Palm extends its gains as it faces Indonesian output risks and a softer ringgit
Malaysian palm futures rose for the third consecutive session on Monday, thanks to a weaker ringgit as well as bullish predictions from industry analysts. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery gained 13 ringgit or 0.31% to 4,158 Ringgit ($1,002.89) per metric ton. A Kuala Lumpur based trader stated that the contract…
Wall St hedge funds reduced megacaps in the third quarter
According to the most recent quarterly disclosures, Wall Street's biggest hedge funds have reduced their exposure to certain Magnificent Seven companies, such as Nvidia and Alphabet, and placed new bets on sectors like application software, ecommerce, and payments. The following are some key positions changes made by the funds. Bridgewater Associates outperformed its peers in the first nine-month period of the year…
Orplana CEO: Sugarcane farmers in Brazil's key region are feeling the pinch of low prices
Sugarcane growers in Brazil's central-south region feel the pinch due to low sugar prices. They do not want their crops to expand and may even reduce the area they plant with the crop. Jose Nogueira is the CEO of the cane growers association Orplana. He said this on Friday. Last week, raw sugar futures reached a low of 14,04 cents per lb. Prices had dropped to 14.96 cents a lb on Friday but were still subdued in comparison with recent highs.
Kimmeridge, an activist investor, takes a stake in US energy company Devon
Kimmeridge Energy Management, an activist investment firm, has acquired a stake in Devon Energy of the United States. This was revealed by a stock exchange filing on Friday. Kimmeridge held 5.66 million Devon shares at the end of September according to the filing. According to calculations, this would equate an approximately 0.9% share in Devon. It is also the 14th largest shareholder of Devon according to data provider LSEG.
India permits 1.5 million tons of sugar exports due to higher domestic surplus
India has allowed 1.5 million metric tonnes of sugar to be exported in the new season. The government announced this in a Friday notification, as it is expected that a decrease in sugar being diverted for ethanol will result in a greater domestic surplus. Sugar futures in New York and London could be impacted by higher exports from the second largest sugar producer in the world. These futures are currently at five-year lows.
As yttrium shortages grow, a new rare earth crisis is on the horizon
Due to Chinese export restrictions on yttrium, global supplies are in short supply. This has led to fears of shortages, and a rise in costs, which could affect aerospace, energy, and semiconductor production. In April, China, which is the primary source of this element, used in coatings that protect against high temperatures and in alloys for engines, limited exports, along with six others rare earths, in response to U.S. duties.
Saudi Aramco to Sign US LNG Supply Agreements
Saudi Aramco is set to sign two U.S. liquefied natural gas supply deals with Woodside Energy and Commonwealth LNG when Saudi Arabia's Crown Prince Mohammed bin Salman visits Washington next week, sources familiar with the matter told Reuters.The world's largest oil exporter, Saudi Aramco, wants to become a major liquefied natural gas player, especially in the United States, where LNG capacity is set to almost double over the next four years.
Saudi Aramco will sign US LNG contracts during the crown prince's Washington visit, sources say
Saudi Aramco will sign two U.S. LNG supply agreements with Woodside Energy & Commonwealth LNG next week when Saudi Arabian Crown Prince Mohammed bin Salman is in Washington, according to sources with knowledge of the situation. Saudi Aramco wants to be a major player in liquefied gas, particularly in the United States where the LNG capacity will almost double within the next four-years. It has signed agreements with other U.S.
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 and his Social Democrat coalition partner reached a decision late Thursday night.
VEGOILS-Palm ends four-week losing streak amid weak demand, elevated stocks
Malaysian palm-oil futures ended Friday on a high note, ending a four week decline despite concerns about a weak demand for November and higher inventories. At the close, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery remained at 4,125 Ringgit ($976.56) per metric ton. The contract increased by 0.39% in the past week. The market is under pressure due to the combination of a stronger ringgit and lower November demand.
Palmetto set to decline for fifth week on weak November demand and elevated stocks
Malaysian palm futures fell on Friday. The market is now poised to experience a fifth consecutive weekly decline due to the weak demand for palm oil in November. A stronger ringgit, along with the expectation of higher inventories, are all contributing factors. By midday, the benchmark contract for palm oil delivery in January on the Bursa Derivatives exchange had lost 22 ringgit or 0.53% to 4,103 Ringgit ($971.35) per metric ton.
India's green hydro ambitions falter on demand uncertainty
India's green-hydrogen ambitions are slipping due to the slow commissioning of projects, which is largely driven by insufficient infrastructure and unclear demand signals. This was stated by a U.S. energy think tank on Friday. The Institute for Energy Economics and Financial Analysis stated in a note that despite strong investor interest, 94 percent of the planned green hydrogen capacity of the country is still at the announcement phase.
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. Pro-Kremlin feeds on social media showed that several hundred Kremlin troops were entering the town this week.
White House hosts oil and biofuel discussions as Trump administration closes to a decision on refinery exemptions
Four sources familiar with these discussions say that the White House held separate meetings this week with oil refiners as well as biofuel producers to try to resolve an ongoing dispute about billions of gallons in biofuel blending requirements waived by the U.S. for small refineries. Discussions indicate that the Trump administration will soon make a final decision about whether or not larger refiners are required to compensate for the waived gallons.
Congo produces the first 1,000 tons traceable artisanal Cobalt
The state cobalt company in the Democratic Republic of Congo produced the first 1,000 metric tonnes of traceable artisanal. This is a major step towards formalizing this sector in a nation that supplies a large portion of the world’s battery metal. Congo is home to 72% of the world's cobalt reserves, and 74% of its supply comes from artisanal mining. Artisanal mines are a lifeline in Congo.
IMF will soon begin a mission in Ukraine, stressing the need for anti-corruption measures
Julie Kozack, the spokesperson for the International Monetary Fund, said that a staff delegation will be sent to Ukraine to discuss the country's financing needs and to explore a possible new lending program. She also stressed the importance of continuing anti-corruption measures in the war-torn nation. Yuliia Shvyrydenko, Ukrainian Prime Minister, announced on Thursday an audit of state-owned businesses…
EU injects new money into Ukraine for Naftogaz
The top European development banks and Ukrainian Naftogaz energy company signed a deal Thursday that will provide hundreds of millions to ensure Ukraine's gas supply in the face of ongoing Russian attacks on its infrastructure. The war with Russia has impacted the energy system of Ukraine, causing a rise in gas imports. Norway announced in January that it would finance Ukrainian purchases of natural gas.
Palmetto closes slightly higher, despite increasing production and India demand concerns
Malaysian palm futures ended Thursday on a higher note, despite increasing production expectations and concerns about demand from India, the country's largest buyer. At the close, the benchmark contract for palm oil delivery in January on Bursa Derivatives Exchange rose by 2 ringgits, or 0.05%. It was 4,126 ringgits ($976.80), per metric ton. The contract dropped 0.31% during the previous session.
Inpex Japan raises its annual profit forecast due to lower costs
Inpex, Japan's largest oil and gas exploration company, raised its net profit forecast by 5% for the year on Thursday. Lower-than-expected expenses offset a reduced shipment of its Ichthys project in Australia because of maintenance. The company expects a net profit of $3.65 billion in 2025. This is up from the August forecast of $3.65 billion. It also exceeds analysts' estimates of 370.9 billion yen, according to an LSEG survey.
Norway oil companies raise 2026 investment outlook, survey shows
A survey by the Norwegian Statistics Office of industry participants showed that their estimated investments for 2026 have increased compared to three-month estimates. Norway is the world's second largest oil producer, and after Russia invaded Ukraine in February of 2022 it became Europe's leading natural gas supplier. According to estimates made in August, the country's…