Russian Urals Oil Prices Rise Above Western Price Cap
Russia's Urals crude oil price rose above the $60 per barrel limit imposed by Western nations as the Brent price jumped last week, fuelled by rising tensions in the Middle East, Reuters calculations based on traders' data showed on Monday.Oil prices jumped on Friday…
Russian ESPO Oil Tanker Waits Near China As Demand Weakens
The Big Star, a huge tanker with 2.1 million barrels of Russia's ESPO Blend oil onboard, has been waiting near China in a potential sign of weaker demand for the crude in the region, LSEG data showed and two traders said on Friday.Many state oil companies in China…
Sources say that former Shell oil traders have set up a trading house focusing on Africa.
Two sources familiar with this development say that several former Shell traders have established the trading house Atmin, which is backed by Afreximbank and focuses on African oil trade. This move comes as Western banks and oil majors retreat from Africa. The…
Palm production increases, causing a fourth consecutive session of declines
Malaysian palm futures dropped for the fourth session in a row on Thursday, closing at their lowest level since October 1. This was due to expectations that production would increase. However, strong competition oils prevented further losses. At the close, the…
Maurel & Prom, a French oil company, has seen its sales growth fall due to a drop in revenue from the main fields
Maurel & Prom, a French oil company, reported a sharply reduced first-quarter growth rate on Thursday. Revenues declined in its main oil fields of Gabon, Angola, and Tanzania. The revenue for the quarter ending March 31 dropped by 70% compared to a year ago, falling from $64 million.
Malaysian palm oil rises in second session of strong Dalian oils
Malaysian palm futures rose on Thursday for the second consecutive session, following the strength of the Dalian market as China shifts to purchasing palm oil in response to a trade dispute with Canada. The benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange gained 54 ringgit or 1.27% to 4…
Malaysian palm oil rises in second session with support from rival oil
Malaysian palm futures rose on Thursday for the second time, following strength on the Dalian market as China switched to palm oil in response to a trade dispute with Canada. By midday, the benchmark contract for palm oil delivery in June on Bursa Derivatives Malaysia Exchange had gained 35 ringgit or 0.82% to 4…
US EPA delays Midwest ethanol expansion South Dakota, Ohio
The U.S. Environmental Protection Agency announced on Friday that it will delay by one year the expansion of sales of higher ethanol blended gasoline in South Dakota, Ohio and the other eight Midwestern States who requested increased sales. The EPA released a statement…
Oil trade group calls for national ethanol policy in the US after EPA approves Midwest expansion
The American Petroleum Institute, a trade group, pushed for a national policy on gasoline blends with higher ethanol levels on Monday after President Donald Trump’s administration announced on Friday that it would expand sales of this product in certain Midwestern States. The U.S.
India demands that Russian oil suppliers comply with sanctions
India, the world's No.2 importer of crude oil from Russia, wants to buy Russian oil only if it is supplied by companies and ships that have not been sanctioned by the United States. India, the No. 2 importer from Russia of crude oil, will only buy Russian oil if…
Palm oil falls on Dalian crude oil, weakening it
Malaysian palm futures dropped on Thursday, ending a five session rally. Pressured by lower Dalian oil and lower crude oil prices, sparked by the talks to end Ukraine-Russia's war, they were pushed down by weaker Dalian oil. At midday, the benchmark palm oil contract…
Official Russian energy says US sanctions shouldn't hinder oil trade with India
The latest sanctions by the United States against Russia shouldn't affect the oil trade between Moscow and India, Pavel Sorokin said, Russia's first vice minister of energy, on Tuesday. He added that it is too early to determine the effects. India has become the…
Additional Sanctions Possible for Russian Oil tankers
The Biden administration plans to impose more sanctions on Russia over its war on Ukraine, taking aim at its oil revenues with action against tankers carrying Russian crude, three sources with knowledge of the matter said.President Joe Biden's administration has…
Palm production slips due to low volume and muted expectations
Malaysian palm futures continued to fall for a fourth consecutive session on Thursday, amid lower trading volume and concerns over low production expectations. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for November delivery was down 20 Ringgit or 0.51% at $3…
Palm trades lower and is set to lose money for the week; Malaysia data is eyed
The market expects the Malaysian Palm Oil Board (MPOB) to release its data next week. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange fell 32 ringgit or 0.82% to 3,885 Ringgit ($897.23) per metric tonne. This week, the contract has fallen by 2.31%.
VEGOILS - Palm ends the week with a loss. Malaysia data is being eyed
Malaysian palm oil posted a loss for the week on Friday. The market will be expecting next week's data from the Malaysian Palm Oil Board (MPOB). The benchmark palm-oil contract for delivery in November on the Bursa Derivatives Exchange fell 16 ringgit (0.41%) to close at $3,901 ringgit ($901.34) per metric ton.
Palm oil no longer follows rival oils in price, and Indian imports are down.
Malaysian palm oils futures continued to decline for a third consecutive session on Wednesday. This was due to the drop in prices of vegetable oils that compete with palm oil and a decrease in India's imports. The benchmark palm-oil contract for delivery in November…
Palm oil prices fall as rival oils rise, and Indian imports decline.
Malaysian palm futures continued to decline on Wednesday. This was due to a fall in the prices of competing vegetable oils, and a decrease in India's imports of palm oil. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for November delivery was down by 0.97% at 3,893 Ringgit ($895.97).
Dalian oil supports palm gains
The price of Malaysian palm oil futures rose on Wednesday due to the strength in Dalian oils and traders' profits made in rival oils. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for December delivery had risen 27 ringgit (0.68%) to 4,015 Ringgit ($974.51) per metric ton.
Palm oil closes at its highest level since nearly 3 months, rising for the 6th consecutive session.
The Malaysian palm futures continued to rise for a sixth consecutive session on Wednesday. They closed at their highest level since over two and a half months as the strength of Dalian contracts outweighed profits taken by other oils. The benchmark palm-oil contract…
