Investors assess US-Canada Trade Talks and TSX increases
Investors assessed the revival in trade talks between Washington & Ottawa. The S&P/TSX Composite index rose 0.2% to 26733.42 point, logging its fourth consecutive quarter of positive growth. Donald Trump called off Friday's trade talks over Canada’s digital services tax that targets U.S. tech firms. He described it as a "blatant" attack. Canada scrapped its tax late Sunday night, just hours before the date it was due to go into effect. The move was made to try and restart negotiations.
Palm oil and crude Dalian slips due to weak Dalian palm oil
Malaysian palm futures fell on Monday, erasing gains from the previous session, as Dalian palm oil and crude prices declined. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for September delivery had fallen 44 ringgit or 1.1% to $3,967 ringgit (USD $941.39) per metric ton. Dalian's palm oil contract, which is the most active contract in Dalian, dropped by 0.69%. Chicago Board of Trade Soyoil Prices rose by 0.42%.
Investors flock to Europe due to the stability of the bloc, compared with US concerns
Peter Roessner feels both sides of Donald Trump’s trade war. Investor interest in European projects has increased despite the fact that tariff risks have forced H2Apex, a Luxembourg-based firm specializing in hydrogen, to stop relying on U.S. manufacturers for a project worth more than 200 millions euros ($235 million). He said that investors in the hydrogen industry are now more focused on the European market because of the uncertainty and insecurity surrounding the planning process in the USA. This included both U.S.
Oil prices fall on the prospect of more OPEC+ supplies, easing Mideast risks
Oil prices dropped on Monday, as a easing of geopolitical risk in the Middle East coupled with the prospect of an OPEC+ production increase in August boosted supply expectations in spite of persistent uncertainty about the outlook for the global demand. Brent crude futures dropped 13 cents or 0.19% to $67.64 per barrel at 0344 GMT ahead of the expiration of the contract for August later on Monday. The September contract, which is the more active one, was down 18 cents at $66.62. U.S.
Oil prices fall on the prospect of more OPEC+ supplies, easing Mideast risks
The oil price fell 1% Monday, as the outlook for supply was boosted by a lowering of geopolitical risk in the Middle East. Brent crude futures dropped 66 cents or 0.97% to $67.11 per barrel at 0031 GMT ahead of the expiration of the August contract later that day. The September contract, which is more active, was down 83 cents at $65.97. U.S. West Texas Intermediate Crude dropped 94 cents or 1.43% to $64.58 per barrel. Both benchmarks experienced their largest weekly drop since March 2023 last week.
EUROPE GAS - Prices fall further due to mild weather and solid supply
The Dutch and British wholesale prices of gas continued to fall on Friday morning, as the mild weather and stable supplies weighed heavily on the market. Also, the risk premiums related to the Middle East conflict dwindled. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub fell 0.80 euros to 33.00 Euro per megawatt hour or $11.33/mmBtu at 0813 GMT. The contract has fallen almost 19% from the Friday's last traded price of 40.65 euro/MWh.
As Wars Rage, Middle East's Waning Influence on World Oil Prices Exposed
The contained move in oil prices during the Israel-Iran war highlights the increasing efficiency of energy markets and fundamental changes to global crude supply, suggesting that Middle East politics will no longer be the dominant force in oil markets they once were.The jump in oil prices following Israel's surprise attack on Iran was meaningful but relatively modest considering the high stakes involved in the conflict between the Middle East rivals.Benchmark Brent crude prices…
SLB predicts flat revenue and profit for the quarter amid weaker activity across Saudi Arabia and Latin America
Olivier Le Peuch, CEO of oilfield services firm SLB, said that the company expects the second-quarter revenue to be similar to the first quarter because drilling activity is weaker in Saudi Arabia and Latin America. Speaking at the J.P. Morgan Energy, Power & Renewables Conference, the CEO said that the company's Saudi Arabian activity had decreased more than expected, as several rigs were demobilized, and operations at the Jafurah unconventional gas field have been paused.
Palm prices rise on expectation of lower production and strong demand
The price of Malaysian palm oils futures rose slightly on Thursday as the market grew stronger due to lower production and demand from major destinations. At the midday break, the benchmark palm oil contract on Bursa Derivatives Exchange for September delivery gained 18 ringgit (0.45%) to $3,983 ringgit (USD $943.39) a metric tonne. The contract dropped 3.9% over the last two sessions. David Ng is a proprietary trader with Kuala Lumpur's trading firm Iceberg X Sdn Bhd.
Report: Global CO2 emissions in energy reached record levels last year
The Energy Institute's Annual Statistical Review of World Energy showed that global carbon dioxide emissions in the energy sector reached record levels for the fourth consecutive year last year, as fossil fuel consumption continued to rise even as renewable energy also hit record highs. The figures in the report highlight the difficulty of weaning the world economy away from fossil fuels, especially at a moment when the conflict in Ukraine has disrupted oil and gas supplies coming from Russia.
Brazil increases biofuels, sees self-sufficiency in gasoline
The Brazilian National Energy Policy Council approved an increase in the amount of biofuels blended into fossil fuels on Wednesday. This move was also hailed by renewable energy lobbyists who had earlier claimed that the blends wouldn't be changed this coming year. Pietro Mendes from the Energy Ministry's Oil and Gas Department announced the changes during a press conference. Alexandre Silveira, Minister of Mines and Energy at the event…
Palm oil prices fall as Middle East tensions weigh
The price of Malaysian palm oils futures fell on Wednesday, reversing earlier gains as the market was weighed down by uncertainty about the developments in the Israel/Iran conflict. However, strong export data helped to limit the losses. At the close, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for September delivery was down 20 Ringgit or 0.5% at $3963 Ringgit ($935.77) per metric ton. Exports of…
Israel's Leviathan Gas Field to Restart Operations After Shutdown During Iran Conflict
Israel's NewMed announced on Wednesday that the Leviathan gas field, which supplies gas to Egypt, Jordan and the Middle East, was shut down almost two weeks ago because of the Iran-Israel war, but would be reopened in a few hours. Since June 13, two of Israel's three natural gas fields, Leviathan operated by Chevron and Karish owned by Energean, off its Mediterranean coastline that provides the bulk of Israel's exports to Egypt or Jordan have been closed. The older Tamar field was left to operate, primarily for domestic supply.
Palm prices rise on the back of exports but Middle East unrest caps gains
The price of Malaysian palm oils futures increased slightly on Wednesday. This was a slight recovery from the previous session. Expectations of strong export numbers supported the market while uncertainty about the Middle East conflict limited the gains. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for September delivery gained 12 ringgit (0.3%), to $3,995 ringgit (USD $943.11) per metric ton. The market was jittery because of uncertainty about the Middle East conflict.
The fragile Middle East truce has knocked down the prices of crops that are tied to oil.
The price of crops around the globe has been impacted by a shaky truce between Iran and Israel, especially those that can be converted into biofuels. Prices are affected by the price for crude oil. The price of crude oil dropped sharply after President Trump announced a ceasefire. This hit futures contracts and stocks for vegetable oils like Malaysian palm, European rapeseed and Chicago soyoil. John Duvenaud, Winnipeg, Canada's crop markets analyst…
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, the first drop since September 2023. North Dakota is third in the nation for oil production.
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. Brent crude oil ended Monday at $71.48 per barrel, down 7.2% compared to its previous close.
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, the benchmark palm oil contract, for September delivery, lost 126 Ringgit or 3.05% to 4,000 Ringgit ($940.73) per metric ton, its largest daily loss since April 7.
China doubles 2025 naphtha import quotas, sources say
Six trade sources reported that China issued a second set of import quotas for 2025, which nearly doubled the allocations last year, due to a rise in demand caused by disruptions of U.S. propane and ethane supplies, as well as new cracker startup companies. A source with knowledge of the issue said that the quotas issued in mid-June were extended to ten chemical companies. They will now be able to import approximately 12 million metric tonnes of the refined oil products…
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. David Ng is a proprietary trader with Kuala Lumpur's Iceberg X Sdn. Bhd.
