tweet at 10:33am: New: Senate Ds and Biden have struck tentative deal. Faster total phaseout on stimulus checks, but keep unemployment benefit bonus payments at $400 per week instead of $300. Looks like everything is baked and Senate ready to vote today https://t.co/pnSYigUaDD tweet at 10:31am: #BIDEN AGREES TO PHASE OUT DIRECT CHECKS AT FASTER RATE: SOURCE - BBG *SENATE AMENDMENT EXPECTED TO KEEP UI AT $400/WEEK THROUGH AUG. *SENATE AWAITS CBO SCORE BEFORE ACTING ON STIMULUS BILL tweet at 10:36am: BREAKING: Biden agrees to lower cutoffs for receiving stimulus checks to $80,000 report @LauraLitvan story in @TheTerminalBiden backs lower income cap for direct payments in $1.9 trillion relief package President Joe Biden has backed a plan to cut the income caps for receiving a direct payment as part of the $1.9 trillion coronavirus relief package set to pass in the coming days, a Democratic source said Wednesday. The phase out for the $1,400 stimulus checks begins at: • $75,000 for single filers (same as the bill the House passed); now ending at $80,000 • $112,500 for heads of household (same as the House plan); now capped at $120,000 • $150,000 for joint filers (same as the House measure); now ending at $160,000 The structure would slash the direct payment income caps approved by the House. Under the lower chamber’s bill, individuals making up to $100,000 (and joint filers earning up to $200,000) would have received some sum. The White House did not immediately respond to a request to comment.

U.S. crude oil refinery inputs averaged 9.9 million barrels per day during the week ending February 26, 2021 which was 2.3 million barrels per day less than the previous week’s average. Refineries operated at 56.0% of their operable capacity last week. Gasoline production increased last week, averaging 8.3 million barrels per day. Distillate fuel production decreased last week, averaging 2.9 million barrels per day. U.S. crude oil imports averaged 6.3 million barrels per day last week, increased by 1.7 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 5.7 million barrels per day, 12.8% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 605,000 barrels per day, and distillate fuel imports averaged 321,000 barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 21.6 million barrels from the previous week. At 484.6 million barrels, U.S. crude oil inventories are about 3% above the five year average for this time of year. Total motor gasoline inventories decreased by 13 tweet at 10:32am: *U.S. WEEKLY CRUDE STOCKPILES RISE BY THE MOST SINCE 1982 tweet at 10:37am: The Texas weather, power issues have played a big part in this week's numbers. #OOTT tweet at 10:40am: Crude slammed by the algos/fast money on the headline, then lifted by those looking through the data and then lifted some more by those seeing this as a reason for OPEC not to increase production as much as the might have pre-fig.. You love to see it. https://t.co/lDNXTMtpfH tweet at 10:41am: OIL MARKET: As expected, the U.S. supply and demand balance sheet is all over the place. Huge stock build in crude, even larger stock draw in combined gasoline and diesel. But all in all, U.S. petroleum stocks down 2.8 million barrels over the week. But data is very noisy | #OOTT https://t.co/fkba2Zommh

tweet at 7:57am: Sunak: UK Budget Deficit Forecasts 2020/21 - 17% of GDP 2021/22 10.3% of GDP tweet at 7:58am: UK'S SUNAK - OBR FORECASTS UNDERLYING 2020/21 PUBLIC DEBT TO GDP RATIO OF 88.8% UK'S SUNAK SAYS MARKETS IN RECENT WEEKS HAVE SHOWN SOVEREIGN BOND YIELDS RISING FAST tweet at 8:03am: UK Chancellor Sunak says corporation tax to rise to 25% (from current 19%) in 2023; says UK will still have lowest corporation tax rate in the G7 tweet at 8:04am: UK'S SUNAK SAYS NEW HIGHER RATE OF CORPORATION TAX WILL NOT APPLY TO BUSINESSES WITH PROFITS UNDER 50,000 POUNDS tweet at 8:08am: UK'S SUNAK SAYS WILL ANNOUNCE A 'SUPER DEDUCTION' TO REDUCE TAX BILL IF BUSINESSES INVEST