Malaysian palm oil surpasses rival edible oils
Malaysian palm futures rose on Thursday, erasing the losses of last session, and tracking stronger competing edible oils. Data from the Malaysian Palm Oil Board showed an increase in inventories for March. By midday, the benchmark June palm-oil contract traded on the Bursa Derivatives Exchange in Malaysia gained 65 ringgit or 1.57% to 4,213 Ringgit ($941.87) per metric ton.
Want to reduce your trade surplus with Trump Russell
There are certain trends that will likely emerge amid the chaos and confusion created by U.S. president Donald Trump's global tariff rollout and retreat. One is that countries looking to make a deal will purchase more U.S. products in order to reduce their trade surpluses. Even relative successes like Boeing aircraft highlight the lack of U.S. products that are competitive.
Peru's mining chamber reports a 2-4% increase in copper production this year
Julia Torreblanca, the president of SNMPE, The National Society of Mining, Oil and Energy, has predicted that Peru's output of copper will grow between 2% and 4 % this year. This would place Peru's production of copper between 2.79 and 2.85 millions metric tons compared to the 2.74 million tons produced last year. Torreblanca told a reporter on the sidelines the…
Occidental Petroleum announces higher oil and gas prices in Q1
Occidental Petroleum, a U.S. shale company, said that the prices received by the firm for its oil and gas production in the first quarter of this year were higher than the previous three months. Benchmark Brent crude averaged $74.98 per barrel in the first quarter of 2018, up 1.3% compared to the previous quarter. Meanwhile, U.S. Natural Gas prices increased 30% due to a higher demand because of a cold winter.
Chile views any Trump tariffs against copper as positive
Chile's position at the lower end of U.S. copper tariffs could be advantageous for the world's largest copper-producing nation if U.S. president Donald Trump decides slap tariffs, said Chile Mining Minister Aurora Williams on Wednesday. Trump imposed a 10% tax on Chile last week, but left copper out. The baseline tariff was a percentage that could reach as high as 50 percent for other countries. Since then, the amount has risen to 104% in China.
Oil below $60 puts US producers in a tough position regarding growth and capital returns
Analysts have warned that a drop in oil prices to below $60 per barrel as a result of an intensifying trade war could cause anxiety throughout the U.S. Oil Patch, forcing companies to take additional measures, including reducing share buybacks or capital expenditures. Brent crude and West Texas Intermediate futures (WTI) fell to their lowest levels since February 2021 as tariffs introduced by U.S.
China's petchem plants could be closed as US LPG tariffs loom
Industry insiders say that Chinese petrochemical manufacturers who buy US LPG worth $11 billion annually will cut production or close for maintenance as Beijing's tariffs on U.S. imported products drive up prices. Over 30 PDH plants rely heavily on U.S. LPG or propane for the production of propylene, a plastics intermediate. Armaan Ashraf is the global head of natural gases liquids for consultancy FGE.
Spot prices drop on rising renewable supply
The French spot electricity price for Thursday dropped on Wednesday, as the renewable energy supply was expected to increase and demand to fall in most countries of central Western Europe. French baseload electricity for Thursday fell 10.6% to 81.35 Euros ($89.66 per megawatt-hour (MWh) at 0836 GMT. The French equivalent contract was 36.5% cheaper at 26.25 Euros/MWh.
As U.S. Tariffs take effect, the prices of gas in Europe will fall in line with those on other markets.
The Dutch and British gas price fell on Wednesday in line with the wider sell-offs of equity and commodities markets, as U.S. "reciprocal" tariffs took effect, which has raised fears about a recession. LSEG data shows that the benchmark Dutch front-month contract fell by 1.07 euros, to 34.55 Euros per megawatt hour or $11.11/mmBtu at 0832 GMT. On Monday, the contract reached 33.65 Euros/MWh, its lowest since September 2024.
Wood Mackenzie reduces 5-year US Wind Energy Outlook by 40% due to Trump policies
On Tuesday, a prominent energy research company slashed their five-year forecast for new U.S. Wind Energy Projects by 40%, citing Trump Administration policies and concerns over the economy. Wood Mackenzie predicts that the United States will install 45.1 gigawatts (both onshore and off-shore) of wind power through 2029. The firm had initially forecast 75.8 GW of installations over this period.
Argentina wants to increase lithium production by 75% by 2025 and sees no danger from trade war
The Argentine Chamber of Mining Companies said that Argentina, which is the fifth largest lithium producer in the world, will produce 130,800 metric tonnes of lithium carbonate (LCE) by 2025. This represents a 75 percent increase over 2024. According to Alejandra Cardona of CAEM, the executive director, a major boost in production will come from the expansion of operations in Catamarca…
Canadian oil and Gas CEOs avoid rash decisions during the price crash
On Tuesday, CEOs of Canadian producers of oil and gas said they were trying to avoid taking sudden decisions as the global oil price hovers around four-year lows. Doug Bartole said that his Calgary-based company, InPlay Oil, does not expect to reduce production or capital expenditures in the near future, despite recent oil price drops due to tariffs. Don't take any rash decision.
Lithuanian official: EU could aggregate the demand for US gas in trade negotiations
As part of the negotiations with President Donald Trump, Lithuania's Energy Minister said on Tuesday that the European Union might consider aggregating their member countries' demands to buy U.S. Liquefied Natural Gas in an effort to avoid a trade conflict. Maros SEFCIOVIC, EU Trade Commissioner, said that LNG could be included in negotiations when EU ministers met Monday to discuss the EU's response to Trump’s proposed 20% tariffs on EU goods.
Canadian oil and Gas CEOs avoid rash decisions during the price crash
Two Canadian oil and natural gas producers have said that they want to avoid taking rash decisions as the global oil price hovers around a four-year low and fears of a recession grow. Doug Bartole said that his Calgary-based company, InPlay Oil, does not anticipate reducing its production or capital expenditures in the near future, despite recent oil price drops due to tariffs. Don't take any rash decision.
EUROPE GAS - Prices range as the market weighs tariff impact
The Dutch and British gas price rose slightly on Tuesday and are expected move in the same direction as the market evaluates the impact of U.S. energy tariffs amid concerns that slow global growth may impact demand. LSEG data shows that the benchmark Dutch front-month contract increased by 0.71 euros, or $11.54/mmBtu to 36.28 Euros per megawatt hour. On Monday, the contract reached 33.65 Euros/MWh, its lowest since September 2024.
Indonesia makes trade concessions to the US before talks
Indonesia made a series of concessions to the U.S. on Tuesday. These included reducing taxes on steel and electronic goods, in advance of negotiations with Washington regarding President Donald Trump's tariffs. Next week, the largest economy in South East Asia will send a delegation of high-level officials to the United States to seek a deal that would ease the impact on Wednesday's 32% tariff.
Mexico considers increasing fracking in order to reduce its dependence on US gas.
The Financial Times reported that Mexico had been talking to private companies about increasing its reliance on U.S. natural gas in the face of increased trade tensions between both countries. The imports of natural gas, almost exclusively from the United States (72%) are the main sources of Mexico's total consumption. The FT reported that the discussions are still at a very preliminary stage.
Chinese LNG buyers resell US shipments as tariffs bite
As tit-fortat tariffs increase import costs, Chinese buyers are reselling U.S.-sourced LNG cargoes. This trend will accelerate this month as new multiyear supply agreements kick in and domestic demand is expected to weaken, traders and analysts report. Beijing, which had imposed 15% tariffs for U.S. imports of LNG in early February, imposed reciprocal tariffs beginning on April 10 on all U.S. products, matching the move by U.S.
South Korea's trade minister is considering steps to boost US imports
The South Korean trade minister stated on Tuesday that his government is considering a package of measures designed to increase U.S. exports. He was heading to Washington for negotiations over U.S. Tariffs. Minister Cheong Inkyo said that it was good news for him to hear that Donald Trump, the U.S. president, had said there was no reason why tariff talks with other nations than China could not be held.
Ember reports that renewables will provide 32% of the global electricity by 2024.
A report from the energy think-tank Ember on Tuesday revealed that renewable power generated a record 32% global electricity in 2017. The overall electricity demand increased 4%, driven by heatwaves, data centres, and other factors. Euan Graham, Ember's electricity and data analyst, said that energy security concerns, which are exacerbated by the trade war caused by President Donald Trump’s tariffs on imports from the United States…
