Commodities

Supercycle Underway for Natural Gas, Oil Markets, Says Schlumberger CEO

Supercycle Underway for Natural Gas, Oil Markets, Says Schlumberger CEO

A steady recovery in global energy demand, combined with tighter natural gas and oil supplies,  are creating favorable conditions for activity in the year ahead, Schlumberger Ltd. CEO Olivier Le Peuch said Friday. The largest oilfield services (OFS) company in the world unveiled its strong fourth quarter results, with Le Peuch detailing the outlook and…

January 21, 2022
Oil, Natural Gas Prices Drive Sustained Surge in Inflation

Oil, Natural Gas Prices Drive Sustained Surge in Inflation

Lofty oil and natural gas prices played outsized roles in fueling spikes in inflation this year. November proved no exception, with price increases reaching a pace last recorded nearly four decades ago. The U.S. Bureau of Labor Statistics (BLS) said Friday the consumer price index surged 6.8% in November from the same month a year…

December 10, 2021
Suncor Sees Oil Prices Jump Sharply, Commits 10% of Capital to GHG Initiatives

Suncor Sees Oil Prices Jump Sharply, Commits 10% of Capital to GHG Initiatives

Calgary-based Suncor Energy Inc. saw its earnings jump in the first half of the year, as oil demand rose and the pandemic receded, resulting in the North American retail unit standing out as the growth star. Maintenance turnaround projects, which limited production and sales by the refineries and oilsands operations during 2020 and early this…

July 30, 2021
U.S. Coal Market Fundamentals Said ‘Extremely Strong’ as Natural Gas Prices Soar

U.S. Coal Market Fundamentals Said ‘Extremely Strong’ as Natural Gas Prices Soar

The coal market is witnessing a resurgence in the United States as natural gas prices skyrocket and utilities turn to coal-powered generation, according to Alliance Resource Partners LP (ARLP) CEO Joseph Craft. “Commodity prices for each of our business segments have skyrocketed to levels not experienced in several years,” Craft said as second quarter earnings…

July 28, 2021
Trading Giant Vitol Agrees to Settle Latin American Bribery Case

Trading Giant Vitol Agrees to Settle Latin American Bribery Case

The U.S. affiliate of Swiss commodities giant Vitol Inc. has admitted to bribing Brazilian, Ecuadorian and Mexican officials over the course of more than a decade in exchange for illicit competitive advantages. Vitol agreed to pay $135 million to resolve the U.S. Department of Justice’s investigation into the schemes to pay off government officials in…

December 10, 2020

Federal Reserve Proposes Tougher Commodities Limits on Banks

The Federal Reserve Board (FRB) issued a proposed rule calling for tougher limits on the physical commodity activities of financial holding companies (FHCs), citing the risks of such investments in the event of an environmental catastrophe.

September 26, 2016

LNG HHP Applications Struggling with Low Commodity Prices

A niche exists in the portable oilfield and remote power generation sector, but liquefied natural gas (LNG) in these high-horsepower (HHP) applications is struggling to compete with diesel because low commodity prices have narrowed the gap for the two alternatives, a Prometheus Energy executive said Tuesday.

May 25, 2016

Deutsche Bank Reportedly Selling North American NatGas Trading Book

Deutsche Bank has sold its natural gas trading book to Morgan Stanley, a source familiar with the deal confirmed to NGI.

August 21, 2014

Federal Reserve Pursues Question of Banks in Commodity Markets

Citing disasters involving commodities, from the Macondo oil spill in the Gulf of Mexico to recent crude oil tanker train crashes to the Three Mile Island nuclear leak in 1979, the Federal Reserve Board on Tuesday said it was re-examining the risk involved in the physical commodity activity of financial holding companies (FHC). The banking agency issued an advance notice of proposed rulemaking seeking comment on how to limit risk.

January 14, 2014

Energy Firms to Fed: Don’t Exclude Banks from Commodities Markets

“If counterparties, such as banks…begin to disappear, our ability to manage our risk would be seriously impeded,” energy companies told Federal Reserve Chairman Ben Bernanke.

October 7, 2013
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