The Consequences Of Rising Inflation & Crude Oil Prices
The Commodity Futures Trading Commission (CFTC) recently issued an interim report by CFTC Staff on the April 2020 price collapse of the West Texas Intermediate light sweet crude oil futures contract (WTI Futures Contract)....more
The U.S. Energy Information Administration (“EIA”) released its Short-Term Energy Outlook (“STEO”) on May 12, 2020, but noted that it was subject to “heightened levels of uncertainty because the effects on energy markets of...more
On April 20, 2020, U.S. benchmark crude traded negative for the first time. This drastic drop in price was caused by the perfect storm of the Saudi Arabia-Russia price war and the novel Coronavirus...more
PE firm Sycamore Partners, which “agreed to buy a majority of Victoria’s Secret from its embattled owner, L Brands, in February,” is looking to back out of the deal “because of the retail chain’s response to the coronavirus...more
U.S. Banks Prepare to Seize Energy Assets as Shale Boom Goes Bust - "Major U.S. lenders are preparing to become operators of oil and gas fields across the country for the first time in a generation to avoid losses on loans...more
Oilfield services companies, like many others in the energy industry, are feeling the pain of low oil prices and reduced capital spending by upstream companies brought on by the global COVID-19 pandemic, which is reducing...more
As the COVID-19 crisis and its economic fallout intensify, contractual parties have increasingly invoked force majeure provisions to excuse performance of contracts. This article is a follow up to Schiffer Hicks Johnson’s...more
Wells Fargo & Co. agreed to pay a total of $3 billion to resolve criminal and civil investigations by the DOJ and SEC. Wells Fargo admitted “that it took millions in wrongful fees and interest, misused customer information...more