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...Gas and power trading has overtaken oil as the biggest source of profits in the sector, contributing almost half of the industry’s gross earnings in 2022, according to Oliver Wyman....
...For some products, such as vacuum gas oil (VGO) — a partially refined product used to make transportation fuels including petrol or diesel — the flow from Russia to Europe via Dörtyol appears even clearer...
...in trading Russian oil....
...Other lower-carbon energy products, such as hydrogen and biofuels, depend on gas or power or other commodities for their production or transportation creating new cross-commodity opportunities for trading...
...Iceland plans to put the new funding towards decarbonising sectors of its economy which still rely on fossil fuels, including transportation and the chemicals sector....
...“He really led Shell’s work during his tenure as CEO on transitioning it across oil and gas, renewables, sustainable aviation and transportation.”...
...Oil prices jumped as news of the strikes emerged but have since eased and are now back to below levels from the start of the week as traders bet that diplomatic efforts to prevent an escalation of tensions...
...Worse, banks have cut specialised loans to oil and gas companies as a direct result of the tax....
...The agency said Medivation had been defrauded by Panuwat’s actions and that overall confidence in the market had been undermined. The US does not have a specific insider trading prohibition....
...They also voiced concern elevated price pressures “continued to harm households, especially those least able to meet the higher costs of essentials like food, housing and transportation”....
...Oil is currently below the level before last week’s drone and missile attack on the Jewish state by Tehran. Read more here...
...“We are coming into the prime season for demand and Opec is doing a great job, holding back just enough oil to keep this market tight....
...Contracts tracking the benchmark S&P 500 and the tech-heavy Nasdaq Composite were up 0.3 per cent ahead of the New York trading session....
...Sentiment was buoyed by Brent crude, the international oil benchmark, trading 1.4 per cent higher to $86.60, and Morgan Stanley upgrading its view on the sector to “overweight”....
...It said China’s oil demand had normalised, after a post-Covid spurt, and that a mild winter had moderated demand....
...Futures for Brent crude, the international oil benchmark, rose as much as 4.2 per cent to $90.75 per barrel....
...Oil trading represents about 30 per cent of total revenues. Alongside gas and power trading, the group is investing in green technologies such as battery storage and biogas....
...The husband of a BP employee has pleaded guilty to insider trading for illegal share purchases he made after overhearing his wife talking about a deal while working from home....
...Oil is currently below the level seen before last week’s drone and missile attack on the Jewish state by Tehran....
...Citadel was last year named the most successful hedge fund of all time and has made large profits trading commodities....
...But sharp falls in natural gas prices and reduced oil refinery margins dented their earnings in the first three months of the year, causing both companies’ shares to dip in early trading....
...A former Bain consultant and aerospace executive, Germain set up GHGSat in 2011 after Quebec and California announced they would combine their emissions-trading networks to create the largest such market...
...The revision comes after the company pledged to devote a higher proportion of spending to oil and gas last year, and other oil groups such as BP have slowed their retreat from oil....
...Switzerland-based Mercuria, founded in 2004 by Marco Dunand and Daniel Jaeggi, was predominantly an oil trader but bolstered its power trading operations in 2014 through the acquisition of part of JPMorgan...
...’s largest commodity trading houses....
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