Palm oil falls as crude and rival oils slump
Malaysian palm oil futures declined on Tuesday, following rival edible oils in Dalian and Chicago and crude oil prices. By midday, the benchmark palm oil contract for May delivery at the Bursa Malaysia Derivatives Exchange had fallen 106 ringgit or 2.32% to $4461 ringgit (1,134.83 USD) per metric ton after having dropped to 4,370 rings earlier. A Kuala Lumpur trader stated that "the futures are tracking the performance of Dalian palm oils, Chicago soy oils and crude oil while waiting for Malaysian Palm Oil Board data".
Oil majors are still stuck on the sidelines as Iran's war increases oil prices.
Oil prices rose to their highest level since 2022 on Monday, but the shares of major producers such as Shell and Exxon Mobil are still only seeing modest gains'since the U.S. - Israel war on Iran 'broke out last month. This suggests that traders believe the pain in the market could be temporary. The iShares Global Energy ETF, which tracks global energy companies, is up about 2%. Crude oil futures are up more than 40% since Israel launched its joint airstrikes with the U.S. on February 28.
Palm oil prices surge as crude oil rises, boosting biodiesel prospects
Malaysian palm-oil futures jumped more than 9%, before paring gains on Monday. This was the largest jump in three years. It is expected that a rise in crude oil prices will boost demand for biodiesel feedstocks. The benchmark May palm oil contract on the Bursa Derivatives Exchange rose 203 ringgit or 4.65% to $4,570 ringgit (1,154.04) per metric ton after surging earlier in the day to 4,803 ringsgit. This was its highest level?in over a year. On Monday, oil prices soared to $119 a barrel, a level?not seen in the market since mid-2022.
Middle East conflict may spur demand for palm oil in biodiesel sector
Industry officials have told?that the Middle East conflict, which has pushed up crude oil prices, could boost demand for palm oils in the biodiesel industry and for food use. Asian buyers are looking for quick shipments. Indonesian and Malaysian production reached a new record in 2025. This resulted in a rise of stocks and pressure on prices. The conflict has made palm oil more attractive to biodiesel producers, and prices have risen to their highest levels in over a year.
As oil prices rise, Indonesia could revive its B50 mix of biodiesel
Yuliot Tanjung, the deputy energy minister in Indonesia, said that the rising crude oil prices caused by the conflict in the Middle East may force Indonesia to reconsider its plan to introduce a B50-grade biodiesel. Yuliot said in a weekend email that Indonesia has not yet made a decision. Due to funding and technical concerns, the authorities scrapped their plan to launch B50, a blend consisting of 50% palm-oil-based biodiesel?and 50% conventional fuel?this year. Instead, they stuck with B40. Yuliot stated that the government, in light of the U.S.
Iran War threatens to hit global energy markets for a long time
Even if the U.S. and Israel's war against Iran ends soon, consumers and businesses around the world could face weeks or even months of higher fuel costs as suppliers deal with damaged facilities and logistics and increased shipping risks. This outlook is a threat to the global economy and to President Donald Trump's political position as he heads into midterm elections. Voters are concerned about energy costs and do not like foreign involvement. JP…
The Iran War threatens to have a long-lasting impact on global energy markets
Even if the conflict with Iran ends soon, consumers and businesses could face weeks or even months of higher fuel prices. This is because suppliers are dealing with damaged facilities, disrupted logistic, and increased risks in shipping. This outlook is a greater threat to global economic stability and a political vulnerability to U.S. president Donald Trump as we approach the midterms. Voters are sensitive to energy costs and do not like foreign involvement.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in four-weeks.
Energy services firm Baker Hughes reported on Friday that U.S. energy firms added oil and gas rigs this week for the first time since four weeks. Baker Hughes reported that despite this week's increase in rigs the total count is still 41 rigs or 7% lower than this time last year. Baker Hughes reported that oil rigs increased by four this week to 411, the highest since early February. Gas rigs, on the other hand, fell by two, to 132, which is their lowest level since early February. As U.S.
Equinor, a Norwegian company, wants to keep gas and oil exports high despite the rising prices
The Norwegian energy company Equinor is focusing on maintaining high levels of regularity when it comes to its exports of crude oil and natural gases to Europe. This is because the Iran conflict has a significant impact on global energy supplies. The U.S. and Israeli campaign against Iran, and its retaliatory strikes across the Gulf Region have paralyzed shipping through the Strait of Hormuz. This is a crucial route for oil and liquefied gas (LNG), producers in the Gulf. This week, oil and gas prices have risen due to disruptions.
Palm bounces back with strong crude oil
Malaysian palm futures rose?on Thursday, and reached the highest levels in a month. This was aided by an increase in crude oil prices. By midday, the benchmark palm 'oil contract on the Bursa Derivatives exchange for May delivery?added 36 ringgit (0.86%) to $4,215 ringgit (1,069.25 USD) per metric ton. The price of a metric ton rose up to 4,220 Ringgit earlier in the day, its highest level since the 5th of February. "Bursa Malaysia crude palm oil futures…
Ecopetrol's quarterly profit drops by 61%
Ecopetrol, Colombia's state-owned oil company, reported on Wednesday a 60.8% decline in profits for the fourth quarter compared to a year earlier. This was due to lower Brent crude oil prices, lower gas sales at home, and a weaker currency. The company reported in a filing with Colombia's stock exchange that the net profit for the third quarter was 1.53 trillion Colombian Pesos ($403 millions) on total sales which fell 17.2%, to?28.82 billion pesos.
Palm oil rises for a third session and follows rivals who are firmer, while crude is higher
The price of Malaysian palm oils futures rose for the third time on Tuesday. This was due to the rise in crude oil prices and gains in rival edible oils traded in Dalian and Chicago, as well as the rising 'crude' oil prices. However, weak export data limited the upside. By 0250 GMT, the benchmark palm oil contract on Bursa Malaysia's Derivatives Exchange for May delivery had gained 4 ringgit (0.1%), or $4151 ringgit (1,057.31) per metric ton. The session began with the contract reaching its highest level in over three weeks.
Wall Street closes with a narrowly mixed result, but trading is volatile following air strikes on Iran
U.S. stock prices ended Monday close to flat after a volatile session that saw shares fall early following the weekend's?U.S. Israeli air strikes against?Iran.?But there were bounces all day long as investors bought dips. The coordinated U.S.-Israeli strikes against Iran last weekend resulted in the death of Tehran's Supreme leader, and shocked global markets. Oil prices rose and many overseas stock indexes ended lower. Investors in the United States who were looking for bargains bought at the dips following the initial sell-off.
Galp, a Portuguese company, sees its core profit decline further due to lower oil prices and margins
Galp Energia said that its adjusted 'full-year core profits fell 8%, to $3.57 billion. The company warned on Monday of a further decline in this year. The company blamed weaker oil prices, a refinery shutdown and other factors for the decline in 2025. It said that it expected core profit to drop further in 2026 to at least 2,6 billion euros despite a projected?15% rise in oil production to 125,000-130,000 barges per day. The company predicted?an average price of $60 per barrel Brent crude oil for this year. This is down from $69.10 in 2025.
Baker Hughes reports that US oil and gas drillers have cut back on rigs in the US for the first time in six-weeks.
Baker Hughes, an energy services company, said that the U.S. cut back on the number of natural gas and oil rigs for the first time since six weeks. The number of oil and gas drilling rigs, a good indicator of future production, dropped by one in the week ending February 27. This is the lowest level since late January. Baker Hughes reported that the total number of rigs is down 43 or 7% from this time last week. Baker Hughes reported that?oil?rigs dropped by two this week to 407, their lowest level since December.
APA exceeds its quarterly profit forecasts as lower costs offset the weak price, output
Oil and 'gas company APA beat the fourth-quarter profit estimate?on Friday. This was helped by lower operational costs that offset the impact of weaker commodity prices & a decrease in?production. The global?crude oil price has been impacted by the growing fears of a glut, and the prospect that Venezuela will add more barrels to supply. WTI crude oil prices fell by about 20% between 2025 and 2026, while they dropped 8% during the quarter of October-December.
EOG Resources exceeds profit expectations on the back of strong production and higher gas prices
EOG Resources beat estimates for the fourth quarter profit on Tuesday as higher natgas and output prices offset a drop in crude oil prices. U.S. Natural Gas Futures increased over 11% sequentially during the fourth quarter. This was due to stronger demand, and an increase in pipeline volumes. The rise ended a downward trend that began in the second quarter because of record U.S. Production. EOG said it produced approximately 1.40 million barrels per day of oil equivalent in the fourth quarter compared to 1.09 million boepd one year ago.
Diamondback misses its profit forecast as lower oil prices weigh
Diamondback Energy missed Wall 'Street's expectations for the fourth quarter profit on Monday as it struggled to cope with lower oil prices. Its shares fell more than 3% during extended trading. The global crude oil price has been impacted by the growing fears of an oversupply and the prospect of more Venezuelan barrels coming back onto the market. WTI crude oil prices fell by about 20% between 2025 and the third quarter of this year. Benchmark Brent crude was about $63.13 a barrel in the period between October and December, a drop of more than 9%.
Baker Hughes reports that US drillers have kept the number of oil and natgas drilling rigs unchanged for a second consecutive week.
Baker Hughes, a leading energy services company, said that the number of oil and gas rigs in the United States remained unchanged this week for a second consecutive week. The number of oil and gas drilling rigs, a good indicator of future production, remained at 551 during the week ending February 20. This is the same as the previous week. Baker Hughes reported that despite the lack of movement this week, there were still 41 rigs or 7% less than this time last year. Baker Hughes reported that oil rigs remained at 409 this week while gas rigs remained at 133.
Palmetto slips but still posts weekly gains to end two-week decline
Malaysian palm futures ended lower on Friday due to weaker soyoil and concerns about overproduction. However, the contract posted a weekly gain after two consecutive weeks of losses. At the close, the benchmark 'palm oil' contract for May delivery at Bursa Malaysia derivatives Exchange fell 27 ringgit or 0.66% to 4,090 Ringgit ($1,048.72). This week, the contract increased by 0.99%. Anilkumar bagani, commodity researcher at Mumbai-based Sunvin Group…