Energy

EU split on Russian oil price cap level, talks to resume Thursday

BRSELS, Nov 23 (Reuters) – European UnionUS failed to reach a deal on Wednesday at what level to cap prices for Russian sea-borne oil under the Group of Seven nations (G7) scheme and will resume talks on Thursday evening or on Friday , EU diplomats said. Earlier on Thursday of the EU’s 27 met in …

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DCG’s Barry Silbert writes letter to investors after FTX collapse

Barry Silbert, the founder of crypto conglomerate Digital Currency Group, has joined a growing list of industry leaders in trying to settle investors’ nerves after the sudden collapse of FTX. In a note to shareholders on Tuesday, Silbert addressed all the “noise” about the financial health of DCG’s subsidiaries, which includes trading firm Genesis, Grayscale …

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Oil slides over 3% on Russian price cap talks, US gasoline build

EIA US gasoline stocks data shows higher-than-expected build G7 price cap on Russian oil could be above current trading level Chinese demand concerns weigh as COVID-19 cases surge Majority of Fed officials see rate hikes slowing soon HOUSTON, Nov 23 (Reuters) – Oil prices fell more than 3% on Wednesday, continuing a streak of volatile …

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Here’s the apology letter Sam Bankman-Fried sent to FTX employees

Sam Bankman-Fried, co-founder and CEO of FTX, in Hong Kong, China, on Tuesday, May 11, 2021. Lam Yik | Bloomberg | Getty Images FTX’s ex-CEO Sam Bankman-Fried blamed his “irrational decisions” on “sh—y” circumstances in a letter obtained by CNBC that was sent to employees of the bankrupt crypto exchange. Bankman-Fried said he “froze up …

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New York governor signs law cracking down on bitcoin mining

These machines, known as mining rigs, work round the clock to find new units of cryptocurrency. Benjamin Hall | CNBC New York Gov. Kathy Hochul signed a law Tuesday banning certain bitcoin mining operations that run on carbon-based power sources. For the next two years, unless a proof-of-work mining company uses 100% renewable energy, it …

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Europe’s gas price cap leaves some nations dismayed

Commissioner for energy Kadri Simson is talking to media. EU countries are debating new steps to deal with the energy crisis. Thierry Monasse | Getty Images News | Getty Images Several EU member states are not happy with the bloc’s proposed cap on natural gas prices — at 275 euros per megawatt hour — which …

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Oil rises 1% as OPEC+ focus on supply cuts outweighs recession concerns

EU softens Russian oil price-cap plan -Bloomberg Saudi Arabia, other OPEC producers deny output hike talks Beijing shuts parks and museums as China’s COVID cases rise Coming up: API supply report at 4:30 pm EST (2130 GMT) NEW YORK, Nov 22 (Reuters) – Oil prices rose about 1% on Tuesday after top exporter Saudi Arabia …

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The best-performing sector in 2022 is not finished crushing it, says Citi, offering three stocks to buy

You can count on it, says our call of the day Provided by Citigroup, though they say investors can’t expect as lofty returns. “We see market rotation into energy equities as having further to run, even though names in our US coverage already sit at all-time highs,” a team of analysts led by Alastair R …

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China signs 27-year gas deal with QatarEnergy to secure supply | Business and Economy News

QatarEnergy has signed a 27-year deal to supply China’s Sinopec with liquefied natural gas (LNG) in the longest such agreement to date, as volatility drives buyers to seek long-term supplies. Since Russia’s invasion of Ukraine in February, competition for LNG has become intense, with Europe, in particular, needing vast amounts to help replace Russian pipeline …

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Biden grants PG&E $1.1 billion to keep Diablo Canyon nuclear plant open

Aerial view of the Diablo Canyon, the only operational nuclear plant left in California, due to be shutdown in 2024 despite safely producing nearly 15% of the state’s green electrical energy power, is viewed in these aerial photos taken on December 1, 2021, near Avila Beach, California. George Rose | Getty Images The Biden administration …

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