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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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• Gas plant explosion in Greenwood, Texas
  The Midland County Sheriff's office is currently evacuating within an...
  The Midland County Sheriff's office is currently evacuating within an estimated one-mile radius of a gas plant explosion in Greenwood which occurred early Wednesday morning. There have been no injuries reported at the scene which is reported to be near the intersection of FM 1379 and ECR 120. Residents within this area have been asked to leave immediately and avoid the vicinity until it is deemed safe to return.
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• ☕️What Else is Brewing Wednesday Morning
  Investment banking is so back (almost). All of the...
  Investment banking is so back (almost). All of the biggest banks have reported their first-quarter results, and their earnings have been as good as, if not better than, expected. Higher interest rates ate into the spoils—Bank of America reported yesterday that its profit dropped 18% compared to the same period last year—but investment banking arms did well, especially since many banks increased their fees, and dealmaking and IPOs started to pick up again. But despite perking up, investment banking activity is still below where it used to be. Strong consumer spending also helped banks out, with credit card income rising and people and businesses continuing to need loans.
  
  One America News Network settled voting technology company Smartmatic’s lawsuit over claims the network made about its machines in the 2020 presidential election.
  
  USC canceled a valedictorian speech by a student who had publicly supported Palestine, citing safety concerns.
  
  A second member of Congress has signed on to the effort to oust House Speaker Mike Johnson as he tries to get aid for Ukraine and Israel passed.
  
  Volkswagen employees will begin voting today on whether to join the United Auto Workers in the first big test of the union’s power since it won favorable contracts from Detroit’s Big Three manufacturers.
  
  Update on your high-school date spots: TGI Fridays is going public through a merger with its UK franchisee, and Red Lobster is considering bankruptcy to deal with its debt.
  
  
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for May delivery ...
  Benchmark U.S. crude oil for May delivery fell 5 cents to $85.36 per barrel Tuesday. Brent crude for June delivery fell 8 cents to $90.02 per barrel.
  
  Wholesale gasoline for May delivery rose 4 cents to $2.82 a gallon. May heating oil was unchanged at $2.65 a gallon. May natural gas rose 4 cents to $1.73 per 1,000 cubic feet.
  
  
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