Palm gains muted by firmer Ringgit, despite crude gains
Malaysian palm futures were flat on Wednesday, as the 'ringgit strengthened and weighed down on the market. However, the pressure from the stronger currency was offset by the higher crude oil price. At the close, the benchmark contract for?palm?oil delivery in March on the Bursa Derivatives exchange fell 1 ringgit or 0.02% to 4,035 Ringgit ($998.02) per metric ton.
Palm oil prices remain stable as ringgit and rival oil are firmer.
Malaysian palm futures were little altered on Wednesday, ahead of the Christmas holidays. A strong ringgit offset higher soyoil prices and crude oil. At the midday break, the benchmark palm oil contract on the Bursa Derivatives exchange for delivery in?March? fell 3 ringgit or 0.07% to 4,033 Ringgit ($994.57) per metric ton. The contract has risen 3.35% over the last two sessions.
In Poland's 2030 climate plan, renewable energy will make up 51-53% of the power mix.
The energy ministry said that Poland aims to have 51%-53% of its electricity mix made up by renewable energy sources by 2030. This is according to a draft version of the national energy and climate plans, which Warsaw will submit to the European Commission. The range of policy scenarios is higher than the 30% Poland announced a year ago…
Palm trades at a tight range, as a strong crude oil offsets slowing exports
Malaysian palm futures were in a tight trading range on Wednesday as higher?crude prices supported the market while concerns about sluggish?exports and 'elevated inventories' continued to weigh. The benchmark palm?contract? for March delivery at Bursa Derivatives Exchange rose 3 ringgit (0.08%) to $3,965 ringgit (970.39 USD) per metric ton.
Palm range bound as strong Chicago soyoil counters slow exports
Malaysian palm futures were traded in a tight range on Wednesday as concerns about sluggish?exports and high inventories continued to?pressurize the market. However, stronger Chicago soyoil prices and crude oil supported prices. At the midday break, the benchmark March palm oil contract on Bursa Derivatives Exchange fell 5 ringgit or 0.13% to 3,957 Ringgit ($969.14), a metric tonne.
Inditex gains on November sales after European shares flatten out
The European stock market ended Wednesday with a largely stable performance, helped by technology gains that countered sharp declines in the financial sector. Inditex, on the other hand, surged to an almost one-year high after a successful start to winter sales. The pan-European STOXX 600 index closed 0.08% higher…
Snam Receives EU Backing for Hydrogen Pipeline, CO2 Storage
The European Commission on Monday included in its new priority list for cross-border energy projects two initiatives backed by Italian gas grid operator Snam, making them eligible for EU funding.The commission had already added the projects to a priority list in 2023, but their presence in this year's update makes it likely that they will be included in Snam's updated industrial pla
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.