Coming up this week…

Hold the Biscoff cookies... Airlines have canceled 20K+ flights since Christmas because of Omicron-driven staffing shortages and bad weather. Delta recently reported a $408M loss for the holiday quarter, when thousands of workers called in sick. But the airline expects to return to profitability after the first quarter of this year, and predicts business travel will bounce back in the spring. We’ll see whether United, which is expected to post a quarterly loss on Thursday, also sees clearer skies ahead.

Not so pumped... about #PumpAnxiety. Oil prices jumped 40% last year, prompting Biden to offer an extra $4.5B to help low-income Americans with winter heating costs. Oil prices could hit $125/barrel this year, up from $50 last year. Soaring gas prices have benefited Schlumberger, the world’s largest oil-tech biz (think: giant robo drills). Schlumberger posted expectation-beating profits last quarter as customers like Chevron boosted production to meet demand. Schlumberger, which reports Friday, expects higher spending on its drilling tech as production revs up.