Energy News
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Nvidia’s market value crossed $3 trillion for the first time Wednesday, propelling the chipmaker above Apple to become the second-most valuable company in the world. The chipmaker, whose processors are central to powering the current artificial intelligence (AI) craze, saw its shares climb 5.16 percent Wednesday ahead of Friday’s stock split. Microsoft ...
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A debate at London city council surrounding an already pulled back curfew on gas-powered lawn and gardening equipment boiled over Tuesday afternoon. The civic works committee proposed holding a public meeting on the idea of a curfew on the use of gas-powered lawn and garden equipment from 6 p.m. to 8 a.m. The bylaw currently prohibits the use of all ...
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GDP, or gross domestic product, is all over financial news. It’s a measure of the value of all the goods and services in a country, but what does it actually mean? Well, it works as an indicator for how well or poorly a nation’s overall economy is faring. Do policies need adjusting? Are people gainfully employed? Watch to learn how GDP works and why it ...
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Oil gained for a second session as expectations waned that OPEC and its allies will allow the market to become oversupplied. West Texas Intermediate rose to settle above $75 a barrel, rebounding from the four-month lows it hit earlier in the week after OPEC+ decided to start adding some supply to the market in October. Ministers have since reiterated that ...
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In April, Canada's merchandise exports increased 2.6%, while imports rose 1.1%. As a result, Canada's merchandise trade deficit with the world narrowed from $2.0 billion in March to $1.0 billion in April. Consult the "International trade monthly interactive dashboard" to explore the most recent results of Canada's international trade in an interactive ...
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Natural gas might be in for a reversal on its slide, as the commodity price formed an inverted head and shoulders pattern on its hourly time frame. Price is still testing the neckline of the formation, and a break above the resistance around $2.600 could confirm that a rally of the same height is in the cards. This might be enough to take natural gas up to ...
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ECB President Christine Lagarde explains the Governing Council's monetary policy decisions and will answer questions from journalists at the Governing Council press conference to ...
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Canada’s merchandise trade deficit narrowed on higher energy and gold exports. The country recorded a C$1.05 billion trade deficit in April, from C$1.99 billion a month earlier, ...
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Bank of Japan (BOJ) Governor Kazuo Ueda said on Thursday (Jan 6) it would be appropriate to reduce the central bank's bond buying as it moves toward an exit from massive monetary ...
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The Governing Council today decided to lower the three key ECB interest rates by 25 basis points. Based on an updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission, it is now appropriate to moderate the degree of monetary policy restriction after nine months of holding rates steady. Since the Governing Council meeting in September 2023, inflation has fallen by more than 2.5 percentage points and the inflation outlook has improved markedly. Underlying inflation has also eased, reinforcing the signs that price pressures have weakened, and inflation expectations have declined at all horizons. Monetary policy has kept financing conditions restrictive. By dampening demand and keeping inflation expectations well anchored, this has made a major contribution to bringing inflation back down. post: #ECB CUTS DEPOSIT FACILITY RATE BY 25BPS TO 3.75%; EST. 3.75% - BBG *ECB CUTS MARGINAL LENDING FACILITY TO 4.50%; EST. 4.50% *ECB CUTS MAIN REFINANCING RATE BY 25BPS TO 4.25%; EST. 4.25% post: ECB SAYS ECB WILL CONTINUE TO REINVEST, IN FULL, PRINCIPAL PAYMENTS FROM MATURING SECURITIES PURCHASED UNDER PEPP UNTIL END OF JUNE 2024 || ECB SAYS OVER SECOND HALF OF YEAR, IT WILL REDUCE PEPP PORTFOLIO BY €7.5 BILLION PER MONTH ON AVERAGE ECB SAYS ECB INTENDS TO DISCONTINUE… post: ECB Not Pre-Committing To Any Particular Rate Path - Inflation Likely To Stay Above Target Well Into Next Year - Raises Inflation Forecasts For 2024, 2025European Central Bank cuts main interest rate by 0.25 points The European Central Bank has eased the pressure on borrowers across the eurozone after cutting its main interest rate for the first time in almost five years. The ECB reduced its deposit rate to 3.75% from a record high of 4%, putting it ahead of the US Federal Reserve and the Bank of England, which have yet to cut interest rates. Financial markets eagerly anticipated the first eurozone cut since September 2019, which will also affect the ECB’s main refinancing operations rate, which fell from 4.5% to 4.25%. City analysts had forecast the cut in borrowing costs at the ECB’s June meeting after signals that that the central bank was ready to offer more support to eurozone economies after a period of economic stagnation following the Russian invasion of Ukraine.
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In the week ending June 1, the advance figure for seasonally adjusted initial claims was 229,000, an increase of 8,000 from the previous week's revised level. The previous week's ...
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post: *LAGARDE: WOULDN'T SAY ECB IS MOVING IN DIALING-BACK PHASE post: ECB'S PRESIDENT LAGARDE: WE WILL NEED MORE DATA TO CONSTANTLY CONFIRM DISINFLATIONARY PATH. post: ECB'S PRESIDENT LAGARDE: WE'RE MORE RESTRICTIVE IN REAL TERMS THAN BACK IN SEPTEMBER. post: MORE ECB'S LAGARDE: I CANNOT CONFIRM THE THE 'DIALING BACK' PROCESS IS UNDERWAY, BUT THERE IS A 'STRONG LIKELIHOOD' THAT IT IS UNDERWAY #ecb #europeancentralbank #interestrates #inflation #eurozone #monetarypolicy #christinelagarde post: <EUR=>:*LAGARDE: SPEED, TIMING WILL BE DETERMINED BY DATA ?*LAGARDE: NEXT FEW MONTHS WILL BE BUMPY
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video Natural gas breaks up and out of a bull pennant pattern today with a rally above Tuesday’s 2.83 high. Resistance was seen near the top trendline with a high of 2.88 at the time of this writing. Today was the second test of resistance at the trendline. Natural gas is on track to close weak however, in the bottom half of the day’s range. This would ...
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The trend of bearish U.S. economic data came to a halt yesterday with the ISM Services PMI reaching 9-month high, exceeding expectations. This week's bearish economic data reflected concerns over the U.S. economy's demand potential, which weighed on commodity prices. The highest volatility of the week is expected with the release of non-farm payrolls on ...
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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% ...