Energy News
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SpaceX boss Elon Musk is alleged to have had sex with a woman who was an intern at the rocket company, when she was still at university, before hiring her to a senior role years later and trying to embark on a relationship. The allegation is one of a number about Mr Musk’s advances towards and consensual sexual encounters with staff members which have been ...
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The technical carbon, which is heavily used in industry, especially in the production of tires, will now be produced in the wastewater treatment process. This will not only add economic benefits but also help reduce pollution. The daily processing of 120 tons of sludge into diesel and carbon black is the company's top priority for this year. This fuel can ...
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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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post: YELLEN: STRONG US GROWTH IS LIFTING GLOBAL GROWTH YELLEN: THE LABOR MKT REMAINS STRONG YELLEN: US LABOR MKT PRESSURES HAVE EASED, WAGES RISING MORE SLOWLY
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Working natural gas in storage across the United States amounted to 2,974 billion cubic feet (Bcf) in the week ending June 7, according to a report released by the Energy Information Administration (EIA) on Thursday. The total storage thus increased by 74 Bcf compared to the previous week. In comparison to the same period a year earlier, gas stocks rose by ...
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WTI crude oil returned above the medium-term ascending trend line, hitting the strong 200-day simple moving average (SMA) at 79.36 after bouncing off the four-month low of 72.46. The technical oscillators are indicating a negative retracement in the short-term view. The RSI is sloping slightly down near the 50 level, while the stochastic oscillator posted a ...
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It has been a topsy-turvy 24 hours for financial markets. Treasury yields plunged in the wake of the soft CPI report, but retraced a little as markets digested the more ...
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Although the Federal Reserve could still lower interest rates one or two times this year, it continues to signal that it is not in a hurry to adjust its monetary policy just yet. ...
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The BoE’s May MPC meeting saw Deputy Governor Dave Ramsden join long-term dove Swati Dhingra in calling for an immediate 25 basis point cut in interest rates. The other seven ...
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The Producer Price Index for final demand declined 0.2 percent in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices increased 0.5 ...
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In the week ending June 8, the advance figure for seasonally adjusted initial claims was 242,000, an increase of 13,000 from the previous week's unrevised level of 229,000. The ...
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In conjunction with the Federal Open Market Committee (FOMC) meeting held on June 11–12, 2024, meeting participants submitted their projections of the most likely outcomes for real gross domestic product (GDP) growth, the unemployment rate, and inflation for each year from 2024 to 2026 and over the longer run. Each participant’s projections were based on information available at the time of the meeting, together with her or his assessment of appropriate monetary policy—including a path for the federal funds rate and its longer-run value—and assumptions about other factors likely to affect economic outcomes. The longer-run projections represent each participant’s assessment of the value to which each variable would be expected to converge, over time, under appropriate monetary policy and in the absence of further shocks to the economy. “Appropriate monetary policy” is defined as the future path of policy that each participant deems most likely to foster outcomes for economic activity and inflation that best satisfy his or her individual interpretation of the statutory mandate to promote maximum employment and price stability. post: FED’S MEDIAN RATE FORECAST END-’24 AT 5.1%; PREV. 4.6% FED’S MEDIAN RATE FORECAST END-’25 AT 4.1%; PREV. 3.9% FED’S MEDIAN RATE FORECAST END-’26 AT 3.1%; PREV. 3.1% FED’S MEDIAN RATE FORECAST LONGER-RUN AT 2.8%; PREV. 2.6% post: FED POLICYMAKERS SEE END-2024 PCE INFLATION AT 2.6% VERSUS 2.4% IN MARCH PROJECTION; CORE SEEN AT 2.8% VERSUS 2.6% post: FED OFFICIALS RAISE 2024 INFLATION FORECAST TO 2.6%, UP FROM 2.4% IN MARCH FORECAST FED OFFICIALS SEE 4% UNEMPLOYMENT AT END OF 2024, UNCHANGED FROM MARCH FORECAST FED OFFICIALS SEE 2.1% GDP GROWTH IN 2024, UNCHANGED FROM MARCH FORECAST
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WTI crude oil is being rejected at the upper falling trendline and the 0.786 Fibonacci retracement at 78.88. RSI is still showing negative sentiment, indicating WTI is likely to slide back. If WTI is forming a bearish day today, a top and reversal pattern is also in place. Support at 76.60 and strong support at around 75.21. A break below 75, WTI is likely ...
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WTI crude oil returned above the medium-term ascending trend line, hitting the strong 200-day simple moving average (SMA) at 79.36 after bouncing off the four-month low of 72.46. The technical oscillators are indicating a negative retracement in the short-term view. The RSI is sloping slightly down near the 50 level, while the stochastic oscillator posted a ...
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The world's two most relied-upon crude oil benchmarks are WTI, predominantly traded on CME Group, and Brent, its European peer. Their attractiveness to financial investors is subject to a number of moving parts: the underlying supply/demand balance, economic considerations, weather and geopolitics. The weekly reports of the Commitment of Traders provide a ...