Palm oil prices rise as rival oil prices do.
Malaysian palm futures closed higher Monday as they tracked stronger edible oils and higher crude oil prices. They were also helped by the weaker ringgit. The benchmark palm-oil contract for September delivery at Bursa…
US Gulf Coast Fuel Oil Imports Drops As Heavier Crude Is Preferred
Fuel oil imports into the refinery hub on the U.S. Gulf Coast hit a record low in June as tighter global supplies prompted refiners to run more heavy, sour crude.When refineries run a heavier, sourer crude slate, they produce more heavy residue…
Sources say ADNOC will restore most Murban oil to equity holders by July.
Multiple trade sources reported on Thursday that Abu Dhabi National Oil Company has restored the majority of Murban crude oil supplies going to equity holders for July, after a drastic cut in June. Traders said that partners…
Orlen Will No Longer Purchase Russian Oil Starting July
Polish refiner Orlen will not buy Russian oil for its Czech refinery after June 30, Chief Executive Ireneusz Fafara said on Monday.The contract with Rosneft for Russian oil to be supplied to the Litvinov refinery in the Czech Republic was the last one linking Orlen to R
IEA: World oil demand will continue to grow this decade despite China's peak in 2027
The International Energy Agency (IEA) said that global oil demand will continue to grow until the end of the decade, despite a peak in China, the top importer, in 2027. This is because cheaper gasoline in the United States…
Wall St. drops sharply as Iran strikes back at Israel's attack
Wall Street closed sharply lower Friday, after Iran fired missiles towards Israel in response intensive Israeli strikes designed to cripple Tehran's nuclear weapons-building capability. Israel's military spokesperson…
Commodity Report: Meeting Oil Demand a Challenge if Israel Hits Iran Oil
Oil market participants have switched to dreading a shortage in fuel from focusing on impending oversupply in just two days this week.After Israel attacked Iran and Tehran pledged to retaliate, oil prices jumped as much…
Orban, Orban: EU's plan to ban Russian imports of energy must be stopped
Viktor Orban, the Hungarian prime minister, told state radio that the European Union's plan of banning Russian energy imports should be stopped "by any means". EU executive announced earlier this month that the European…
Sources say that the price of Saudi crude in China will surge after a fall in May.
Saudi Arabian crude oil supplies to China are expected to increase in May compared with the previous month, as the sharp price reduction by the Kingdom has attracted increased demand. A tally of the allocations made to Chinese refiners in May showed that Saudi Aramco…
US EIA warns that tariffs and trade uncertainties will lower oil demand
The U.S. Energy Information Administration's (EIA's) monthly short-term Energy Outlook report on Thursday said that recent developments in global trade policies are expected to reduce global oil and fuel consumption growth through 2026.
Sinopec will prioritise risk management in its Russian oil purchases.
Sinopec Corp, the top Chinese refinery, will prioritize "risk management" when purchasing Russian oil. The quality of Russian oil is comparable to that of competing global supplies and its price is similar, according to a senior executive.
Prices of EUROPE Gas are down due to milder weather.
The wholesale gas prices in the Netherlands and Britain were lower on Thursday morning. This was after a recovery in the previous session. According to LSEG, the Dutch front-month contract fell by 0.53 euros at 43.19 Euros per Megawatt Hour (MWh) as of 0947 GMT.
Chinese Companies Shy Away From Russian Oil
Chinese state oil companies are shying away from Russian oil this month, with two importers halting purchases while two others scaled back volumes as they assess compliance following recent U.S. sanctions on Moscow, multiple…
Palm closes over 3% higher due to stronger rival oils and output concerns
Malaysian palm futures closed more than 3% higher Wednesday. Prices were boosted by the stronger edible oils of rivals and concerns about production. Increased buying in anticipation of an industry conference was also supportive.
Novak: OPEC+ does not consider a delay in April's oil supply increase
RIA reported that Russian Deputy Premier Alexander Novak stated on Monday that OPEC+ producers do not plan to delay a series monthly increases in oil supplies scheduled to start in April. Bloomberg News reported Monday…
In the shadow of tariffs, Europe's markets can benefit from a ceasefire in Ukraine
The markets have bet that a ceasefire agreement between Russia and Ukraine will ease the pressure on energy and euro prices, and also reduce the impact of increased U.S. tensions. Meanwhile, expectations about defence…
The IEA reports that Russia's oil exports increased to $15.8 Billion in January.
The International Energy Agency reported on Thursday that Russia's commercial revenue from crude oil and oil product sales in January increased by $900 millions from December, to $15.8 Billion, due to the higher oil prices, and stable export volume, despite sanctions.
Oil prices fall as Trump reiterates his call for OPEC price cuts
Oil prices fell on Monday, after U.S. president Trump asked OPEC for a reduction in prices in response to his announcement that he would take a wide range of measures to increase U.S. oil production and gas output during his first week as president.
Guyana exports 225 crude cargoes by 2024
Guyana will export 225 cargoes in crude oil by 2024, said its energy minister on Tuesday. A consortium led the U.S. giant Exxon Mobil has been ramping up its production and updating its facilities. Last year, Latin America's…
British Business - January 7
These are the most popular stories in the British business pages. These stories have not been verified and we cannot vouch their accuracy. Rachel Reeves will lead a ministerial delegation to the World Economic Forum in Davos…
