Russia Warns of Cutting Oil Output Following Drone Attacks
Russia's oil pipeline monopoly Transneft has warned producers they may have to cut output following Ukraine's drone attacks on critical export ports and refineries, three industry sources said on Tuesday.Kyiv has stepped up attacks on Russian energy…
Analysts say that ConocoPhillips’ deep-seated layoffs demonstrate the need for capital discipline.
Investors and analysts have said that ConocoPhillips needs to focus more on its capital discipline and its investment priorities to be competitive against its peers, as oil prices are falling and revenues are also declining. This comes after the…
VEGOILS - Palm logs weekly gains as traders wait for supply data to provide further clues
Malaysian palm oils traded at a narrow range on Thursday and posted a weekly increase, while traders awaited the Malaysian Palm Oil Board's demand and supply figures next week. The benchmark contract for palm oil delivery in November on the Bursa Derivatives Market gained 7 ringgit or 0.16% to 4…
VEGOILS-Palm slips tracking weaker soyoil prices
Malaysian palm futures fell on Thursday as a result of lower soyoil costs, and also because trade talks between China and the United States were likely to be in focus. At the midday break, the benchmark palm oil contract on Bursa Derivatives exchange…
Slow demand limits palm gains from US tariff exemptions for Indonesia
Malaysian palm futures rose Wednesday, recovering after a two day drop. Supported by the news that U.S. exempted Indonesian oil palm from a tariff of 19%, but sluggish market demand outside China limited gains. At the midday break, the benchmark…
PetroChina's H1 profits down 5.4% from the previous record
PetroChina, China's largest gas and oil company, reported a 5.4% drop in its first-half net profit compared to a record set a year ago, due to lower oil prices. According to a filing at the Hong Kong Stock Exchange, the net profit was 84 billion Yuan ($11.7billion)…
Palm prices fall as demand is threatened by high prices
Malaysian palm futures fell on Monday amid fears that recent high prices may dampen future demand. At the midday break, the benchmark palm oil contract on Bursa Derivatives exchange for delivery in November fell 22 ringgit or 0.49% to 4,507 Ringgit ($1,073.86) per metric ton.
Palm oil rises three weeks in a row on the strength of rival oils
The price of Malaysian palm oils futures rose for the third consecutive week on Friday, as the market recovered from a three day slide. This was helped by the overnight strength in Chicago soybean oil and Dalian edible oils during Asian hours. Strong…
Palm oil posts a weekly gain of more than 5%
Malaysian palm-oil futures closed higher Friday, and recorded a second week of gains after data revealed that exports were up for the period August 1-15. At the close, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange was up 75 Ringgit or 1.7% at $4…
Palm little changed; heading for second weekly gain
The price of Malaysian palm oils futures was little changed on the Friday, but traders are waiting for export data to provide further clues. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange was up 9 Ringgit or 0.2% at 4,412 Ringgit ($1,046.24) per metric ton.
Palm prices rise after China imposes duties on imports of canola from Canada
Malaysian palm futures closed higher Wednesday, continuing gains for a fourth consecutive session. This was due to the strength of the Dalian market fueled by China’s plan to impose an anti-dumping tariff on canola imported from Canada. The benchmark…
Palm on the rise on demand, set to end two-week losing streak
The price of palm oil in Malaysia rose on Friday, and traders expect stronger demand for the product from major markets during August. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for October delivery gained 42 ringgit (0.99%) to 4,282 Ringgit ($1,011.58) per metric ton.
Palm oil prices fall on rising production and stock concerns
Malaysian palm futures declined on Thursday, continuing losses from the previous day, amid concerns about rising inventories and production. Weak export demand also added to the pressure. At midday, the benchmark palm oil contract on Bursa Derivatives…
Russia to Increase Oil Exports After Drone Strikes Shut Refineries
Russia plans to increase exports from its western ports to nearly two million barrels per day in August, about 200,000 bpd more than a previous estimate, after two refineries cut runs following Ukrainian drone attacks, two industry sources said.The…
VEGOILS - Palm oil falls due to sluggish demands; gains in Dalian competitor oils cap losses
Malaysian palm futures declined on Wednesday due to a lack of demand in key markets. However, gains in Dalian soybean oil helped limit losses. At the close, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for October delivery fell 23 ringgit (or 0.54%) to 4…
Palm oil prices rise on bargain-buying and improved export prospects
The price of Malaysian palm oil futures increased on Tuesday, as traders expected improved export figures for the first half-of-August. At midday, the benchmark palm oil contract on Bursa Derivatives exchange for October delivery was up 71 Ringgit or 1.7% at 4,258 Ringgit ($1,007.81).
Palm oil prices slip on concerns about rising production and stocks
Malaysian palm futures ended lower on Monday due to concerns about the increasing stock and production levels. Prices were also impacted by weaker edible oils from Dalian. At the close, the benchmark palm oil contract on Bursa Derivatives exchange for October delivery fell 59 ringgit (1.39%) to 4…
Palm oil prices fall amid concerns about rising production and stocks
Malaysian palm futures declined on Monday due to concerns about the increasing stock and production levels. Prices were also pressured by the weaker Dalian edible oil. At midday, the benchmark palm oil contract on Bursa Derivatives exchange for October delivery fell 70 ringgit or 1.65% to 4…
VEGOILS - Palm slips due to weak edible oils from rivals, increasing production, and sluggish demands
Malaysian palm futures ended a two-session winning streak on Thursday as prices were weighed down by weaker edible oils, and concerns about rising production, sluggish demand for exports, and weaker rivals. At the close, the benchmark palm oil contract…
Palm increases but logs second weekly loss
The price of Malaysian palm oils futures rose on Friday due to a weaker Ringgit and a U.S. tariff reduction on Malaysian goods. However, the contract recorded its second consecutive weekly decline. The benchmark contract for palm oil delivery in…