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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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: 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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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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A more “unpredictable” U.S. will only add to the challenges facing the incoming European Parliament as it navigates increasingly fraught ties with China and Russia, according to ...
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The euphoria over nuclear energy as a power source for data centers is “overblown,” the CEO of a major power provider for large tech companies told CNBC in an interview Monday. ...
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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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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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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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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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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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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% ...