North Dakota drilling and fracking activity stable as prices fluctuate, state regulator states
In a Tuesday monthly briefing, the state regulator revealed that despite recent volatility in oil prices, the number of frac crews and rigs in North Dakota remained unchanged in June. There are 32 rigs and 13 frac crews currently operating in North Dakota. Baker Hughes, an energy services company, said that the U.S. energy companies last week reduced oil and natural-gas rigs by eight for the week…
What is more influential on crude oil? What is more influential: US bombs, or Iran's quiet allies?
The sharp decline in the Israel-Iran War Premium for Crude Oil shows how a few key words can move the market. However, it also hides the influence of those who remain largely silent. Brent futures, the global benchmark, plunged after U.S. president Donald Trump announced a "complete" and "total" ceasefire will be implemented between Israel and Iran.
Palm oil prices fall sharply on the back of weaker rival oils and crude prices
The price of palm oil in Malaysia fell more than 3% Tuesday, ending a four-day rise, due to the weaker Chicago soyoil prices and crude oil after the ceasefire agreement between Israel and Iran. The benchmark contract for palm oil delivery in September on Bursa Derivatives Malaysia Exchange fell 140 ringgit or 3.39% to 3,986 Ringgit ($940.09) per metric ton, its largest daily drop since April 4.
Palm oil falls by over 3% due to weak Chicago soyoil and crude oil prices
After U.S. president Donald Trump announced the ceasefire agreement between Israel and Iran, Malaysian palm futures dropped more than 3%, ending a four-day rally. They were pressured by lower rival Chicago soyoil prices and crude oil, as well as the weaker Chicago oil and soyoil. At the midday break on the Bursa Derivatives Exchange…
GRAINS-Chicago soyabeans rebound after initial pressure from weaker soybean oil; corn and wheat dip
Chicago soybean futures stabilized after briefly being weighed down due to a drop in soyoil, which was attributed to easing concerns about crude oil supply disruptions from the Middle East. The most active soybean contract increased 0.14%, to $10.48-2/8 a bushel. This ended a two-day loss streak. Soyoil fell 1.03% to 52.69cents per pound.
What is more influential on crude oil? What is more influential: US bombs, or Iran's quiet allies?
The sharp decline in the Israel-Iran War Premium for Crude Oil shows how a few key words can move the market. However, it also hides the influence of those who remain largely silent. Brent futures, the global benchmark, plunged after U.S. president Donald Trump announced a "complete" and "total" ceasefire will be implemented between Israel and Iran.
Canada Produces First LNG For Export
The Shell-led Canada facility has produced its first liquefied natural gas for export in Kitimat, British Columbia, a spokesperson for the project confirmed on Sunday.The new production, which will go mainly to Asia, comes amid concerns over disruptions to the 20% of global gas supply coming from Qatar, due to the Israel-Iran conflict and the possibility of Tehran closing the Strait of Hormuz…
Thermal Coal May Offer An Affordable Solution As LNG Prices Rise
Thermal coal may end up as a major beneficiary of escalating hostilities in the Middle East, as the fuel used to generate electricity becomes cheaper than one of its main competitors liquefied natural gas (LNG).Much of the focus of the potential fallout from the conflict between Israel, and now the United States, and Iran is the…
BP and other oil companies pulling staff out of Iraqi oilfields; output remains steady
BP, Eni, and TotalEnergies began evacuating their foreign personnel from the Iraqi oilfields in which they operate on Monday, according to state-run Basra Oil Company. Two oil officials said that the output from Iraq's south oilfields is currently unchanged, with exports of 3.32 million barrels each day. These measures are in response to the U.S.
Russell: Iran tensions are a factor in making thermal coal more affordable than LNG.
The escalating conflict in the Middle East may result in thermal coal being a major winner, since the fuel used for electricity generation is now cheaper than its main competitor, liquefied gas (LNG). The threat of crude oil and refined fuels being shipped through the Strait of Hormuz is a major concern of those who are concerned…
Soybeans and grain prices fall as Middle East tensions are in the spotlight
Chicago soybean futures slipped lower on Monday as they unraveled gains made after crude oil prices rose on fears that a U.S. strike on Iranian nuclear facilities would disrupt supply. By 1128 GMT, the most active soybean contract had fallen 0.2% to $10.58-3/4 a bushel. Soyoil rose 0.8% to $54.9 cents per pound. The oil price surged in the early trade after the U.S.
Palm prices rise for the fourth consecutive session as crude oil remains firm and the ringgit is soft.
Malaysian palm futures closed higher on Monday after reversing losses earlier in the day. Stronger crude oil prices, a weaker ringgit and Dalian oil's weakness capped the gains. The benchmark palm-oil contract for September delivery at Bursa Malaysia's Derivatives exchange gained 7 ringgit or 0.17% to 4,125 Ringgit ($961.09) per metric ton. The contract has been rising for four consecutive sessions.
VEGOILS-Weak Dalian drags palm lower, firm crude, soft ringgit cushion fall
Malaysian palm futures fell on Monday as Dalian oil, a rival oil company, was weaker. Crude oil prices were also higher and the ringgit was weaker. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for September delivery fell 12 ringgit or 0.29% to 4,106 Ringgit ($959.79). The contract increased in three successive sessions.
GRAINS: Soybeans rise as soyoil increases on Middle East tensions, but corn falls on favorable weather
Chicago soybean futures edged higher on Monday. This was supported by soyoil price gains after the U.S. attack on Iranian nuclear installations stoked fears about global crude oil supply. As of 0301 GMT, the most active soybean contract increased 0.09% to $10.61-1/2 per bushel. Soyoil rose 1.14% to 55.09 Cents per Pound. The U.S. launched a major attack on Iranian nuclear sites at the weekend.
Russell: Iran tensions are a factor in making thermal coal more affordable than LNG.
The escalating conflict in the Middle East may result in thermal coal being a major winner, since the fuel used for electricity generation is now cheaper than its main competitor liquefied gas (LNG). The threat of crude oil and refined fuels being shipped through the Strait of Hormuz is a major concern of those who are concerned…
Hungary's Orban calls on EU to lift Russian energy ban amid US/Iran conflict
Hungarian Prime Minster Viktor Orban urged on Sunday the European Union not to impose a ban on Russian Energy due to the expected increase in energy prices after the US bombings of Iran. The European Commission proposed on Tuesday a legally-binding ban on EU imports from Russia of gas and liquefied gas by 2027. Legal measures were used to ensure that EU members Hungary…
The US rushes to lock in the soaring price of oil as US producers rush for new records
The surprise attack by Israel on Iran last weekend sent oil prices surging, which caused U.S. producers to scramble to lock in this price increase. This led them into record volumes of hedging that will shield them from future swings. West Texas Intermediate crude oil futures have continued to rise this week and closed on Friday around $75 per barrel. U.S.
The price of gas in Europe has fallen from its 11-week peak, but Middle East concerns remain dominant
The Dutch and British wholesale prices of gas largely eased Friday morning, after reaching new 11-week-highs on Thursday. However, they remain volatile due to the possibility of an escalation of the Israel-Iran dispute and possible U.S. participation. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub fell 0.23 euros to 40.05 Euro per megawatt hour by 849 GMT.
GRAINS-Chicago Wheat slips as harvest pressure begins; soybeans to gain weekly
Chicago wheat futures retreated on Friday following a rally to cover shorts before the holiday season in the U.S. as harvest pressure in Europe and Black Sea region looms. As of 0211 GMT the most-active contract for wheat fell 0.59%, to $5.87 per bushel. However, it remains close to a four-month-high and is expected to gain weekly.
Israel resumes limited gas exports despite ongoing conflict; Egypt still waiting
Israel resumed exports of natural gas from its surplus, according to the Energy Ministry on Thursday. This comes nearly a full week after Israel and Iran engaged in an aerial battle. According to a source in the energy ministry, most of the gas exported is flowing into Jordan and "tiny quantities" have reached Egypt only this week.
