Oh-Oh -- Here We Go -- April 4, 2024

Locator: 46918B.

Pay attention to Lousiana Light Sweet -- some see LLS as a proxy for Bakken (also light sweet). Difference of course is proximity to refiners.

Permian: existing wells break even at $37.

Gasoline demand, link here:

Tickers at the close:

• CVX: up slightly; pretty much flat
• DVN: down 23 cents;
• MPC: up $1.32;
• EPD: down 12 cents;

Market spooked by one of the Fed presidents saying "what's wrong with higher for longer?"