Palm closes at lowest level in 7 months due to higher production and stock levels
Malaysian palm futures continued to fall for the third session in a row on Wednesday, as market sentiment was still weighed down by concerns about higher production levels and increased inventories. The benchmark contract for palm oil delivery in July on Bursa Derivatives Exchange fell by 33 ringgit or 0.84% to 3…
Palm oil gains on stronger edible oils and logs weekly gain
Malaysian palm futures rose Friday, ending a three-week loss streak as higher rival edible oils lifted sentiment. The benchmark contract for palm oil delivery in July on the Bursa Derivatives Exchange rose 22 ringgit or 0.55% to 4,058 Ringgit ($928.60). The contract increased by 2.09% in the last week. A Kuala…
Palm oil prices rise on stronger edible oils and are set to gain weekly
Malaysian palm futures rose on Friday as the market regained confidence after a three-week loss streak. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for July delivery gained 80 ringgit or 1.98% to 4,116 Ringgit ($940.80), a metric tonne. This week, the contract has increased by 3.55%.
Britain Emphasizes Collaboration on Energy Security at Global Summit
Britain urged closer international cooperation to improve energy security on Thursday, telling dozens of other governments and business leaders that they would otherwise be vulnerable to those who were willing to weaponise supplies.Security of energy supply shot up the agenda of countries around the world after Russia's…
EU to Present a Roadmap in May for the Phase-out of all Russian Fossil Fuel Imports
Ursula von der Leyen, the President of the European Commission, said that in two weeks it will present a roadmap outlining how it plans to eliminate all Russian fossil fuel imports. She made this announcement at a London energy event on Thursday. In response to Moscow's invasion of Ukraine in 2022, the European Commission has committed to stop using Russian fossil fuels before 2027.
UK launches energy security summit by investing in offshore wind supply chain
The UK will host a summit on energy security in London, starting the event by promising to invest 399 million pounds (399 million dollars) into the domestic supply chain of offshore wind projects. After the Russian invasion of Ukraine, 2022, which led to price spikes around the globe and saw the EU try to reduce its dependence on Russian fuels.
Source: EU considering options to prohibit new Russian gas contracts
A senior EU official revealed on Tuesday that the European Commission is considering whether it can legislate in order to prohibit firms from signing new contracts with Russian fossil fuels. The senior official also added that the EU is working on legal options which would allow EU companies to terminate existing gas supply agreements with Russia without being penalized.
Sources say that the EU is looking at tweaking its methane regulations for US gas in order to facilitate trade negotiations.
Three sources with knowledge of the situation said that the European Union was looking for ways to help U.S. exports comply with their methane emission rules. The bloc is trying to avoid a trade conflict with U.S. president Donald Trump. Both sides have indicated that energy may be included in a larger trade agreement.
Prices for Europe GAS slightly lower due to healthy Norwegian and LNG supplies
The prices of Dutch and British natural gas were lower Tuesday morning due to warm temperatures, a strong supply coming from Norway and LNG. Market players continue to monitor developments regarding tariffs and the talks to end Ukraine's war. LSEG data shows that the benchmark Dutch front-month contract fell by 0.17 euros to 34.50 Euro per megawatt hour or $11.31/mmBtu at 0758 GMT.
As wind power declines, prompt prices are rising sharply
The strong anticipated loss in wind power supply has boosted European spot electricity prices on Tuesday. This overrides the effects of weaker demand before holidays later this week. LSEG's research showed that Germany would rely on imports in the near future and that thermal production was not changing much.
EU to publish plan in May to stop Russian gas and oil imports
After twice postponing the plan, the European Commission announced on Monday that it will unveil a more comprehensive strategy for phasing out Russian gas and oil imports in January. In response to Moscow's invasion of Ukraine in 2022, the EU has committed to stop using Russian fossil fuels before 2027. However…
Sources say that EU countries are seeking extra flexibility in their gas storage targets
EU diplomats have revealed that the EU is considering rules which would allow countries to deviate from the requirement of 90% gas filling before winter by ten percentage points. In 2022, the EU introduced its gas storage regulations to provide EU countries with a buffer during the winter months after Russia stopped supplying fuel following its invasion in Ukraine.
Lithuanian official: EU could aggregate the demand for US gas in trade negotiations
As part of the negotiations with President Donald Trump, Lithuania's Energy Minister said on Tuesday that the European Union might consider aggregating their member countries' demands to buy U.S. Liquefied Natural Gas in an effort to avoid a trade conflict. Maros SEFCIOVIC, EU Trade Commissioner, said that LNG…
Italy pays gas incentive for meeting 90% storage target
Gas grid operator Snam announced that Italy will introduce an incentive program at the beginning of this month in order to encourage companies to inject gas into storage following the end of the winter season when its sites were only 42% full. The European Commission set an ambitious target of 90% filling Europe's…
EU Chief: EU to counter new US tariffs
The European Commission's Ursula von der Leyen said that Donald Trump's tariffs on all goods and services were a serious blow to the global economy. She also stated that the European Union would be prepared to take countermeasures in the event of a failure to reach an agreement with Washington. Von der Leyen…
Jain and Boersma: US LNG exporters may run into a methane problem in Europe
New methane regulations may be a hindrance to the Trump administration's goal of "energy dominance", which is the United States' largest export market. The EU's President Ursula von der Leyen indicated that they may be willing import more U.S. LNG, in part to lower the EU's trade deficit. However, the process of making this happen can become complicated.
Sources say that EU is targeting energy laws to reduce red tape.
Sources familiar with the matter said that the European Commission is examining changes to EU energy law as part of its next set of proposals to reduce the regulatory burden on struggling industries. Brussels has started a campaign to eliminate layers of bureaucracy, which European businesses claim puts them…
Sources say that EU is targeting energy laws to reduce red tape.
Sources familiar with the matter said that the European Commission is considering changes in EU energy laws to reduce the regulatory burden on struggling industries as part of its next set of proposals. Brussels has started a campaign to eliminate layers of bureaucracy, which European businesses claim puts them…
Energy assets affected due to sanctions and standoff between Russia and the West
On Tuesday, the United States and Russia reached separate agreements to stop attacks on energy and maritime targets. Washington also agreed to press for the lifting of some sanctions against Moscow. In the event that a peace agreement is reached between Russia and Ukraine, the potential for a relaxation of U.S.
The EU Commission has told Spain that it will not pay in a long-running case of renewable subsidies
The European Commission gave Spain a win on Monday when it told the country that they would not be paying any compensation for claims in the billions of Euros for renewable energy subsidies cut over a decade earlier. After the conservative government of Spain cut renewables subsidies to reduce an artificially low power tariff deficit that had been built up over years…
