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Goldman poised to make US$200 million profit off Texas deep freeze: Bloomberg News

Traders at Goldman Sachs Group Inc are set to bring in significant profits from the freeze that led to a major blackout across U.S. states last month, Bloomberg News reported on Friday.

FILE PHOTO: The Goldman Sachs company logo is seen in the company's space on the floor of the
FILE PHOTO: The Goldman Sachs company logo is seen in the company's space on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., April 17, 2018. REUTERS/Brendan McDermid

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REUTERS: Traders at Goldman Sachs Group Inc are set to bring in significant profits from the freeze that led to a major blackout across U.S. states last month, Bloomberg News reported on Friday.

The Wall Street investment bank could possibly make about US$200 million, at least on paper, from the physical sale of power and natural gas and from financial hedges after spot prices jumped, the report said, citing people familiar with the matter.

Goldman did not immediately respond to a Reuters request for comment.

(Reporting by Sohini Podder in Bengaluru; Editing by Shailesh Kuber)

Source: Reuters