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Power & Energy Commodity News

JPMorgan in talks over power price claims

Source: Financial Times, 18th July 2013

JPMorgan Chase is in talks to settle allegations it manipulated electricity market prices, in a deal that could cost the bank several hundred million dollars in a payment to the Federal Energy Regulatory Commission, according to people familiar with the matter.

Part of the enforcement action was to involve JPMorgan traders being banned from commodity markets, according to a person familiar with the situation

Read the full article on FT.com

US refiners process most crude since 2005

Source: Financial Times, 17th July 2013

Weekly crude oil statistics released on Wednesday reflected the impact of increasing availability of cheap domestic crude as well as rising demand for oil products, such as diesel, from Europe and Latin America

Read the full article on FT.com

Barclays fined for fixing US power prices

Source: Financial Times, 17th July 2013

Ferc’s fines matched the amount proposed last year when it accused four former Barclays traders of pushing around physical power prices in California

Read the full article on FT.com

Record fine for Barclays over power prices

Source: Financial Times, 16th July 2013

Ferc’s fines matched the amount proposed last year when it accused four former Barclays traders of pushing around physical power prices in California

Read the full article on FT.com

US ethanol credits soar to fresh high

Source: Financial Times, 15th July 2013

The small, illiquid market has surged more than 2,300 per cent this year as petrol refiners and importers fear scarce future stocks of the credits

Read the full article on FT.com

NWR considers closing Paskov mine

Source: Financial Times, 15th July 2013

Review of the mine’s future follows losses that prompted NWR to initiate £100m of cost-cutting measures, highlighting pressure on coal producers from falling prices

Read the full article on FT.com

BP says US law firms reaping a ‘bonanza’

Source: Financial Times, 14th July 2013

‘Outrageous results’ are evidence that a misinterpretation of the settlement was opening the door to ‘absurd’ awards, oil company says

Read the full article on FT.com

Repsol gains Spanish court case over YPF

Source: Financial Times, 11th July 2013

Oil group hails ruling allowing a Madrid judgment, as it continues its fight against Argentina and those it claims benefited from subsidiary’s seizure

Read the full article on FT.com

Shrinking oil spreads shake crude trade

Source: Financial Times, 11th July 2013

Traders ask whether this week’s fall in the spread to below $2 a barrel means the prices of Brent and West Texas Intermediate will revert to parity

Read the full article on FT.com

US shale output erodes Opec’s market share

Source: Financial Times, 11th July 2013

Non-Opec oil supply growth to accelerate next year to 1.3m barrels a day, with the US accounting for the vast majority of growth, says IEA

Read the full article on FT.com