsiCo is introducing “naked” versions of Cheetos and Doritos without the artificial dye, rendering them a pale yellow color.
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• EIA forecasts larger US oil output record, price weakness
  The Energy Information Administration raised its US oil production forecast...
  The Energy Information Administration raised its US oil production forecast to a record 13.59 million barrels per day in 2025, followed by a slight decline next year. Prices are likely to remain under pressure as production continues to outpace demand, pushing global oil inventories to 3.18 billion barrels by late 2026, up from an anticipated 2.93 billion this quarter. West Texas Intermediate crude futures are forecast to average about $65.15 per barrel this year, while US gasoline prices could dip below $3 a gallon next year for the first time since 2020.
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• U.S. Crude Oil Inventories Increase Much More Than Expected
  Crude oil inventories in the U.S. increased by much more than anticipated...
  Crude oil inventories in the U.S. increased by much more than anticipated in the week ended November 7th, according to a report released by the Energy Information Administration on Thursday.
  
  The EIA said crude oil inventories shot up by 6.4 million barrels last week after jumping by 5.2 million barrels in the previous week. Economists had expected crude oil inventories to rise by 2.0 million barrels.
  
  At 427.6 million barrels, U.S. crude oil inventories remain about 4 percent below the five-year average for this time of year, the EIA said.
  
  Meanwhile, the report said gasoline inventories dipped by 0.9 million barrels last week and are about 4 percent below the five-year average for this time of year.
  
  Distillate fuel inventories, which include heating oil and diesel, also edged down by 0.6 million barrels last week and are about 8 percent below the five-year average for this time of year.
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• DAILY OIL PRICE: November 13, 2025
  Crude Oil: 58.69   (+0.20)....
  
  
  • Crude Oil: 58.69   (+0.20).
  
  
  • Nymex MTD AVG: 60.0154.
  
  
  • Natural Gas: 4.646   (+0.113).
  
  
  • Gasoline: 1.9597   (+0.0043).
  
  
  • Spreads: December/January (0.05)     January/February (+0.12).
  
  
  • Plains WTI Posting: 55.17   (+0.20).
  
  

  
  Source: Odessa American
  
  
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• Dow falls 800 points as major U.S. stock indexes tally worst day in over a month
  Major U.S. equity indexes had their worst session in...

  Major U.S. equity indexes had their worst session in more than a month on Thursday as doubts about further Fed interest-rate cuts caused selling that had mostly been concentrated in AI-related stocks to spread to other corners of the market.

  
  

  The result was the worst showing for the S&P 500, Nasdaq Composite, Dow and Russell 2000 since Oct. 10, Dow Jones Market Data showed.

  
  

  Once the dust had settled, only the energy sector finished in positive territory. All 10 of the S&P 500's other sectors, including health-care and consumer staples stocks that had spent some of the session in the green, ended lower.

  
  

  The S&P 500 fell 113.43 points, or 1.7%, to finish at 6,737.49, according to preliminary FactSet data.

  
  

  The Dow shed 797.60 points, or 1.7%, to close at 47,457.22.

  
  

  The Nasdaq Composite shed 536.10 points, or 2.3%, to finish at 22,870.36.

  
  

  The Russell 2000 fell 67.81 points, or 2.8%, at 2,382.98.

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