Energy Sector

SunEdison Confirms Inquiry by SEC

SunEdison Confirms Inquiry by SEC

Maryland Heights, Missouri based SunEdison Inc. said the U. S. Justice Department is investigating issues which include financing activities connected to a canceled acquisition and also confirmed that the company received an inquiry from the SEC (Securities and Exchange Commission).

On Monday, reports surfaced that the SEC is examining the company's disclosure to investors regarding the amount of cash the solar company had in hand when there was a collapse in its stock prices last year.

Asian Oil Market Find Middle East Oil more Attractive for Many Reasons

Asian Oil Market Find Middle East Oil more Attractive for Many Reasons

Asia is one of the biggest oil markets and their addiction to Middle East supplies never seem to seize. These are not without some good reasons including the lower prices and the shorter amount of delivery time.

Rising Stockpile Worries make Oil Prices Retreat

Rising Stockpile Worries make Oil Prices Retreat

On Thursday, oil prices extended its losses following a U. S. supply data that revealed increasing stockpiles and obstinately high rate of production. That made oil prices retreat farther away from the $40 per barrel range and strike the view of bullish investors who were hoping for a reversal to start in the crude oversupply worrying the world.

U.S Benchmark Crude Futures Rise

U.S Benchmark Crude Futures Rise

On Tuesday, oil prices rallied in early Asian trade. That added to the gains from the earlier session as data revealed that U.S. crude stockpiles dropped for the first time since January. The commodity prices also strengthened in a boarder sense.

At 0026 GMT, the May U.S. crude futures were up 10 cents at $41.62 per barrel. Earlier the April delivery gained 47 cents or 1.2 percent and settled at $39.91 before it expired on Monday. On Monday, the May contract finished 38 cents up at $41.52.

US Oil Rig Count Climbed this Week with Crude Prices Dropping From Its 2016 Highs

US Oil Rig Count Climbed this Week with Crude Prices Dropping From Its 2016 High

Supply glut concerns are back as the U. S rig counts were on their way up for the very first time since December. On Friday, the crude oil prices settled lower stealing the gains that were seen following a proposal to freeze the output which helped the market to climb to its 2016 highs.

Energy Transfer Equity Denies Intention of Selling Controlling Interest in Sunoco

Energy Transfer Equity Denies Intention of Selling Controlling Interest in Sunoc

Energy Transfer Equity denied report that said it was holding talks with potential buyers to sell its controlling interest in Sunoco LP. The company said it has received many queries from likely buyers since in 2012, the time it acquired the gas station and convenience store operator.

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