Palm prices rise on Mideast unrest and weak supply outlook
Malaysian palm futures rose a day after falling in the previous session. This was boosted by the uncertainty surrounding the Middle East conflict and the expectation of a fall in March's output. The benchmark palm oil contract on Bursa Derivatives Exchange for June delivery gained 25 ringgit or 0.52% to 4,794 Ringgit ($1,187.81). According to Paramalingam Supramaniam of Selangor brokerage Pelindung Bestari, the palm oil market is still uneasy due to ongoing negotiations. Washington and Tehran have sent mixed signals, leaving traders uncertain whether Middle East conflict would?ease or escalate.
Palm prices rise on Mideast unrest and weak supply outlook
Malaysian palm oil futures rose more than 1% after the previous session. Prices were supported by the uncertainty surrounding the Middle East conflict and expectations of a drop in March production. By midday, the benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange had gained 65 ringgit or 1.36% to 4,834 Ringgit ($1,199.50). Palm oil traders are unsure about the future of negotiations. Washington and Tehran have sent mixed signals, leaving them unsure if the Middle East conflict will escalate or ease. Supramaniam stated that the production figures only show a marginal increase…
Palm oil prices rise for the fifth consecutive day as biodiesel and crude oil boost palm prices
The market for Malaysian palm oils futures rose on Wednesday for the fifth consecutive session, as the market was supported by the announcement of Indonesia's rollout of B50 biodiesel and the rising prices of crude oil. By midday, the benchmark palm oil contract for?June deliveries on the Bursa Derivatives Exchange had gained 33 ringgit or 0.68% to 4,861 Ringgit ($1,204.71). Anilkumar bagani, head of commodity research at Sunvin Group in Mumbai, said that the price of crude palm oil futures continued to rise, following confirmation of Indonesia's B50 Biodiesel Programme and the upward trend in energy prices.
US gas prices reach $4 per gallon due to the Iran war which has wreaked havoc on energy supplies worldwide
The U.S. average gas prices rose to $4 per gallon for the first time since more than three years on Monday, according to data from the price tracking service, GasBuddy. This was the largest monthly increase in decades. Last August 2022, after the Russian invasion of Ukraine, was when we reached $4 per gallon. Analysts have called this price a psychological barrier to consumers. The price of crude oil, which is used to make gasoline, has also risen, as have the prices of many other goods since Iran banned most shipping through Strait of Hormuz. Even before the rise in gasoline prices, U.S. household costs were increasing.
Palm futures reach 15-month high on Indonesian biodiesel plans and crude rally
Malaysian palm oil futures reached a 15-month-high on Monday. This was largely due to expectations that Indonesia will continue its biodiesel-based palm-oil programme. Rising crude oil prices also added further support. The benchmark palm oil contract on the Bursa Derivatives Exchange for June delivery was up 141 Ringgit or 3.04% at 4,772 Ringgit ($1,185.30), the highest price since December 13, 2020. Crude palm oil soared over 4,700 ringgit after news that Indonesia would soon implement the B50 Biodiesel Programme amid rising crude oil costs, said David Ng, a proprietary trading at Kuala Lumpur's Iceberg X Sdn Bhd.
Palm oil rises in third session due to firm Chicago crude, soyoil and exports
Malaysian palm oil futures rose on Monday for the third consecutive'session,' boosted by higher Chicago soyoil & crude oil prices. Meanwhile, robust export figures continued to support a positive market sentiment. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for June delivery was up 36 Ringgit or 0.78% at 4,667 Ringgit ($1,160.95). David Ng is a proprietary 'trader' at Kuala Lumpur based trading firm Iceberg X Sdn Bhd. The recent strong export performance also lifted the sentiment higher. Exports of palm oil products from Malaysia for the period?March 1-25 increased between?38.4% to 50.6% on a monthly basis, according to cargo?surveyors.
Palm futures post fourth consecutive weekly gain
After losses earlier in week, Malaysian palm futures posted a fourth weekly gain. A softer ringgit helped support the market. However, uncertainty about the Middle East war and crude oil outlook capped gains. At close, the benchmark June palm oil contract on Bursa Malaysia's Derivatives exchange rose 47 ringgit or 1.03% to 4,630 Ringgit ($1,154.04) per metric ton. The contract?advanced by 0.41% in the past week. Paramalingam Supramaniam is a director of Selangor brokerage Pelindung Bestari. He said that the market has priced in the uncertainty around?the war? and?the next direction for crude oil. The weakening ringgit also provides?additional help.
Document shows that the Japanese government has asked wholesalers to switch from Dubai to Brent pricing.
According to a document obtained by on Friday, the Japanese industry ministry has asked domestic wholesalers "to switch to Brent crude oil prices" from the Dubai benchmark when setting gasoline prices. This is an effort to limit price increases. This measure is one of many tools that Japan, which depends on the Middle East to provide?more?than 90% of its oil needs, has used in order to deal with the Iran War disruptions. The measures?have included releasing a portion of oil reserves and considering an intervention in the crude oil futures markets to combat the yen’s vulnerability. The Ministry of Economy, Trade and Industry refused to comment on the document.
Palm vegoils gains on weakening ringgit but is set to end its three-week rally
Malaysian palm oil futures rose on Friday due to a weaker ringgit. However, they are on course for their first weekly decline in four weeks, as a result of uncertainty over the Middle East war and crude oil outlook. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for June delivery had risen 19 ringgit (0.41%) to 4,602 Ringgit ($1,149.06), a metric tonne. The contract has fallen 0.30% this week. Paramalingam Supramaniam is the director of Selangor brokerage Pelindung Bestari. He said that the market is pricing in uncertainty regarding the war and crude oil's future direction, as well as the weakening Ringgit.
Palm gains nearly 2% due to stronger Chicago crude oil, soyoil and export data
Malaysian palm oil futures rose nearly 2% Thursday after two sessions of losses. Stronger Chicago soyoil and crude 'oil prices, along with robust export data, supported the'market. The benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange closed up 85 Ringgit or 1.89% at 4,581 Ringgit ($1,147.55). Anilkumar Bagani, head of commodity research at Sunvin Group in Mumbai, said that crude palm oil futures traded sharply higher as a result of a resurgence in energy prices and gains in Chicago soyoil. The strong palm oil outlook also helped. According to cargo surveyors, exports between March 1-25 rose by 38.4% to 50.6%.
Palm prices surge on higher Chicago soyoil and crude oil prices, according to export data
The 'Malaysian Palm Oil Futures' gained over 1% on Thursday after two sessions in which they had lost ground. This was aided by a stronger Chicago Soyoil and Crude Oil prices, as well as 'robust export data. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for June delivery was up 74 Ringgit or 1.65% to 4,570 Ringgit ($1,145.08). Anilkumar bagani, head of commodity research at Sunvin Group in Mumbai, said that crude palm oil futures had been trading strongly higher. This was due to gains in Chicago soyoil as well as a rebound?in energy prices. Exports of palm oil rose by between 38.4% to 50.6% from March 1-25, according to cargo surveyors.
Palm oil hits a two-week low due to weaker Dalian crude oil and Mideast uncertainty
Malaysian palm futures fell to their lowest level in two weeks Wednesday. This was due to lower crude oil prices, a decline in Dalian oil, and uncertainty over the prospects of de-escalation of the Middle East conflict. The benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange fell 41 ringgit or 0.9% to 4,496 Ringgit ($1,134.78). Paramalingam Supramaniam of Selangor brokerage Pelindung Bestari said that the decline in crude prices and Dalian had a negative impact on 'the palm market'. The sentiment is still largely influenced by crude oil, with little regard for fundamentals.
Palm oil falls on weaker Dalian crude oil amid Mideast uncertainties
Malaysian palm oil futures dropped more than 1% Wednesday due to lower crude oil prices, declines in Dalian oils, and uncertainty about prospects of a easing in tensions in the Middle East. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for June delivery was down 63 Ringgit or 1.39% at 4,474 Ringgit ($1,132.37). The palm market was affected by the decline in crude oil and Dalian, according to Paramalingam Supramaniam of Selangor brokerage Pelindung Bestari. Supramaniam said, "Everything depends on crude oil prices and ongoing discussions surrounding the negotiations to end the conflict between Iran and?U.S.
Russell: The war fuel crisis in Iran gives electric vehicles a boost for the long term.
The U.S. president Donald Trump is known for his support of fossil fuels. However, the war on Iran will likely result in an acceleration of energy transitions, particularly in Asia. Retail fuel prices have risen rapidly in the world's fastest-growing and most populous region since the U.S.-Israeli aerial campaign against Iran began on February 28. In Australia, for example, the cost of a litre?diesel has reached a record high of A$3 ($2.09), having risen by around 36% since "the war" began, while gasoline prices in Japan have risen by 18%. The countries that control fuel prices are now struggling with the availability of fuel…
Oil Prices Drop 8% Ahead of Possible Middle East Peace Talks
Oil prices dropped about 8% on Monday after U.S. President Donald Trump said he would postpone any military strikes against Iranian power plants for five days and cited constructive talks to resolve hostilities in the Middle East, hours before a deadline that threatened to escalate the four-week-old war.Brent futures fell $8.92, or 8.0%, to $103.27 a barrel at 12:31 p.m. EDT (1631 GMT), while U.S. West Texas Intermediate lost $7.17, or 7.3%, to $91.06.Extreme price changes in recent weeks - Brent closed at its highest since July 2022 on Friday…
Russell: The war fuel crisis in Iran gives electric vehicles a boost for the long term.
The U.S. president Donald Trump is known for his support of fossil fuels. However, the legacy of war against the?Iran will likely be an acceleration in the energy transition. This is especially true in Asia. Retail fuel prices have risen rapidly since the U.S.-Israeli aerial campaign began on February 28, causing the world's fastest growing region to be hit by the fallout. In Australia, for example, the cost of a litre (about 1.9 liters) of diesel has reached a record high of A$3, having risen by 36% or so since the start of the war. Meanwhile, in Japan, gasoline prices have jumped 18%.
Palm prices rise as rival Dalian and Chicago oil prices also increase
Malaysian palm futures rose on Thursday, supported by higher crude oil prices, gains in other edible oils, and expectations for stronger biodiesel demands following Indonesia's decision to accelerate road testing of B50 blend. After reaching an intraday peak of 4,628 Ringgit, the benchmark?palm-oil contract for May delivery at the Bursa Derivatives exchange gained 83 Ringgit or 1.84% to 4,582 Ringgit ($1,166.50). A Kuala Lumpur based trader stated that "the futures are currently governed by the crude oil situation. The trader said that the news that Indonesia is accelerating the B50 implementations provides "support" to the market.
Palm oil gains against Dalian and Chicago rivals, with stronger crude
Malaysian palm futures were up on Thursday due to higher crude oil prices, gains in other edible oils and the expectation of increased biodiesel consumption following Indonesia's decision to speed up road tests for B50 blend. The benchmark 'palm oil' contract for May delivery at the Bursa Derivatives exchange gained 42 ringgit or 0.93% to 4,541 Ringgit ($1,157.24), after reaching an intraday peak of 4,628 Ringgit. A Kuala Lumpur based trader stated that "the futures are currently governed by the crude oil situation. Any massive upside in Dalian, Chicago, or crude will cause it to?react".
Mixed oils and geopolitical tensions weigh on the palm oil price
The price of Malaysian palm oil futures was a little tighter on Tuesday after the long Eid holiday break. By midday, the benchmark palm oil contract on the Bursa Derivatives exchange traded between 4,565 and 4,597 Ringgit per ton. It then settled 0.63% lower ($1,161.18) at 4,582 Ringgit. A trader based in Kuala Lumpur said that mixed price movements between Dalian palm oil and Chicago soybean oils kept palm futures within a tight range. The trader said, "Geopolitical uncertainties also kept?market players on the sidelines after U.S. Dalian's soyoil most active contract dropped 0.28% while palm oil contracts fell 0.81%. Chicago Board of Trade soyoil prices rose by 0.78%.
Palm oil falls more than 1% due to weaker competitor oils and geopolitical tensions
After a long Eid holiday, Malaysian palm oils futures ended more than 1% lower on Tuesday. Weaker edible 'oils from rival countries weighed heavily on the market. The 'Middle East war also kept traders on edge. At the close, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for June delivery fell 72 ringgit or 1.56% to 4,539 Ringgit ($1,148.24). A Kuala Lumpur based trader stated that price movements in the?Dalian Palm olein? and Chicago soybean oil? kept palm futures within a?relatively tight range. The trader said, "Geopolitical uncertainties kept market participants on the sidelines after U.S.