Energy News
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The former president of a Texas energy company was sentenced today to six years and six months in prison for his role in an illegal kickback scheme and a commodities insider trading scheme involving natural gas futures contracts. According to court documents, Matthew Clark, 56, of Needville, Texas, conspired with others to direct his employer’s trades to ...
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A former IRS employee was charged in Utah federal court for allegedly trying to steal $2.1 million in tax credits owed to Exxon Mobil by diverting the funds using a taxpayer database he had access to. Prosecutors said Wednesday that former IRS account management worker Rodney Quinn Rupe received a U.S. Treasury check for $2,100,377 in January after ...
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A lot has happened to the economy since COVID struck, and reading the economic tea leaves has become more difficult. Many of the gains for many Australians in 2020 and 2021 were artificial and didn’t last. The COVID Supplement temporarily doubled JobSeeker, for example. JobKeeper paid workers what their employers could not. As these measures have been ...
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The FOMC meets on Tuesday and Wednesday of the June 10 week. The FOMC statement released at 14:00 ET on Wednesday will get a close read for any guidance in regard to the interest rate outlook. However, it is the summary of economic projections (SEP) that may be more informative. Markets will be looking for hints about any changes in the FOMC forecasts that ...
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Goldman Sachs on oil, in brief: • Sees a $90/bbl ceiling in their base case of no geopolitical supply hits, and the risks to their $75-$90 range as modestly to the downside for oil prices. • We expect that healthy consumers and solid summer demand for transportation and cooling will push the oil market in a sizable Q3 deficit of 1.3mb/d. • "We therefore ...
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It's a big week coming up for oil, especially on Tuesday and Wednesday (FOMC Wednesday too!): The Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) will release their latest monthly oil market reports: • OPEC on Tuesday June 11. • IEA on Wednesday June 12. Last week(end), June 2, OPEC said it would extend its ...
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Investors may glean more on the Federal Reserve’s resolve to ease monetary policy when US policymakers update their forecasts for interest rates Wednesday for the first time in ...
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More than two years into the most aggressive Federal Reserve monetary tightening in four decades, the big surprise is that the world hasn’t fallen over. While US interest rates at ...
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The FOMC meets on Tuesday and Wednesday of the June 10 week. The FOMC statement released at 14:00 ET on Wednesday will get a close read for any guidance in regard to the interest ...
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French President Emanuel Macron said Sunday he was dissolving the National Assembly and calling a snap legislative election after his party suffered a heavy defeat in elections ...
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The crude oil selling resumed on Friday after a two-day respite, although the losses were not as severe as those observed earlier in the week and far less forceful than the drop in metals. This is because a strong jobs report and services PMI data both helped to reduce fears over weakening demand in the US. Still, concerns over China remained and prices ...
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Main scenario: consider short positions from corrections below the level of 80.85 with a target of 63.77 – 55.00. Alternative scenario: breakout and consolidation above the level of 80.85 will allow the asset to continue rising to the levels of 87.80 – 94.00. Analysis: supposedly, a downward correction continues developing as second wave of larger degree ...
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Singapore-based oil and commodities trading powerhouse Trafigura Group has posted the smallest profit since the 2020 oil crisis as volatility in energy markets hit new lows. Trafigura’s net profit dropped to $1.47 billion in the six months through March, good for a 73% decline from a record $5.5 billion posted a year earlier. The company’s revenue fell 5.4% ...