Commodities

High Energy Prices Said Sustaining Russia’s Invasion of Ukraine

High Energy Prices Said Sustaining Russia’s Invasion of Ukraine

As European natural gas prices rise yet again, data suggest Russia’s gains from global energy market volatility are blunting the impact of sanctions on its exports. In a study from the Centre for Research on Energy and Clean Air (CREA), an international research group based in Finland, researchers concluded record-high energy prices are helping Russia…

June 17, 2022
ExxonMobil, Chevron Investors Green Light Some Improved Climate Disclosures

ExxonMobil, Chevron Investors Green Light Some Improved Climate Disclosures

Shareholders made demands mostly around reducing carbon emissions, but the fireworks that lit up annual meetings last year were missing for ExxonMobil and Chevron Corp.  Investors overall stuck with board recommendations at the two events in late May. However, there was more support for increased climate disclosures. At the ExxonMobil annual meeting last week, 52%…

June 3, 2022
With U.S. Output Flat and War in Ukraine Stoking Fresh Global Supply Worries, Oil Prices Surge

With U.S. Output Flat and War in Ukraine Stoking Fresh Global Supply Worries, Oil Prices Surge

U.S. crude production was flat last week, as it has been throughout 2022, even as the Russia-Ukraine conflict drags on and global supply worries intensify. Output for the week ended March 18 held at 11.6 million b/d, even with the prior week and a month earlier, the U.S. Energy Information Administration (EIA) said Wednesday. American…

March 23, 2022
Continental Execs Tout Multi-Basin Approach, Production Restraint Amid High Oil and Gas Prices

Continental Execs Tout Multi-Basin Approach, Production Restraint Amid High Oil and Gas Prices

Continental Resources Inc.’s recent expansions into the Powder River and Permian basins have given it the inventory and optionality needed to capitalize on strong oil and natural gas prices, management said.  In a conference call to discuss fourth quarter and full-year 2021 earnings, CEO Bill Berry said that “as an unhedged oil producer, we were…

February 18, 2022
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
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