David's Feed
Oct 30, 2012

ConEd cuts power to part of Lower Manhattan due to Sandy

NEW YORK (Reuters) – New York power company Consolidated Edison Inc ED.N said on Monday that it had shut off power to part of Lower Manhattan to protect electrical equipment and to allow for quicker restoration after Hurricane Sandy passes.

The company said in a release it cut service to two areas. The first is bounded by Frankfort Street to the north; William Street to the west; Wall Street to the south; and the East River. The second area is bounded by Broadway to the west; Wall Street to the north; and the southern tip of Manhattan.

Oct 29, 2012

ConEd warns lower Manhattan customers of possible power outages

NEW YORK Oct 29 (Reuters) – Consolidated Edison Inc,
the New York City power provider, warned customers in lower
Manhattan it may shut down power on Monday evening as Hurricane
Sandy barrels toward the East Coast.

Blackouts could affect streets as far north as 36th Street,
the company said in a release, though would likely be limited to
those avenues closest to the East and Hudson rivers. The central
avenues are not expected to be affected.

Oct 29, 2012

ConEd warns lower Manhattan customers of possible power outages tonight

NEW YORK (Reuters) – Consolidated Edison Inc, the New York City power provider, warned customers in lower Manhattan it may shut down power on Monday evening as Hurricane Sandy barrels toward the East Coast.

Blackouts could affect streets as far north as 34th Street, in line with the Empire State building, a Con Edison spokesman said, though would likely be limited to those avenues closest to the East and Hudson rivers. The central avenues are not expected to be affected.

Oct 24, 2012

Analysis: Canada’s tough stance on foreign buyers won’t cut oil growth

NEW YORK (Reuters) – In other energy-rich countries, a decision to knock back a major foreign investment would likely provoke cries of resource nationalism and raise questions about prospects for oil and gas production growth.

Canada’s surprise move last week to block Malaysian state-run oil firm Petronas’ $5.2 billion bid for Calgary-based Progress Energy has spooked some investors, and raised concerns that Chinese state firm CNOOC’s $15.2 billion bid for Calgary-based Nexen may also be rejected.

Oct 23, 2012

Noble oil desk says goodbye to Refvik, the ‘King of NY Harbor’

NEW YORK Oct 23 (Reuters) – Commodity trading house Noble’s
global head of oil trading Olav Refvik, dubbed the “King of New
York Harbor” for his skill in playing the U.S. fuel market, has
stepped aside from his role, industry sources said on Tuesday.

Refvik, who joined Noble Americas two years ago after nearly
two decades at Morgan Stanley, will retain an advisory
role at the Connecticut-based commodities trading arm of the
Hong Kong group, according to industry website SparkSpread,
which first reported the news on Tuesday.

Oct 17, 2012

US East Coast distillate imports at record low, winter looms

NEW YORK, Oct 17 (Reuters) – Imports of diesel and heating
oil into the East Coast of the United States have fallen to the
lowest level since records began eight years ago, prompting
concerns about the state of fuel supplies ahead of the coldest
winter months.

Figures from the U.S. Energy Information Administration on
Wednesday showed distillate imports averaged 49,000 barrels per
day over the past four weeks, well below the norm for the time
of year.

Oct 11, 2012

BP to export US crude to Canada, Shell seeks permit

NEW YORK/HOUSTON (Reuters) – Oil major BP Plc has secured U.S. government permission to ship U.S. crude oil to Canada, and Royal Dutch Shell has applied for an export license, as rising production in the world’s top oil consumer upends global energy flows.

A surge in output from shale oil reserves in the Bakken of North Dakota and Eagle Ford of Texas has raised U.S. domestic production to the highest level since 1995, light, sweet crude that could fetch better prices on international markets. The United States still imports more than 8 million barrels per day, making it the world’s biggest importer.

Oct 10, 2012

Analysis: After California pump price spike, NY heating oil could be next

NEW YORK (Reuters) – Fuel price shocks that had Californians gasping at record high pump prices over $5 a gallon may next hit heating oil users in New York, where depleted supplies and new green regulations could push bills up sharply this winter.

New state environmental regulations require heating oil users in New York to fill the furnaces with the same diesel used by trucks and other motor vehicles.

Oct 3, 2012

Iowa court accepts Wasendorf’s guilty plea

By David Sheppard

(Reuters) – A Federal court in Iowa on Wednesday formally accepted the guilty plea of Russell Wasendorf Sr., the chief executive of brokerage Peregrine Financial Group charged with bilking customers of more than $100 million in a 20-year fraud.

Chief judge Linda Reade accepted the guilty plea to four charges including lying to regulators, embezzlement and mail fraud, according to court papers. Wasendorf entered the plea in Cedar Rapids, Iowa last month.

Sep 19, 2012

One big order, thousands of small ones, seen behind oil drop

NEW YORK, Sept 18 (Reuters) – A single large sell order in
the benchmark European Brent oil market, followed by an abrupt
U-turn among high-frequency traders, may have caused one of the
most abrupt price routs ever, brokers and analysts said on
Tuesday.

As the dust settled on Monday’s four-minute, nearly $4
plunge, other possible causes such as an erroneous “fat finger”
trade, a computer program run amok or a broad, rumor-driven
sell-off were set aside in favor of a combination of one big
trade – potentially as much as 12 million barrels worth some
$1.4 billion – and tens of thousands of computerized orders.