Palm oil reaches almost a three-week high due to strong soyoil
Supported by higher soyoil, Malaysian palm oil prices rose for the fifth straight session to close at their highest level in nearly three weeks. The benchmark contract for palm oil delivery in January on the Bursa Derivatives Exchange rose 17 ringgit (0.4%) to 4,226 Ringgit ($1,018.80). Paramalingam Supramaniam said that the contract increased in line with the soybean oil price…
Temperatures fall, wind decreases and there is a stronger demand.
The European power price rose on Wednesday as a result of a combination between lower wind production and increased demand, with temperatures falling in line with the seasons. Naser Hashemi, LSEG analyst, said: "Tomorrow’s outlook is bullish. LSEG data shows that French baseload day-ahead was up 17.5% at 99.3 Euros ($115.00 per megawatt (MWh) as of 0835 GMT.
Demand concerns and a stronger ringgit counteract a firmer soyoil, which keeps palm steady.
The price of Malaysian palm oils futures was little changed on Tuesday, despite a strengthening soyoil and concerns about demand. At the midday break, the benchmark contract for palm oil delivery in January on the Bursa Derivatives exchange gained 10 ringgit or 0.24% to 4,219 Ringgit ($1,017.61). The contract has rallied over the last four sessions.
Ukraine imports US LNG from Greece to meet winter needs
The Ukraine will import U.S. liquefied gas from Greece for its winter requirements from December to March of next year. This was announced by Greek and Ukrainian officials on Sunday, during the visit to Athens of President Volodymyr Zelenskiy. Ukraine will import natural gas through a pipeline running across…
Zelenskiy: Ukraine and Greece agree on gas imports
The President Volodymyr Zelenskiy announced on Sunday that Ukraine would receive gas imports to cover its winter requirements from Greece. He also pledged to secure almost 2 billion euros in order to counter Russian attacks on the domestic production. He said that he had already reached an agreement with Greece regarding gas supplies to Ukraine.
Germany reduces plans for new gas-powered generation as part of the decarbonisation compromise
Germany has reduced the amount of gas fired power capacity that it plans to develop, to about 10 gigawatts. This is half of what was planned at the beginning of the year. The goal is to strike a balanced between decarbonisation, and supporting intermittent renewables. Friedrich Merz, the conservative Chancellor…
Ukraine's fight for money and reform is necessary to survive the 'forever-war'
Since mid-2024, residents of Pokrovsk and Ukrainian officials have stripped the town of everything valuable: library books, beds for hospitals, industrial equipment - everything that once supported the bustling settlement with more than 60,000 inhabitants in the eastern Donbas region of Ukraine, which is mainly Russian speaking.
Merz, Germany's finance minister, calls for European patriotism in order to protect the steel industry
After a meeting of domestic producers, German States and Trade Unions on Thursday, German Chancellor Friedrich Merz (left) and Finance Minister Lars Klingbeil (right) signaled a new European patriotism for the protection of the steel industry. Klingbeil, who was at the press conference with the chancellor, said: "If we invest heavily into our defence industry then we can...
The EU has approved a Russian LNG ban, which will increase the price of gas in Europe.
Dutch and British gas rates rose on Thursday, after the EU adopted a 19th set of sanctions against Russia. This included a ban on Russian gas liquefied imports. The United States also imposed sanctions against Russia's major oil companies. LSEG data shows that the benchmark Dutch front-month contract was 32.68 euros per Megawatt Hour (MWh) or $11.11/mmBtu at 0950 GMT.
EU approves 19th Package of Russian Sanctions including LNG Ban
The rotating Danish presidency of the EU announced on Wednesday that the EU countries had approved the 19th package against Russia, including a ban on Russian gas liquefied imports. Slovakia is the last holdout after the EU agreed on the final text of the treaty last week. The European Commission has released…
EU considering classifying ethanol used in biocidal products, according to FT
Financial Times reported that the European Union may consider classifying ethanol, which is used in biocidal hand sanitizers and other products to reduce bacteria, as a hazardous substance due to increased cancer risks. The FT reported that an internal recommendation made on 10 October by one of the ECHA working groups flagged ethanol…
FT reports that EU is considering a ban on ethanol in hand sanitisers due to cancer concerns
Financial Times reported that the EU was considering classifying ethanol as a harmful substance, which increases cancer risk. The FT reported that an internal recommendation made on 10 October by one of the ECHA working groups flagged ethanol, a substance toxic, as a substance which increases the risk of pregnancy complications and cancer.
EU agrees to end Russian gas imports gradually by January 1, 2020
The Council of the European Union reported that the EU energy ministers backed on Monday the proposal to eliminate Russian gas and oil imports into the EU by January 2028. At a meeting held in Luxembourg, the ministers approved plans that would gradually phase out all new Russian gas import agreements from January 2026.
Qatar's Energy Minister warns EU laws could prevent it from supplying LNG to Europe
Qatar won't be able do business with the EU, or even supply LNG to Europe to fill its energy gap if it doesn't make further changes to its corporate sustainability regulations, said Qatari energy minister Saad Al-Kaabi on Thursday. QatarEnergy, the state-owned company that is one of the largest exporters of liquified gas in the world…
Chinese wind turbine manufacturer invests up to $2 Billion in Scottish factory
Ming Yang Smart Energy, a Chinese wind turbine manufacturer, will invest up 1.5 billion pounds ($2billion) in Scotland to build a manufacturing facility for wind turbines that could create as many as 1,500 jobs. Britain hopes to create thousands more clean energy jobs and to increase its renewable power in order to meet its climate goals.
EU Auto Group pushes hybrids and e-fuels as part of CO2 emissions goal review
The European Union's auto association suggested that the EU should relax its CO2 targets for cars and vans. It also recommended a longer period of compliance and a larger role for hybrids and alternative fuels. The European Automobile Manufacturers' Association presented proposals to European Commission which will review its targets at the end of this year.
Foreign Minister: Hungary will buy 4 billion cubic meters of natural gas from Engie in France
Peter Szijjarto, Hungary's Minister of Foreign Affairs, said that Hungary will buy 4 billion cubic meters of natural gas between 2028-2038 from the French energy company Engie. Szijjarto stated that Engie will sell 400 million cubic meters (mcm), of gas, to Hungary each year under the "longest LNG contract in Hungary’s history".
Investors insist that EU methane regulations be upheld despite US pressure
A letter obtained by the. Money managers such as Ninety One Group, Pictet Group Railpen, and Royal London Asset Management have urged the EU not to change its rules that require importers of oil to monitor the methane emission of their suppliers and to report it. Scientists say that methane, one of the strongest greenhouse gases…
EUROPE GAS - Prices stable as temperatures drop, wind power increases
The Dutch and British wholesale gas price remained unchanged on Tuesday morning, as a result of a steady demand for gas in the heating sector due to cooler temperatures. LSEG data shows that the benchmark Dutch front-month contract was 32.05 euros per Megawatt Hour (MWh), or $11.07/mmBtu at 0811 GMT. This is an increase of 0.13 Euro.
EUROPE GAS - European prices flatten as market searches for impetus
Dutch and British gas rates traded sideways on Monday morning in the absence news that would have influenced either direction. However, cooler weather with less wind is expected to support prices. LSEG data shows that the benchmark Dutch front-month contract was 32.31 euros per Megawatt Hour (MWh) or $11.14/mmBtu at 0834 GMT. This is a 0.03 euro increase.