Wednesday, June 18, 2025
Fed's Bullard Says Rate Cut May Be Needed ‘Soon’ - Oil & Gas 360

Fed’s Bullard Says Rate Cut May Be Needed ‘Soon’

From Bloomberg St. Louis Fed chief says trade war poses risk to U.S. economy, Bullard says yield curve may signal Fed policy is too tight The Federal Reserve may need to cut interest rates soon to prop up inflation and counter downside economic risks from an escalating trade war, St. Louis Fed President James Bullard said. “A downward policy rate

Citgo Gets U.S. Subpoena Related to Venezuela Bribery Probe - Oil & Gas 360

Citgo Gets U.S. Subpoena Related to Venezuela Bribery Probe

From Bloomberg American unit of PDVSA has pledged full cooperation with probe, Businessman last week admitted to bribery for contracts Citgo Petroleum Corp. received a subpoena from the Department of Justice stemming from an investigation into bribery in Venezuela, indicating that the U.S. government is finally turning its attention to the company after years of prosecuting individuals. The subpoena was handed

Glencore’s Executive Departures Hasten as Oil Chief Leaves - Oil & Gas 360

Glencore’s Executive Departures Hasten as Oil Chief Leaves

From Bloomberg Alex Beard will retire as oil chief at the end of June, has held that job since 2007 and led Glencore through its IPO The generational change at the top of Glencore Plc gained speed on Monday, after the company announced the retirement of its long standing head of oil Alex Beard. Beard, 51, was at one time

Oil prices fall on fading storm impact, Chinese economic data - Oil&Gas360

Oil Teeters on Edge of Bear Market

From Bloomberg Supply and demand both falling quickly, says BofA’s Blanch, Energy investors beat sector ‘to death’: RBC Capital Markets Oil flirted with bear-market territory as Saudi Arabia insisted OPEC will avert a global supply glut after international trade brinkmanship triggered the steepest monthly slump this year. Futures gained as much as 2.1% in New York on Monday before surrendering