Energy News
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Scott Sheffield, the founder and longtime CEO of a leading American oil producer, attempted to collude with OPEC and its allies to inflate prices, federal regulators alleged on Thursday. The Federal Trade Commission said Sheffield exchanged hundreds of text messages discussing pricing, production and oil market dynamics with officials at the Organization of ...
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Some traders working for Exxon Mobil Corp. are set to lose their jobs because they don’t want to move from Brussels to London, according to a statement from its unions. The majority of Brussels-based trading staff at the oil giant said in an internal union-led survey that they won’t move to the British capital because of “uncompetitive” pay and a “lack of ...
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The past century has been a wild ride for investors. This article explores ten of the most dramatic plunges the stock market has witnessed, from the tech-fueled Dot-com bubble burst to the global economic shock of the COVID-19 pandemic. Each crash offers a unique story, exposing vulnerabilities in the system and highlighting the interconnectedness of ...
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In the week ending April 27, the advance figure for seasonally adjusted initial claims was 208,000, unchanged from the previous week's revised level. The previous week's level was revised up by 1,000 from 207,000 to 208,000. The 4-week moving average was 210,000, a decrease of 3,500 from the previous week's revised average. The previous week's average was ...
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Anticipated declines in demand and increased supply statistics have implied bearish pressures over oil charts. U.S Crude Oil inventories reported a positive change of 7.3 million barrels yesterday, while major oil exporters continue to disregard OPEC’s agreed upon supply cut quota. Amidst these market dynamics: • Saudi Aramco Base Oil is trading near its ...
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Some traders working for Exxon Mobil Corp. are set to lose their jobs because they don’t want to move from Brussels to London, according to a statement from its unions. The majority of Brussels-based trading staff at the oil giant said in an internal union-led survey that they won’t move to the British capital because of “uncompetitive” pay and a “lack of ...
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Wednesday’s Fed decision was largely unsurprising. But the most important data point of the day came long before the Fed decision. The latest JOLTS report showed the lowest levels ...
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Federal Reserve Chair Jerome Powell’s comments after two days of policy meetings were not as hawkish as many had feared given that U.S. inflation and economic activity ...
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The U.S. Department of Energy (DOE) applauds the release of National Security Memorandum 22 (NSM-22) on Critical Infrastructure Security and Resilience, which strengthens the role ...
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In the week ending April 27, the advance figure for seasonally adjusted initial claims was 208,000, unchanged from the previous week's revised level. The previous week's level was ...
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Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss our recent policy announcement and the Bank of Canada’s Monetary Policy Report. In April, we maintained our policy interest rate at 5% and published a revised outlook for the Canadian economy. We had three key messages. First, monetary policy is working. Total consumer price index (CPI) and core inflation have eased further in recent months, and we expect inflation to continue to move closer to the 2% target this year. Second, growth in the economy looks to be picking up. We expect GDP growth to be solid this year and to strengthen further in 2025. Third, as we consider how much longer to hold the policy rate at the current level, we’re looking for evidence that the recent further easing in underlying inflation will be sustained. Before taking your questions, let me take a moment to discuss recent economic data and the outlook for growth and inflation. In Canada, growth stalled in the second half of last year and the economy moved into excess supply. The labour market also cooled from very overheated levels. With employment growing more slowly than the working-age population, the unemployment rate has risen gradually over the last year to 6.1% in March. There are also some signs that wage pressures are beginning post: BOC'S GOV. MACKLEM: IF WE CUT INTEREST RATES AND THAT WEAKENS THE C$, THAT IS SOMETHING YOU TAKE INTO ACCOUNT WITH HOW MUCH YOU NEED TO REDUCE INTEREST RATES.
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Working natural gas in storage across the United States increased by 59 billion cubic feet in the week ending April 26 compared to the previous seven-day period to reach 2,484 ...
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Anticipated declines in demand and increased supply statistics have implied bearish pressures over oil charts. U.S Crude Oil inventories reported a positive change of 7.3 million barrels yesterday, while major oil exporters continue to disregard OPEC’s agreed upon supply cut quota. Amidst these market dynamics: • Saudi Aramco Base Oil is trading near its ...
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Natural gas is forming a double top formation on its hourly time frame, indicating that a reversal from the earlier climb is due. Price has yet to test and break below the neckline to confirm the selloff. The 100 SMA is below the 200 SMA to indicate that the path of least resistance is to the downside or that support is more likely to break than to hold, ...
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Intercontinental Exchange, Inc. (NYSE:ICE) today announced that its ICE Midland WTI futures contract is now further aligned with Midland WTI crude oil deliverable into Dated Brent and the rest of the Brent complex after ICE updated the quality specifications of the crude deliverable into the contract. The underlying crude oil quality of HOU futures now ...