After Trump's threats to attack Iran, the price of oil in the near-term has reached a record high compared with later deliveries.
U.S. crude futures for immediate next-month delivery hit their highest-ever premium on Thursday as traders scrambled to secure barrels following Donald Trump's pledge to?continue?attacking Iran. Backwardation, or the trading of immediate delivery barrels…
Palm prices rise on Mideast unrest and weak supply outlook
Malaysian palm futures rose a day after falling in the previous session. This was boosted by the uncertainty surrounding the Middle East conflict and the expectation of a fall in March's output. The benchmark palm oil contract on Bursa Derivatives Exchange for June delivery gained 25 ringgit or 0.52% to 4…
Sources say that OPEC+ is likely to increase oil production on Sunday.
Two OPEC+ source said that OPEC+ will likely consider a new oil production increase at their meeting on Sunday. This would allow key producers to 'add more barrels' if the Strait of Hormuz reopens, the world’s most important oil route which is currently closed by the U.S./Israeli war against Iran.
EUROPE GAS-European Gas Prices Rise as Hopes Fade on Quick End to Iran War
Standard Dutch and British wholesale prices for gas rose on Thursday morning, after U.S. president Donald Trump pledged'more aggressive strikes against Iran, without committing to any specific timeline to end the war, worrying investors who were worried about 'prolonged disruptions to global supply.
Fears of a prolonged Middle East conflict has caused most Gulf stocks to retreat.
The major Gulf stock markets dropped in the early hours of trading on Thursday, after Donald Trump said that the U.S. will continue to attack?Iran without indicating a definite end date. In a late-night prime-time speech, Trump stated that the U.S.
Palm prices rise on Mideast unrest and weak supply outlook
Malaysian palm oil futures rose more than 1% after the previous session. Prices were supported by the uncertainty surrounding the Middle East conflict and expectations of a drop in March production. By midday, the benchmark contract for palm oil delivery…
Gas prices in Europe fall after Trump announces US withdrawal from Iran War
The benchmark Dutch and British wholesale gasoline prices dropped 'on Wednesday afternoon, after U.S. president Donald Trump said the United States would end their war against Iran 'fairly soon. But could return for "spot strikes" if necessary. ICE…
Palm oil futures decline despite Indonesian biodiesel drive
Malaysian palm futures declined on Wednesday. This was a reversal of?course following four consecutive sessions of gains. The benchmark palm oil contract for June delivery at the?Bursa Derivatives exchange shed 60 ringgit or 1.24% to 4,768 Ringgit ($1,184.89).
Gas prices in Europe fall amid hopes that the Iran war will end soon
The benchmark Dutch and British wholesale gasoline prices dropped on Wednesday morning, based on the hope that the Middle East conflict would soon be resolved following the comments of U.S. president Donald?Trump. ICE data shows that the benchmark Dutch…
Sources say that Addison is retiring as the architect of the US-Venezuela trade deal.
John Addison is Vitol’s top U.S. gas trader. He helped his firm secure a deal this year for the first Venezuelan oil exports following Nicolas Maduro’s capture by U.S. troops. Four sources said on Tuesday that Addison plans to retire from the world’s largest commodities trading house at the age of 47.
US gas prices reach $4 per gallon due to the Iran war which has wreaked havoc on energy supplies worldwide
The U.S. average gas prices rose to $4 per gallon for the first time since more than three years on Monday, according to data from the price tracking service, GasBuddy. This was the largest monthly increase in decades. Last August 2022, after the Russian invasion of Ukraine, was when we reached $4 per gallon.
Trump warns Iran again to open Strait of Hormuz
President Donald Trump stated on Monday that the United States is in talks with "a more reasonable regime" about 'ending the war' in 'Iran. He also repeated his warnings to Tehran, saying it must open the Strait of Hormuz to avoid U.S. attacks on its power plants and oil wells.
Egypt's Sisi warns that oil prices could reach $200 and says that only Trump can end war.
Abdel Fattah al-Sisi, Egypt's president, called on U.S. President Donald Trump to end the Iran War, saying that only he was capable of doing so. He also warned that fears about the oil price going above $200 per barrel were not exaggerated. Sisi told…
Palm futures post fourth consecutive weekly gain
After losses earlier in week, Malaysian palm futures posted a fourth weekly gain. A softer ringgit helped support the market. However, uncertainty about the Middle East war and crude oil outlook capped gains. At close, the benchmark June palm oil contract…
EUROPE GAS - European gas prices rise on the back of oil gains and low stock levels
The benchmark British and Dutch wholesale gasoline prices rose on Friday morning. This followed a rise in oil prices despite the fact that U.S. president Donald Trump had extended a pause to attacks against Iran's energy plants. The benchmark 'Dutch…
Palm vegoils gains on weakening ringgit but is set to end its three-week rally
Malaysian palm oil futures rose on Friday due to a weaker ringgit. However, they are on course for their first weekly decline in four weeks, as a result of uncertainty over the Middle East war and crude oil outlook. By midday, the benchmark palm oil…
Iran is open to Spain's request for transit through Hormuz
The Iranian Embassy in Spain announced 'on Thursday' that Iran would accept any request made by Madrid in relation to the Strait of Hormuz, because Spain "respects" international law. This is the first time such a concession has been offered to a member state of the EU.
Trump will announce measures to assist US farmers on Friday
Donald Trump said on Thursday that his administration will announce "actions to assist U.S. farmers" on Friday as the White House prepares for an event to highlight the agricultural sector. The move is made as the Administration prepares to release…
The UK has reopened its domestic CO2 plant in response to the threat of war with Iran.
The UK announced on Thursday that it would spend 100 million pounds ($133.5?million?) to restart the production of biogenic CO2 at a closed plant in Teesside, for a period of three months. This is to avoid any shortages resulting from the Iran War.
India plans to reduce emissions intensity by 47 percent by 2035 compared to 2005 levels
Ashwini Vashnaw, India's Information Minister, said that the cabinet had?approved an objective to reduce emissions intensity by 47% from 2005 levels by 2035 as part of India's formal climate pledges under?the Paris Agreement. The intensity of emissions…