Energy News
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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 ...
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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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As the shift away from fossil fuels gathers pace, the Coalition has turned to an emissions-free technology that has a long and contentious history — nuclear fission. To help make sense of what role, if any, nuclear power could play we turned to Alan Finkel, Australia’s former chief scientist, and economist John Quiggin. These are the numbers that you should ...
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post: ECB'S VILLEROY: ECB RATE CUT MARKS A DECISIVE ORIENTATION.
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post: OPEC LEAVES 2025 WORLD OIL DEMAND GROWTH FORECAST UNCHANGED AT 1.85 MBPD.Monthly Oil Market Report In May, the OPEC Reference Basket (ORB) declined by $5.53, or 6.2%, m-o-m, to average $83.59/b. Oil futures prices declined, with the ICE Brent front-month contract falling by $6.00, or 6.7%, m-o-m, to average $83.00/b, and the NYMEX WTI front-month contract falling $5.77, or 6.8%, to average $78.62/b. The DME Oman front-month contract fell by $5.63, or 6.3%, m-o-m, to average $83.74/b. The front-month ICE Brent/NYMEX WTI spread narrowed by 23¢ to average $4.38/b. The price structure of ICE Brent and NYMEX WTI weakened and money managers were bearish amid heavy selling. The premium of light sweet to medium sour crudes narrowed further across all major trading hubs on a weaker light sweet market. post: OPEC LEAVES 2024 WORLD OIL DEMAND GROWTH FORECAST UNCHANGED AT 2.25 MILLION BPD - MONTHLY REPORT **OPEC LEAVES 2025 WORLD OIL DEMAND GROWTH FORECAST UNCHANGED AT 1.85 MBPD **OPEC TRIMS ESTIMATE OF Q1 2024 TOTAL OIL DEMAND BY 50,000 BPD TO 103.51 MILLION BPD; INCREASES Q2…
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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 ...
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That’s the title of a Timiraos/WSJ article three days ago: Typically in the recovery from a downturn, households are more cautious about spending and are likely to save. When ...
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The Federal Open Market Committee blackout period has mercifully spared the public from the cacophony of Fed-speak for nearly two blissful weeks. US Federal Reserve communications ...
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The leaders of China, South Korea, and Japan met in Seoul to attend the ninth trilateral summit meeting after a hiatus of four and half years. The summit meeting was scheduled at ...
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post: ECB'S Simkus: Too Early To Declare Victory Over Inflation - Rates Can Be Cut More If ECB Sure 2% Goal Will Be Met
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post: ECB'S VILLEROY: ECB RATE CUT MARKS A DECISIVE ORIENTATION.
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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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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 ...
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The bullish signal in WTI crude oil I was seeking came to fruition late last week, delivering a sharp rebound that accelerated on Monday. But despite renewed optimism surrounding the economic health of the world’s largest crude consumer, the United States, you can’t escape the fact that OPEC producers are set add barrels to the global marketplace from ...
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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% ...