Energy News
-
Thieves are increasingly raiding solar power stations across Japan for copper transmission wiring as prices for the metal have surged globally. Local governments are planning ordinances to regulate trade in the metal, but they are seeking nationwide legal measures to discourage the thefts. One solar power farm in Ichikawa, Chiba Prefecture, was hit by ...
-
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 ...
-
When talking about the structure of the forward curve in the WTI futures market, there are two market terms traders should be familiar with. 1) Contango, when the forward price of a futures contract is higher than the spot price. 2) Backwardation, when the forward price of the futures contract is lower than the spot price. An oil lesson with Bob Iaccino ...
-
Russia’s invasion of Ukraine in February 2022 led to severe bans or restrictions on Russian oil from the West. Meanwhile, other nations—including China, India, and Türkiye—opted to deepen trade ties with the country. This graphic from the Hinrich Foundation is the final visualization in a three-part series covering the future of trade. It provides visual ...
-
post: BREAKING: Israeli official says Hamas has rejected the ceasefire and hostage deal proposed by President Biden - Axios
-
Natural gas recently broke through the resistance at the $2.800 mark and reached a high of $2.940 before pulling back. Price seems to have completed its retest and is resuming the climb to the swing high. A larger correction might still test the Fib levels to draw more buying pressure. The 38.2% Fib is holding so far at $2.734 while the 50% level is at ...
-
Wednesday is shaping up to be one of the most important days of the year for economic news, as investors will hear about the path of inflation and the manner in which the Federal ...
-
The median estimate (year-over-year, not seasonally adjusted) for the consumer price index (CPI) for the month of May 2024 is 3.4%. If 3.4% is the actual year-over-year increase ...
-
Opec has again kept its global oil supply and demand forecasts unchanged for this year and 2025. The group still expects demand to rise by 2.25mn b/d to 104.46mn b/d in 2024 and ...
-
Total nonfarm payroll employment increased by 272,000 in May, and the unemployment rate changed little at 4.0 percent, the U.S. Bureau of Labor Statistics reported today. ...
-
Chinese consumer price index inflation grew less than expected in May as consumption remained largely languid in the face of an uncertain economic recovery. But producer price ...
-
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 ...
-
Brent oil quotes continue to move within the framework of growth development and have left the bearish channel. At the time of publication of the forecast, the price of Brent oil is $81.51 per barrel. Moving averages indicate a short-term bearish trend in oil. Prices are again testing the area between the signal lines, which indicates pressure from sellers ...
-
Natural Gas: chart Natural gas gains ground as traders focus on weather forecasts, which predict strong demand from June 13. In case natural gas settles above the resistance at $3.02 – $3.09, it will head towards the next resistance level, which is located in the $3.28 – $3.32 range. WTI Oil: chart WTI oil is mostly flat as traders react to OPEC 2024 ...
-
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% ...