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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Oil prices edged higher today as traders anxiously await tomorrow's CPI and FOMC risk catalysts for any signals on the trajectory of oil demand. “After recent declines, oil prices have room to recover in the short term,” Morgan Stanley analysts including Martijn Rats and Charlotte Firkins said in a note. “Nevertheless, inventories are currently higher than ...
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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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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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The global economy is expected to stabilize for the first time in three years in 2024—but at a level that is weak by recent historical standards, according to the World Bank’s ...
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The stunning results from the European election hammered home one reality for leaders on both sides of the Atlantic: People don’t like you messing with their cars. The EU’s plan ...
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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 ...
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Monthly real gross domestic product (GDP) is estimated to have shown no growth in April 2024, following growth of 0.4% in March 2024. Real gross domestic product is estimated to ...
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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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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 ...
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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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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% ...