In less than a decade, Marco Dunand and Daniel Jaeggi have turned a 10-person company supplying oil to a pair of Polish refineries into the world’s fourth-largest commodity trader with revenue topping $100 billion last year.
A disruption of natural gas supplies to Europe by an escalation of Russia’s military action in Ukraine may boost LNG demand and prices in Asia and South America, according to Societe Generale SA and Morgan Stanley.
The U.S. and European Union put Russian President Vladimir Putin on notice that they will be united on imposing sanctions if he’s unwilling to defuse the Ukraine crisis and pursue a negotiated solution.
China’s leaders want to lift the gray blanket of deadly smog that often chokes Beijing’s residents by shifting power plants to the less populated western part of the country inhabited by minorities. That’s turning into a nightmare for Ani Yetahon who lives in Oriliq, a village about 1,800 miles from the capital where some residents still walk to the well for their water.
Timothy Massad, the Treasury Department official named to head the U.S. Commodity Futures Trading Commission, said he would work to approve speculation limits in oil, natural gas and other commodities that have been resisted by banks and parts of the energy industry.
Texas power users face potential outages and price volatility as the state’s main grid operator tries to keep up with population and demand growth, an Electric Reliability Council of Texas Inc. official said today.