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• ☕️What Else is Brewing Thursday Morning
  Biden wants to triple tariffs on Chinese steel and aluminum. President...
  Biden wants to triple tariffs on Chinese steel and aluminum. President Joe Biden wants to boost the current 7.5% tariff on steel and aluminum imports from China to 25%, an idea he not-so-subtly introduced while campaigning in the battleground state of Pennsylvania, where US Steel is based. US Steel has become a thorny election issue for the president since the company’s efforts to sell itself to Japan’s Nippon Steel have drawn ire from unions and raised concerns over foreign ownership.
  
  The Senate dismissed the impeachment charges against Homeland Security Secretary Alejandro Mayorkas, bringing a swift end to Republicans’ effort to remove him from office over his handling of the Mexican border.
  
  House Speaker Mike Johnson unveiled the bills he hopes to pass to secure aid for Ukraine and Israel despite conservative opposition within his own party. A final vote is expected on Saturday.
  
  The president of Columbia University was grilled on antisemitism by the same House committee whose questioning led to the resignations of the presidents of Harvard and UPenn.
  
  A Boeing whistleblower shared safety concerns with a Senate committee, telling lawmakers, “They are putting out defective airplanes.”
  
  Zepbound, Eli Lilly’s weight loss drug, also reduces sleep apnea, a new study found.
  
  Google employees were arrested while staging a sit-in to protest the company’s work with Israel.
  
  Disneyland staffers who dress as characters filed a petition to form a union.
  

  
  
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• Closing Oil & Gas Prices
  Benchmark...

  Benchmark U.S. crude oil for May delivery fell $2.67 to $82.69 per barrel Wednesday. Brent crude for June delivery fell $2.73 to $87.29 per barrel.

  
  

  Wholesale gasoline for May delivery fell 9 cents to $2.73 a gallon. May heating oil fell 8 cents to $2.57 a gallon. May natural gas fell 2 cents to $1.71 per 1,000 cubic feet.

  
  
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• Stocks fall as S&P 500, Nasdaq see longest stretch of daily losses since January
  All three major U.S. stock indexes finished lower on Wednesday as the...
  All three major U.S. stock indexes finished lower on Wednesday as the prospect of higher-for-longer interest rates weighed on investors, handing the S&P 500 and Nasdaq Composite their longest streak of losses in more than three months.
  
  The Dow Jones Industrial Average closed down by 45.66 points, or 0.1%, at 37,753.31, based on preliminary data.
  
  The S&P 500 ended lower by 29.20 basis points, or 0.6%, at 5,022.21.
  
  The Nasdaq Composite finished down by 181.88 points, or 1.2%, at 15,683.37.
  
  The S&P 500 and Nasdaq each finished with their fourth straight session of losses on Wednesday — the longest stretch since the four- and five-day periods, respectively, that ended on Jan. 4.
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• Yellen Expects Further Sanctions on Iran, Oil Exports Possible Target
  U.S. Treasury Secretary Janet Yellen said on April 16 that she intends...
  U.S. Treasury Secretary Janet Yellen said on April 16 that she intends to hit Iran with new sanctions in coming days due to its unprecedented attack on Israel, and it could seek to reduce Iran's capacity to export oil.
  
  "With respect to sanctions, I fully expect that we will take additional sanctions action against Iran in the coming days," Yellen said, adding that Iran's oil exports remain "in focus as a possible area that we could address."
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• Asian LNG Prices Soar on Fears of Wider Middle East Conflict
  After lingering at around multi-month lows for nearly the entire winter...
  After lingering at around multi-month lows for nearly the entire winter heating season in the northern hemisphere, spot LNG prices for delivery into north Asia have jumped in recent days amid fears that an Israeli response to the Iranian attack could escalate into a regional conflict that could obstruct LNG cargo flows around the Middle East, most notably via the Strait of Hormuz, where 20% of the world’s LNG trade passes.
  
  Yet, spot LNG prices for delivery into North Asia surged on Tuesday to above $11 per million British thermal units (MMBtu), traders told Bloomberg.
  
  That’s the highest spot LNG price in Asia since early January 2024 and a 40% surge since the end of February.  
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