India's MCX launches electricity futures to hedge against weather-driven demand changes
The Multi Commodity Exchange in India will launch India's first electricity contracts on Thursday. This tool allows power generators, distributors and large industrial users to manage their risk. MCX announced in a Tuesday statement that the exchange would initially offer cash-settled contract for the current three-month period and for the next three months. However, they will be made available thereafter for all twelve calendar months. Praveena Rai, the managing director of the exchange…
As Wars Rage, Middle East's Waning Influence on World Oil Prices Exposed
The contained move in oil prices during the Israel-Iran war highlights the increasing efficiency of energy markets and fundamental changes to global crude supply, suggesting that Middle East politics will no longer be the dominant force in oil markets they once were.The jump in oil prices following Israel's surprise attack on Iran was meaningful but relatively modest considering the high stakes involved in the conflict between the Middle East rivals.Benchmark Brent crude prices…
GRAINS-Chicago Wheat slips as harvest pressure begins; soybeans to gain weekly
Chicago wheat futures retreated on Friday following a rally to cover shorts before the holiday season in the U.S. as harvest pressure in Europe and Black Sea region looms. As of 0211 GMT the most-active contract for wheat fell 0.59%, to $5.87 per bushel. However, it remains close to a four-month-high and is expected to gain weekly. Wheat gained some support during the previous trading day, as weather concerns in certain parts of the U.S.A. and Europe led speculators in those regions to cover their short positions.
Yergin: The next 3-5 days will be critical for the global energy markets if Israel and Iran have a significant development.
The next three to five day developments in the Iran-Israel conflict will be crucial for global energy markets, even though the Gulf oil and gas supply has not been interrupted yet. This was the view of oil historian Daniel Yergin on Wednesday. Iran and Israel launched missile attacks on each other Wednesday, as the air conflict between the two longtime rivals entered its sixth day. This was despite the U.S. president Donald Trump's call for Tehran to "unconditionally surrender" after he had left an early Group of Seven summit over the crisis.
Grain prices are higher as soybeans and crude oil end the day in a positive trend; wheat is up, while corn is mixed
Chicago Board of Trade soybeans futures closed higher Tuesday. This was supported by the rising crude oil price and uncertainty over Midwest crop weather for the coming weeks. Soyoil prices also eased after a two-day sharp rally linked to stronger U.S. Biofuel Blending mandates. Analysts said that CBOT wheat reached a new high after a slow start in the U.S. harvest of winter wheat allowed speculators cover their short positions. After wheat and crude oil futures, corn prices were mostly higher. However, the front-month contract for July ended lower.
Grain prices are up, with wheat and corn both rising.
Chicago Board of Trade soybeans futures rose on Tuesday due to rising crude oil and the uncertainty surrounding Midwest crop weather for the coming weeks. Soyoil prices fell after a two-day sharp rally linked to increased U.S. Biofuel Blending mandates. Analysts said that CBOT wheat reached a new high in a week as the slow start of U.S. winter harvest wheat allowed speculators cover their short positions. Analysts said that corn futures rose mainly after wheat and crude oil. However, the front-month contract for July was under pressure. As of 1:11 p.m.
Prices increase on lower wind energy and wider energy complex
European baseload electricity prices increased on Monday morning, mainly due to the expectation of a lower wind output on Tuesday and gains on other energy markets. The French day-ahead baseload contract jumped 18.40 euros, to 47.50 Euros per Megawatt Hour (MWh), by 0848 GMT. Meanwhile, the German equivalent contract was 90.85 Euros/MWh. The wind power output in Germany will decrease tomorrow, while consumption increases. "The moderate increase in solar output is not sufficient to compensate for the two changes.
Palm snaps its two-day winning streak as rising production and stocks weigh on it
The Malaysian palm futures market ended a two-day streak of gains on Wednesday. This was due to rising production and inventory levels, which weighed heavily on the market. However, stronger edible oils from other countries and positive export data helped limit the decline. The benchmark contract for palm oil delivery in August on the Bursa Derivatives exchange fell 12 ringgit or 0.31% to 3,896 Ringgit ($913.05), a metric tonne, at the close. A Kuala Lumpur…
VEGOILS - Palm up on export data, stronger rival oil, and rising production; stocks, stock gains, and rising output.
The price of Malaysian palm oil futures rose on Wednesday due to higher prices for rival edible oils, as well as relatively positive export data. However, the gains were limited by increasing production and inventory levels. At the midday break, the benchmark palm oil contract on Bursa Derivatives exchange for August delivery had increased by 8 ringgit (0.2%), to 3,916 Ringgit ($917.10) per metric ton. The contract has risen for two sessions in a row. A…
After US tariff pause, prices of gas in Europe rebounded
The prices of Dutch and British gasoline rebounded Thursday, after U.S. president Donald Trump announced a 90-day suspension on tariffs on many trading partners. LSEG data shows that the benchmark Dutch front-month contract increased by 1.5 euros, to 34.70 Euros per megawatt hour or $11.21/mmBtu at 0818 GMT. LSEG data show that the contract reached a low intraday of 32.50 euro/MWh on Wednesday. This was its lowest level since July 2024. The Dutch June contract increased by 2.31 euros to 35.91 Euro/MWh.
Palm oil is gaining to follow Chicago soyoils and crude oil higher
Malaysian palm oils futures climbed slightly higher on Tuesday after three sessions of losses. They mirrored the movement in crude oil, Chicago soyoil and other commodities, but concerns over high Malaysian stocks of palm oil capped gains. At closing, the benchmark palm oil contract on Bursa Malaysia's Derivatives Exchange for June delivery gained 2 ringgit (0.05%) to 4,187 Ringgit ($932.72) per metric ton. Early in the session the contract climbed as high as 2.27%…
Palm oil is gaining to follow Chicago soyoils and crude oil higher
The price of Malaysian palm oils futures rose on Tuesday. This ended a three-session losing streak, boosted by the strength of crude oil, Chicago soyoil and a weaker Ringgit. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange rose by 1.15%, to 4,233 Ringgit ($944.87) per metric ton. Fears of an expanding global trade war led to a partial recovery of the 7.5% loss that the contract had suffered over the previous three sessions. Palm oil prices mirror the recovery in the energy markets and U.S.
Nigeria’s Refining Revolution is Reshaping West Africa’s Energy Landscape
The launch of the Dangote Refinery near the Port of Lagos presents an exciting opportunity to transform the energy and shipping markets in West Africa. And it stands to boost Nigeria’s role as an influential player in the global oil industry, fostering economic growth and regional development.Nigeria’s standing in the global energy landscape is getting a boost with domestic refining capacity expanding in 2025. The Dangote Refinery near Lagos presents a…
The benchmark Dutch gas price has fallen on EU's Ukraine gas transport push
Dutch wholesale gas fell below 40 euro ($43.31), for the first time in this year, after news broke that European leaders were set to ask EU authorities and Kyiv intensify their talks to resolve an end to Russian gas transiting through Ukraine. By 1606 GMT, the benchmark front-month contract for the Dutch TTF hub had fallen by 2.15 euros to 38.85 euros/MWh, or $12.26/mmBtu. LSEG data show that the contract reached 38.48 Euros in early trade, its lowest since November 2024. The contract for May fell by 3.24 euros, to 38.62 Euro/MWh.
Report says India's renewable sector is hit by low demand and cancellations
The Institute for Energy Economics and Financial Analysis reported on Thursday that India's renewable sector faces a number of obstacles, including a weak demand for bids, delays in power agreements and cancellations of projects. IEEFA reported that the country issued a record number of 73 gigawatts for utility-scale renewable energies tenders in 2024. However, about 8.5 GW were undersubscribed, five times more than in 2023, due to lower demand caused by complex tender structures and delays with interstate transmission readiness.
The US natgas price is rising due to concerns about Canada tariffs
U.S. Natural Gas Futures rose 10% on Tuesday to a 26 month high, on record flows into liquefied gas export plants. There was also concern that Canadian gas exports could be affected by the tariffs placed on Canada and Mexico by U.S. president Donald Trump. Canada provides about 8% total U.S. demand for gas, including exports. Some of these return to Canada. The U.S. will consume approximately 90.2 billion cubic foot per day (bcfd), and export another 21.1 bcfd as LNG or via pipelines in 2024 to Mexico, Canada and other countries. The majority of U.S.
The US natgas price is rising due to concerns about Canada tariffs
U.S. Natural Gas Futures rose 10% on Tuesday to a 26 month high, on record flows into liquefied gas export plants. There was also concern that Canadian gas exports could be affected by the tariffs placed on Canada and Mexico by U.S. president Donald Trump. Canada provides about 8% total U.S. demand for gas, including exports. Some of these return to Canada. The U.S. will consume approximately 90.2 billion cubic foot per day (bcfd), and export another 21.1 bcfd as LNG or via pipelines in 2024 to Mexico, Canada and other countries. The majority of U.S.
EUROPE GAS-Prices rise amid Ukraine concerns, strong demand
Dutch and British wholesale prices for gas rose Monday morning, as market demand and concerns about a possible peace agreement with Ukraine supported the market. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was up 2,19 euros, or 14,19/mmBtu at 46,50 euros per Megawatt Hour (MWh), by 0914 GMT. The Dutch May contract increased by 2.15 euros to 46.80 Euros/MWh. The day-ahead contract in the British market was up 3.80 pennies at 111.30 pence per therm. After a clash between U.S.
Woodside Energy's profit for the year is at its lowest level in three years due to low oil and gas prices
Woodside Energy, a major oil and gas company, reported on Tuesday its lowest annual profit in the last three years, due to lower realized prices. However, it maintained its production forecast for 2025, based on expectations that demand for liquefied gas will be strong. The energy markets were affected by geopolitical events that occurred in the past year. Slowing global growth, and a softening of demand from China's top consumer also pushed down commodity prices. Woodside's average realized price for its products is $63.60 per bar of oil equivalent.
Palm oil falls on Dalian crude oil, weakening it
Malaysian palm futures dropped on Thursday, ending a five session rally. Pressured by lower Dalian oil and lower crude oil prices, sparked by the talks to end Ukraine-Russia's war, they were pushed down by weaker Dalian oil. At midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for April delivery fell 63 ringgit or 1.36% to 4,558 Ringgit ($1,023.35) per metric ton. Anilkumar bagani, head of commodity research at Mumbai's Sunvin Group, said that crude palm oil futures fell following a selloff on energy markets, after U.S.
