US Treasury Secretary Steve Mnuchin: Trump Administration Considering Taking Stakes in Energy Companies

Earlier today Steve Mnuchin, Secretary of the US Treasury Dept, stated “It can be assumed that the Trump administration is looking at the US government taking stakes in energy companies as one option. The administration is looking at several options to help the oil and gas industry.” 

More than 2.4 million barrels of crude is to be delivered to Cushing next month in fulfilment of WTI Contracts, exchange operator CME Group disclosed on Wednesday.

Mercifully, the week came to a close for crude oil, which saw value drop more than 7 percent.  Heating oil prices experienced a steeper decline, falling over 32 percent to 64.67 cents per gallon.  Heating oil futures are down more than 68 percent relative to a year ago.  Soybean oil futures dropped nearly five percent, closing the week at 25.05 cents per pound and…