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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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 ...
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Growth for global wind power is expected to slow this year as the industry faces struggles with rising costs, limited infrastructure and policy uncertainty. Installations are expected to increase by almost 6% in 2024, BloombergNEF said in a report. That compares with a jump of almost 35% in 2023. While the industry is forecast to add 124 gigawatts of ...
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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 by a further 1.85mn b/d to 106.31mn b/d next year, according to its latest Monthly Oil Market Report (MOMR). For this year's forecast, downward adjustments to demand in OECD ...
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post: BREAKING: Israeli official says Hamas has rejected the ceasefire and hostage deal proposed by President Biden - Axios
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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 ...
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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 ...
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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 ...
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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. ...
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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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post: BREAKING: Israeli official says Hamas has rejected the ceasefire and hostage deal proposed by President Biden - Axios
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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 ...
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After the Relative Strength Index (RSI) of Crude Oil retested its March 2023 lows, oil price rebounded from the $72.50 low back above its yearly trending support, towards a $78.30 high. The market has already priced in the increase in oil supplies concerning the expected demand potential and OPEC quota compliance. The next focus will be on the developing ...
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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% ...