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VEGOILS - Palm flattens as El Nino worries counter rising stock levels. Still poised for a second weekly gain
Malaysian palm futures traded at a?tight range on Friday as concerns about El Nino and the impact of higher inventories on production were offset by concerns over a firmer crude oil price. By midday, the benchmark palm oil contract for October delivery at the Bursa Derivatives Exchange had risen 3 ringgit or 0.06% to 4,727 Ringgit ($1,158.01).
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Palm closes down but gains second week despite lower closing.
Malaysian palm futures fell on Friday as higher inventories put pressure on the market. However, it still recorded a second consecutive week of gains. The benchmark palm?contract for?October delivery?on the Bursa Malaysia derivatives Exchange?was down 13 ringgit or 0.28% at $4,711 ringgit (1,153.53) per metric ton by the close.
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Shell's Wild Coast exploration plan is blocked by South Africa's highest court
South 'Africa's Constitutional Court blocked Shell's offshore exploration along the 'country's' pristine Wild Coast on Friday, a'setback' for the oil giant after years of legal challenges from local communities and environmentalists. This ruling is just the latest in a long line of…
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Equinor Buys $940m Stake in Gas-Fired Power Plant
Norwegian energy group Equinor said on Monday it has agreed to buy a stake in a gas-fired power plant in the U.S. state of Pennsylvania, seeking to benefit from rapidly growing electricity demand from data centres and other industry.Equinor will pay $940 million, subject to final adjustment…
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Brazil's Petrobras finds hydrocarbons in Foz do Amazonas basin
Petrobras, Brazil's state-run oil firm, announced on Friday that it had found hydrocarbons in an exploratory well located off the coast of the Atlantic Ocean near the Foz do Amazonas Basin. In a filing with the Securities and Exchange Commission, the company said that drilling operations are still underway in this environmentally sensitive area.
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India opens its nuclear sector to proven technology from abroad
India proposed on Friday a 'tightly supervised approval regime' for private nuclear energy generation. This would open the…
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Baker Hughes reports that the US oil and gas rig counts have reached their highest level since March 2025.
Baker Hughes, a renowned energy services firm, said that U.S. firms added rigs this week for the second time within three weeks.
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The weekend reads: Fed rethinking, EV race and yen rescue
Want to be inspired? Every Friday, Weekend Reads highlights what the Open Interest team has been watching, listening to, and reading.
Latest news
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BP awarded license for Venezuela Loran gas fields in partnership with XRG and UCC
BP has, in partnership with United Arab Emirates firm XRG, and a unit from Qatar's conglomerate UCC Holding secured a licence…
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Urenco CEO: EU's unclear position on Russian nuclear fuel is holding back investment
Urenco CEO says that uncertainty over the European Union's decision to ban Russian nuclear fuel has slowed investment in…
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SMA Solar: EU restrictions on Chinese solar inverters will boost European suppliers
The European Union's ban on public funding for utility-scale inverters made by "high-risk countries" is set to shift the…
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Governor says drone attacks cause fires at the Russian energy export port Ust-Luga
On Friday, firefighter battled a blaze at Russia's Baltic Sea port Ust-Luga - a major hub for energy exports - after a fire…
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Australia commits $1.76 billion to keep Rio Tinto aluminium smelter open
Australia announced on Thursday that it would be providing A$2.5 billion (1.76 billion dollars) to help Rio Tinto keep its?Tomago…
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US offers 81 million acres of Gulf of Mexico oil leases
The Trump Administration will on Wednesday offer oil and gas drilling companies more than 81 million acres (32,8 million hectares)…
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Bank of America pledges 250 billion dollars for US infrastructure financing
Bank of America said Wednesday that it will 'deploy $250 billion by July 2027 for U.S. infrastructure and digital projects.
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Hormuz shipping falls to a one-week low amid hostilities
Shipping 'data' showed that the number of vessels in the Strait of Hormuz fell to an all-time low of eight on Tuesday as…
Shale Oil & Gas
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US offers 81 million acres of Gulf of Mexico oil leases
The Trump Administration will on Wednesday offer oil and gas drilling companies more than 81 million acres (32,8 million hectares)…
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Bank of America pledges 250 billion dollars for US infrastructure financing
Bank of America said Wednesday that it will 'deploy $250 billion by July 2027 for U.S. infrastructure and digital projects.
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Document shows that Vietnam is considering a second LNG contract term after the Shell deal
According to a document that was reviewed by us, the state-controlled Petrovietnam Gas has begun contacting potential suppliers…
LNG
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Cheniere Energy Increase Annual Profit on Strong LNG Demand
Cheniere Energy raised its forecast for annual core profit on Thursday after beating quarterly expectations on robust demand…
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Egypt Looks to Sign Multi-Year LNG Supply Deal
Egypt is in talks with energy majors including Shell, TotalEnergies and BP to buy 15 to 18 cargoes of liquefied natural gas…
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US LNG Tanker Completes First Direct Sail to China Since Tariff Dispute
A vessel carrying U.S. liquefied natural gas has sailed directly from the U.S. to China for the first time since trade tensions…
Renewables
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Palm oil drops as crude oil and Dalian palm oil weigh
Malaysian palm oil futures dropped for the second session in a row?on Thursday. Dalian's palmolein prices and crude oil prices weighed on the market…
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Australia commits $1.76 billion to keep Rio Tinto aluminium smelter open
Australia announced on Thursday that it will provide a?A$2.5billion ($1,76billion) to keep Rio Tinto's Tomago aluminum smelter…
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Australia commits $1.76 billion to keep Rio Tinto aluminium smelter open
Australia announced on Thursday that it would be providing A$2.5 billion (1.76 billion dollars) to help Rio Tinto keep its?Tomago…
