Tuesday, April 23, 2019

Connecticut News

Oil Drops 3 pct, U.S. Supply Surges

© TTstudio / Adobe Stock

Oil prices fell about 3 percent on Friday and were set for a second straight week of declines after disappointing U.S. job growth revived concerns about a slowing global…

Ørsted Tapped for Connecticut Offshore Wind Farm

© Dawid S Swierczek / Adobe Stock

Denmark based Ørsted has been selected by Connecticut’s Department of Energy and Environmental Protection to move forward to negotiate a fixed-price power purchase agreement…

U.S. Crude Stockpiles Build for 10th Straight Week - EIA

© Kalyakan / Adobe Stock

U.S. crude oil stockpiles rose for a 10th week in a row last week even as refineries boosted output and exports increased, the Energy Information Administration said…

COWI Expands in US Offshore Wind Energy

Image: COWI

In a major developement, international consulting group COWI announced it plan to increase its presence in the USA significantly with the consultancy contract with Vineyard…

Orsted Lifts 2018 Outlook

(Photo: Orsted)

Danish energy group Orsted posted third-quarter profit well above analyst expectations on Thursday and lifted its outlook for the year, in part thanks to the contribution…

Orsted Expands US Business with $510 Mln Acquisition

(Photo: Orsted)

Orsted, the world's largest offshore wind developer, said on Monday it would buy U.S.-based Deepwater Wind LLC for $510 million as part of its strategy to expand in…

Oil Stabilizes, Supported by Bullish U.S. Inventory Data

© tomas / Adobe Stock

Oil prices steadied on Thursday, supported by a bullish U.S. inventory report from the previous session even as an escalating trade dispute between the United States…

Gunvor Opening London Trading Office, Closes Bahamas

file Image: CREDIT Adobestock © Kasto

Global energy trader Gunvor Group is opening its first London office while also closing its trading desk in the Bahamas to increase efficiency in North America, sources…

Quadrise Fuels Signs MoU with Freepoint Commodities

Image: Quadrise Fuels International plc

Fuel oil technology firm Quadrise Fuels International said it had signed a non-binding memorandum of understanding with commodities trader Freepoint Commodities to provide…

Oil Rises on U.S.-Iran Tension

© Ian Holland / Adobe Stock

Oil prices rose on Monday on worries over supply after tensions worsened between Iran and the United States, while some offshore workers began a 24-hour strike on three…

EPA Announces Funding to Reduce Diesel Emissions

File Image (CREDIT: AdobeStock / © dbvirago)

Preference given to fleets in areas facing air quality challenges. The U.S. Environmental Protection Agency (EPA) announced the availability of grant funding to modernize…

Oil Falls From 2015 Highs as Rally Fizzles

File Image (CREDIT: AdobeStock / (c) scanrail)

Oil prices dipped on Wednesday after hitting a near two-and-a-half year high in the previous session as a rally fuelled by supply outages in Libya and the North Sea ran out of momentum.

Oil Dives 4 pct on Stubborn Glut

File Image: a typical land-based shale rig. (CREDIT: AdobeStock)

Lowest prices since Nov. 30; OPEC downplays chance of bigger output cuts. Oil slid more than 4 percent on Thursday, to its lowest since late November as investor worries…

TrailStone buys Cargill's power, gas group

Commodities trader and investor TrailStone Group has purchased Cargill Inc's gas and power trading group, three sources familiar with the deal said this week. The move…

Oil Hits Highest Benchmark Since mid-2015

OPEC, non-OPEC producers agree broad output cut from 2017. Oil rose to an 18-month high on Monday after OPEC and some of its rivals reached their first deal since 2001…

Andy Hall: Accept it, OPEC 'back in business'

OPEC is back in charge of determining oil prices as Saudi Arabia works with Russia and archrival Iran to achieve output cuts, and only "a brave person" bets against this combination…

U.S. States Sought to Keep Exxon Climate Probe Secret

A pact that 15 U.S. states signed to jointly investigate Exxon Mobil Corp for allegedly misleading the public about climate change sought to keep prosecutors' deliberations…

Refined Product Glut adds to Crude Gloom

A glut of refined products has worsened the already-grim outlook for U.S. crude oil for the rest of the year and the first half of 2017, traders warned this week, as…

Oil Funds Hold down Risk, Eye Volatility After Weak First Half

Oil's big rebound in the first half of the year was a squandered opportunity for most hedge funds with positions in crude, and a surge in volatility is likely to make…

Cruel Summer for US Refiners as Margins Tank

Summer driving season is in full swing and American motorists are filling their tanks at a healthy clip, but that is not swelling the profit margins as much as usual at U.S.