Palm futures post fourth consecutive weekly gain
After losses earlier in week, Malaysian palm futures posted a fourth weekly gain. A softer ringgit helped support the market. However, uncertainty about the Middle East war and crude oil outlook capped gains. At close, the benchmark…
EU Ministers call for a united front on the energy crisis
The European Union Finance Ministers will coordinate their response on Friday to the energy price surge caused by the Iran 'war. They will ensure that the measures help the most vulnerable and?move Europe away from fossil fuels while keeping fiscal costs and demand under control.
EUROPE GAS - European gas prices rise on the back of oil gains and low stock levels
The benchmark British and Dutch wholesale gasoline prices rose on Friday morning. This followed a rise in oil prices despite the fact that U.S. president Donald Trump had extended a pause to attacks against Iran's energy plants.
Taiwan freezes its electricity rates to maintain the industry's competitiveness and stabilize prices
The economy ministry announced 'on Friday that Taiwan won't raise its electricity prices for the time being, despite the fact that energy prices are higher due to the Middle East war. This is to maintain price stability and to keep the industrial competitiveness.
Palm vegoils gains on weakening ringgit but is set to end its three-week rally
Malaysian palm oil futures rose on Friday due to a weaker ringgit. However, they are on course for their first weekly decline in four weeks, as a result of uncertainty over the Middle East war and crude oil outlook. By midday…
India reduces special excise duty on petrol and diesel
India has slashed the special excise duty on 'petrol and diesel' as fuel prices remain volatile, with supplies being?stifled by the Iran war. The Indian Finance Ministry reduced the special excise tax on petrol from 13 rupees…
Venture Global and Edison resolve arbitration dispute regarding early Calcasieu Pass gas sales
Venture Global and Edison announced on Thursday that?they?had?reached an agreement in order to settle a longstanding arbitration dispute relating to allegations that the American exporter liquified natural gas had failed to deliver contractual shipments to the Italian firm.
Iran has been seen as focusing on renewable energy investments with a focus on security and not climate.
Executives at the CERAWeek Conference in Houston said that energy security concerns, which once limited investment into renewable energy, could now accelerate its growth more than climate change worries. This is because oil and…
After a month of high energy prices, Big Oil will reap billions in profits from the war with Iran
While Big Oil executives met this week to discuss the largest-ever disruption to global energy supply due to the conflict in Iran, they didn't address one aspect of the impact: the multi-billion-dollar windfall that they will…
Iran is open to Spain's request for transit through Hormuz
The Iranian Embassy in Spain announced 'on Thursday' that Iran would accept any request made by Madrid in relation to the Strait of Hormuz, because Spain "respects" international law. This is the first time such a concession has been offered to a member state of the EU.
TotalEnergies honours all LNG contracts in Qatar despite outages
TotalEnergies CEO Patrick Pouyanne stated?on Thursday? that the company decided not to declare force majeure for any of its customers of liquefied gas and would honor all LNG contracts in terms of volume and price. Qatar, the largest LNG producer in the world…
Trump will announce measures to assist US farmers on Friday
Donald Trump said on Thursday that his administration will announce "actions to assist U.S. farmers" on Friday as the White House prepares for an event to highlight the agricultural sector. The move is made as the Administration…
Sources say that the EU is urging countries to fill up gas storage tanks early in anticipation of the Iran War.
As the Iran War disrupts fuel markets around the world, EU diplomats have urged EU countries to begin filling up gas storage caverns as soon as possible in order to be prepared for winter next year. The diplomats reported that…
S&P increases its inflation forecast for Turkey due to the energy impact of war
S&P Global has raised its forecast for Turkish inflation to almost?29% this year, mainly?due to?surging energy prices. This highlights the country's vulnerability due to Iran War fallout which is already testing its long-term inflation-fighting efforts.
India has 60 days' worth of oil supplies in case of disruption to Hormuz
India has secured crude supplies for the next 60 days. This will ensure stable fuel supplies to 'the country, despite disruptions in shipments from Middle East. India, the world's largest oil consumer and buyer, imported over 40% of all its oil from the Middle East. The U.S.
The Iranian market is a catalyst and a slowdown for the European green energy race
Investors are wary of the market volatility and interest rate hikes expected in the future, as well as the slow permitting process. The 'war in Iran' and its associated surge in fossil fuel prices has prompted some politicians to push for more renewable energy.
China's Davos loses its lustre, as the debate dims and face-time with leaders diminishes
Some international participants have said that two high-profile Chinese forums, one of which was dubbed Asia’s Davos has lost its lustre as Beijing concentrates on boosting the domestic economy and confronting various governments over trade issues.
The UK has reopened its domestic CO2 plant in response to the threat of war with Iran.
The UK announced on Thursday that it would spend 100 million pounds ($133.5?million?) to restart the production of biogenic CO2 at a closed plant in Teesside, for a period of three months. This is to avoid any shortages resulting from the Iran War.
Germany restricts fuel price increases as Iran conflict causes surge
Germany's lower house of parliament approved initial measures on Thursday to reduce the surge in fuel prices in Europe's largest economy after the conflict with Iran has driven prices up sharply. According to the law, petrol…
EU Chemical Agency backs PFAS ban
The European 'Chemicals Agency' on Thursday recommended a wide EU-wide prohibition on PFAS or "forever chemicals" with some?"exemptions," as policymakers prepare legally binding limits on substances posing a health risk that lingers in the environment.