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Retail sales improve in January 2021 (SPY -0.1%). Texas winter storm highlights the importance of fossil fuels and oil prices gain as Texas freeze effects crude production. Here is the current market situation from CNN Money European markets are mixed to lower. Shares in Germany are off as the DAX drops 0.52%. The FTSE 100 is down 0.18% while the CAC 40 in France is unchanged. What Is Moving the Markets Here are the headlines moving the markets. Oil Prices Soar As U.S. Oil Production Plunges 30% West Texas Intermediate jumped over $60 per barrel after the Polar Vortex that brought unusually cold weather to a large part of the U.S. frozeliterallya third of oil production. Citing unnamed sources from the industry familiar with the details, Bloomberg reported that U.S. oil production is now 3.5 million bpd lower than it was before the cold snap hit, marking the largest ever production decline in history. In the Permian, production came down by as much as 65 percent. According

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