Energy News
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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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A shadow-fleet oil tanker that crashed in Denmark’s vital straits produced a set of insurance documents that weren’t valid, a stark example of how there’s little clarity about who would pay the bill if such a ship had a major disaster. The Andromeda Star, an 820-foot vessel capable of transporting about 730,000 barrels of oil, was involved in a collision ...
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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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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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The latest HCOB PMI® survey conducted by S&P Global showed the downturn in German manufacturing production easing at the start of the second quarter, coinciding with a slower decline in new export business. Overall inflows of new work, by contrast, fell at a faster rate, with a steep and accelerated drop in factory gate prices – the sharpest since 2009 - ...
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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 May FOMC meeting brought little by way of surprises – rates unchanged, guidance unchanged, albeit with a marginally quicker QT taper than some had expected. Clearly, the next ...
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Semiconductor selling, an unsure FOMC, and a downright shocking ISM report make today the biggest of the year, argues OJ. Two changes on his Risk Radar, one more surprising than ...
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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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Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have remained strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated. In recent months, there has been a lack of further progress toward the Committee's 2 percent inflation objective. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals have moved toward better balance over the past year. The economic outlook is uncertain, and the Committee remains highly attentive to inflation risks. In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent. In considering any adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. Beginning in June, the Committee will slow the pace of decline of its securities holdings by reducing the monthly redemption cap on Treasury securities from $60 billion to $25 billion. The Committee will maintain the monthly redemption cap on agency debt and agency mortgage‑backed securities at $35 billion and will reinvest any principal payments in excess of this cap into Treasury securities. The Committee is strongly committed to returning inflation to its 2 percent objective. In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation e post: FOMC STATEMENT COMPARE pic.twitter.com/eNQfsvqMI8 post: FED VOTE IN FAVOR OF POLICY WAS UNANIMOUS. post: *FED HOLDS BENCHMARK RATE IN 5.25%-5.5% TARGET RANGE *FED: LACK OF FURTHER PROGRESS TOWARD 2% GOAL IN RECENT MONTHS post: THE FED DOES NOT EXPECT IT WILL BE APPROPRIATE TO CUT RATES UNTIL IT HAS GAINED GREATER CONFIDENCE INFLATION IS MOVING SUSTAINABLY TOWARD 2%.
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After PMI data had hinted at the start of a recovery in March, an upturn in the Italian goods producing sector failed to materialise in April. Both new orders and output signalled ...
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Spain’s manufacturing economy expanded at an accelerated rate in April as firms bolstered production and employment levels in response to an uplift in market demand. Buoyed by ...
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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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video Natural gas pulls back again to test recent support around the top trendline of a symmetrical triangle bottom consolidation pattern. Today’s low was 1.91 and the four-day low was also 1.91. Tuesday’s high of 2.09 was the highest price for natural gas since February 7 and indicates that demand may be improving overall. Characteristics of the pullback ...
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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 ...