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Texas Blackout Boosts Australian Bank by Up to $215 Million – The Wall Street Journal

Macquarie earned a windfall when the deep freeze in Texas sent energy markets into a tailspin

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The deep freeze that plunged millions of Texans into darkness last week produced a windfall of up to $215 million for
Macquarie Group Ltd.
MQBKY 4.29%
, an Australian investment bank that is active in U.S. power and gas markets.The extreme weather froze wind turbines and oil-and-gas wells, closed oil refiners and prompted power stations to trip offline, sending a jolt through energy markets. Wholesale power prices rocketed, as did spot prices for natural gas in Texas, Oklahoma, Kansas and Arkansas.The…

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