Palm oil surpasses Dalian rivals in price
Malaysian palm oils futures rose on Wednesday, after two sessions of falls. They followed gains in Dalian vegetable oil, and 'expectations that Malaysian palm stocks would decline by 'end-January' added support. The benchmark April palm oil contract on the Bursa Derivatives exchange gained 7 ringgit or 0.17% to 4,222 Ringgit ($1,074.57) per metric ton. A Kuala Lumpur-based trader said, "Crude Palm Oil Future is tracking Dalian's movement while waiting for fresh leads at the Palm Oil…
Palm oil catches up with Dalian rivals, but stronger ringgit limits gains
Malaysian palm futures rose on Wednesday, after two straight sessions of declines. Gains in Dalian vegetable oils outweighed pressure from the stronger ringgit and?weakness Chicago soyoil. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for April delivery had gained 5 ringgit (0.12%) to 4,220 Ringgit ($1,075.16) per metric ton. Dalian's palm oil contract grew 0.33%, whereas the most active soyoil contract gained 0.25 %. Chicago Board of Trade soyoil prices were down 0.18%.
Palm oil falls to second session of lower Dalian prices
The price of Malaysian palm oils futures continued to fall on Tuesday, as trading resumed following a long weekend. This was due to the decline in Dalian edible oils. However, strong export data helped limit losses. The benchmark 'palm oil' contract for April delivery at the Bursa Derivatives exchange was down 16 Ringgit (0.38%) at $4,213 Ringgit ($1,072.01) per metric ton. In January, the contract rose by 4.42%, marking its first gain in five month. Today's export data and SPPOMA production figures?continued to show positive trends, which helped offset the downside.
Oil Prices Rise on U.S.-Iran Tensions
Oil prices steadied on Wednesday after rising earlier in the session after the U.S. shot down an Iranian drone and armed Iranian boats approached a U.S.-flagged vessel, rekindling fears of an escalation in tensions ahead of planned talks.But a broader selloff of software equities, which often move in tandem with oil prices, capped gains.Brent crude oil futures were up around 0.1% at $67.38 a barrel by 1423 GMT. U.S. West Texas Intermediate crude was down 2 cents at $63.19.Both benchmarks…
Palm oil falls to second session of lower Dalian prices
The Malaysian palm futures continued to lose money on Tuesday, as trading resumed following a long weekend. This was due to the decline in edible oils from Dalian. By midday, the benchmark palm oil contract for?April delivery at the Bursa Derivatives exchange was down 32 Ringgit or 0.76% to 4,197 Ringgit ($1,066.31) per metric tonne. In January, the contract gained 4.42%, its first gain in five month. A Kuala Lumpur trader stated that "Palm Oil Futures opened lower due to?spread adjustment against weaker competitor oilseeds".
Trump announces India will purchase oil from Venezuela
U.S. president Donald Trump said on Saturday that India would buy Venezuelan crude oil to help replace some of the Russian oil it buys, the third largest oil importer in the world. Trump said to reporters on Air Force One, as he flew from Washington to his Florida vacation home, "We have already made that deal. Three people with knowledge of the issue said that on Friday, the United States told Delhi they could resume purchasing Venezuelan oil soon to replace Russian oil imports.
Shipping data shows that Indian diesel exports to West Africa have increased as a result of the EU's ban on Russian crude-derived fuel.
Shipping data from Kpler & Vortexa revealed that India stopped exporting Diesel to the European Union in this month because of the EU's 'ban' on fuels derived from Russian crude. Turkey's exports of diesel to the EU have slowed down over the past few months. These developments show that the EU's policy to punish Russia for its full-scale invasion in Ukraine 2022 is causing a reordering of oil flows between continents. This forces India's refineries to find new markets, and disrupts Turkey's lucrative fuel trade with the EU.
Canada wants to increase energy trade with India says energy minister
Canada's Energy Minister Tim Hodgson stated on Tuesday that the country is considering boosting its energy?exports in India to diversify its client base and reduce its dependence?on??supply from the United States. Hodgson said at the Indian Energy Week that exporting 98% to the United States is a "strategic? blunder" and saw an opportunity for India to work with him. India will have the fastest growing energy demand in the world, according to Hodgson, who added that Canada could provide crude oil, natural gas liquefied and uranium.
Russian Urals Oil Trades at Close to Widest Discounts Since 2022
Russian February Urals crude oil cargoes traded at close to the widest discounts against dated Brent in Indian ports since 2022 amid intensified pressure from Western sanctions, two sources said.Urals oil cargoes to be supplied in February traded at discounts of $10 per barrel to dated Brent for delivery in Indian ports, a $3-5 per barrel increase from estimates for cargoes loading in the autumn months last year and close to the widest discount on record, the two sources said.Late in 2025 the U.S. imposed its toughest sanctions on Russia's energy sector, targeting oil majors Lukoil and Rosneft.
Palm climbs on stronger oil rivals, signs of export recovery
Malaysian palm oils futures rose by more than 1% Wednesday after falling the previous session. This was due to stronger competitor oils and improved export demand from India and China. At midday, the benchmark palm oil contract for?March delivery at the Bursa Derivatives exchange gained 43 ringgit or 1.06% to 4,107 Ringgit ($1,013.32) per metric ton. Paramalingam Supramaniam is the director of Selangor brokerage Pelindung Bestari. Supramaniam said that January exports are picking up steam with positive figures for the first 10 of the month and expectations for the first 15 days to be positive.
Nigeria invests $2 billion to support energy transition
Nigeria's energy transition is being driven by green finance. The president announced plans on Tuesday for a $2 billion climate fund, saying that the oversubscribed green bond was proof of investor interest. Bola Tinubu, speaking at the Abu Dhabi Sustainability Week Summit, said that Nigeria's Climate Investment Platform was aiming to mobilize $500 million to build climate-resilient structures, and the National Climate Change Fund aims to raise $2 billion to fund?projects to reduce emissions and increase resilience.
Palm prices are little changed, traders say
Malaysian palm futures were mostly flat on Monday, as traders assessed the demand and supply data from the palm oil board. By midday, the benchmark palm 'oil contract on the Bursa Malaysia Derivatives Exchange for March delivery had gained 3 ringgit (0.07%) to 4,039 Ringgit ($993.85) per metric ton. The contract dropped 0.17% during the previous session. David Ng is a proprietary trader with Kuala Lumpur based trading firm Iceberg X Sdn Bhd. He said that the market (slightly higher) during Asian hours was due to traders reviewing data from the Malaysian 'Palm Oil Board.
Sources say that Chevron Vitol Trafigura are all competing to control Venezuelan oil imports.
Sources familiar with the situation say that Chevron, Vitol, Trafigura and other companies are competing to get deals from the U.S. Government to export crude oil from Venezuela. Venezuelan officials are trying to control oil sales in the United States. This competition is a reflection of the desire for many oil companies to gain access to Venezuela's crude oil stocks and production. Donald Trump, the U.S. president, has demanded Venezuela grant the United States access to the oil sector. This comes just days after the U.S. seized the South American nation's President Nicolas Maduro. U.S.
Palm oil falls on stronger Ringgit, but rivals make up losses
The price of Malaysian palm oil futures fell on Tuesday, as the strength in edible oils at the Dalian commodity exchange was outweighed by the firmer ringgit. Meanwhile, market participants were awaiting data from the Palm Oil Board that will be released next week. The benchmark contract for palm oil delivery in March on the Bursa Derivatives exchange lost 22 ringgit or 0.55% to close at 3,992 Ringgit ($987.14) per metric ton. A Kuala Lumpur based trader stated that "Today's CPO Future is tracking Dalian performance and the?ringgit while waiting for the 12th January MPOB Report"…
Palm oil falls on stronger Ringgit, but rivals make up losses
Malaysian palm futures fell on Tuesday, as the weaker ringgit overshadowed 'the strength of rival edible oils from Dalian and Chicago. Market participants were waiting for further information to be released by the Malaysian Palm Oil Board next week. By midday, the benchmark March palm oil contract on the Bursa Derivatives Exchange had fallen 14 ringgit or 0.35% to 4,000 Ringgit ($987.41). In the morning, the contract was traded within a narrow range of?3,997-4.034 ringgits per ton.
US oil companies benefit after Trump signals access Venezuelan reserves
U.S. Oil Companies' Shares jumped Monday fueled by the prospect that the U.S. could gain access to Venezuela's vast reserves of oil after President Donald Trump announced that the U.S. was taking control of Venezuela following the arrest of their president. Venezuela has the largest oil reserves in the world, but its production has plummeted over the past decades because of?mismanagement?, a lack of foreign investment after the nationalization and sanctions on the oil industry. Trump stated on Saturday that the U.S.
Palm gains muted by firmer Ringgit, despite crude gains
Malaysian palm futures were flat on Wednesday, as the 'ringgit strengthened and weighed down on the market. However, the pressure from the stronger currency was offset by the higher crude oil price. At the close, the benchmark contract for?palm?oil delivery in March on the Bursa Derivatives exchange fell 1 ringgit or 0.02% to 4,035 Ringgit ($998.02) per metric ton. The contract has risen 3.35% over the last two sessions. A Kuala Lumpur based?trader said that the palm?oil was slightly lower due to a stronger Ringgit.
Palm oil prices remain stable as ringgit and rival oil are firmer.
Malaysian palm futures were little altered on Wednesday, ahead of the Christmas holidays. A strong ringgit offset higher soyoil prices and crude oil. At the midday break, the benchmark palm oil contract on the Bursa Derivatives exchange for delivery in?March? fell 3 ringgit or 0.07% to 4,033 Ringgit ($994.57) per metric ton. The contract has risen 3.35% over the last two sessions. A trader based in Kuala Lumpur said that the palm oil market had a marginally lower price due to a stronger Ringgit. Palm's trade currency, the ringgit, rose 0.12% in value against the dollar.
Russell: Despite Trump's trade moves, the US imports to Asia will drop by 2025.
Asia's imports from the United States of crude oil, coal, and liquefied gas are expected to decrease this year in spite of President Donald Trump’s efforts?to increase shipments through his trade and tariff policy. China is the main driver of the decline in US imports. China, as the world's largest buyer of commodities, has slowed down its purchases since Trump increased tariffs on U.S. imported Chinese goods, with an average rate of around 47.5%. According to commodity analysts Kpler…
Russell: Despite Trump's trade moves, the US imports to Asia will drop by 2025.
The U.S. trade policies of President Donald Trump, which include tariffs and increased shipments of crude oil and coal to Asia are expected to lead to a decline in imports this year. The drop in US imports is mostly due to?China. As the largest buyer of commodities worldwide, China has slowed down its purchases since Trump increased tariffs on U.S. imported?Chinese?goods. According to commodity analysts Kpler, Asia's crude oil imports are expected to drop to 1.43 million barrels a day (bpd), down from 1.56million bpd and the record 1,65million bpd of 2023. South Korea is the largest importer.