Wednesday, January 22, 2025

Oil Market News

Aramco's chief executive expects an additional oil demand of 1,3 million bpd in this year

Amin Nasser, the chief executive of Saudi oil giant Aramco, said that he believes the oil market is healthy and anticipates a demand increase of 1.3 million barrels a day this year. Nasser, speaking on the sidelines at the World Economic Forum, Davos, was answering a question about the impact of U.S.

The oil price is dropping on the plan to increase US oil production, and the tariffs are being re-instated

Oil prices fell in Asian trading Tuesday, after President Donald Trump announced his plan to increase U.S. production of oil and natural gas and delayed the application of new tariffs. Brent crude futures fell 11 cents or 0.14% to $80.04 a barrel at 0156 GMT.

The US sanctions against Russia have caused a spike in global diesel prices

Analysts and LSEG data indicate that global diesel prices and refinery margins increased following the latest round U.S. sanctions against Russia's oil market on the expectation of tightening supplies. On Jan. 10, the United States imposed their…

Palm tracks on Chicago Soyoil Lower as Lack of Fresh Demand Weighs

Malaysian palm oils futures continued to lose on Wednesday as they tracked the weakness of rival soyoil in Chicago, and a lack of new demand. By midday, the benchmark contract for palm oil delivery in March on the Bursa Derivatives exchange had fallen 49 ringgit or 1.1% to 4…

Palm fell due to export concerns and Indonesia's biodiesel plan

Malaysian palm futures fell on Wednesday due to concerns over export demand and the uncertainty surrounding Indonesia's biodiesel mandate. At the close, the benchmark March palm oil contract on Bursa Derivatives Exchange fell 9 ringgit or 0.21% to 4,356 Ringgit ($968.00).

Hess CEO gives upbeat forecast on oil demand, but says Guyana has only scratched the surface of its potential

HOUSTON, January 7 - Hess Chief Executive John Hess said on Tuesday that he believes the oil market is closer to being in balance than it is oversupplied, despite concerns about China's demand and increased production by non-OPEC and U.S. producers.

VEGOILS-Palm closes higher despite weak soyoil, sluggish export demand

The price of palm oil in Malaysia rose on Tuesday after a period of declines. However, weak soyoil and a weakened export demand limited gains. At the close, the benchmark March palm oil contract on Bursa Derivatives Exchange rose 35 ringgit or 0.81% to 4,373 Ringgit ($975.03) per metric ton.

Palm slips due to poor demand in India

The price of Malaysian palm oil futures fell on Monday due to weak demand in India, a key destination market. At the close, the benchmark March palm oil contract on Bursa Derivatives Exchange fell 26 ringgit (0.6%), to 4,342 Ringgit ($963.18) per metric ton.

Palm oil demand in India is low

Malaysian palm futures declined on Monday due to a sluggish Indian demand, which is a key destination. At the midday break, the benchmark March palm oil contract on the Bursa Derivatives exchange in Malaysia shed 30 ringgit or 0.69% to 4,338 Ringgit ($961.86) per metric ton.

After two years of losses, VEGOILS Palm ends the year with a gain of more than 19%

The market closed lower on Tuesday due to lack of new buying at year's end. The benchmark contract for palm oil delivery in March on Bursa Malaysia's Derivatives exchange fell by 107 ringgit or 2.35% to $4444 ringgit (US$994.63) a metric ton. Anilkumar bagani…

Palm oil prices slip on Dalian weakness; market waits for further leads

Malaysian palm oils futures fell on Monday in line with the decline of rival soyoils traded on the Dalian exchange, as the market awaited more triggers during the holiday season. By midday, the benchmark contract for palm oil delivery in March on…

Palm oil prices rise on the back of bargain-buying and strong competition oils

Malaysian palm oils futures rose Friday on the back of bargain-buying and higher rival edible oil prices, but weaker export estimates limited gains. The benchmark contract for palm oil delivery in March on the Bursa Derivatives Exchange rose 82 ringgit or 1.8% to 4,625 Ringgit ($1,035.14) per metric ton.

Palm oil prices drop on the back of heavy sales and a weakening in Dalian palm oil

After the Christmas holiday, Malaysian palm oil futures fell on Thursday due to heavy selling and weakness of Dalian palm olein. At midday, the benchmark March palm oil contract on Bursa Malaysia's Derivatives exchange fell 12 ringgit or 0.26% to 4,546 Ringgit ($1,017.69).

Palm prices fall on profit-taking ahead of the Christmas holidays

The price of palm oil futures in Malaysia fell on Tuesday, as traders booked profits before the Christmas holiday. At midday, the benchmark March palm oil contract on Bursa Derivatives Exchange dropped 28 ringgit or 0.62% to 4,514 Ringgit per metric ton.

Palm rebounds against Dalian soyoil and bargain-buying

After six consecutive sessions of losses, the price of palm oil in Malaysia rose on Monday. This was boosted by higher Dalian soyoil and traders buying cheaper contracts following recent declines. At the close, the benchmark contract for palm oil…

Palm oil rises in line with stronger Dalian soyoil

Malaysian palm futures climbed on Monday, ending a six session losing streak. The rebound in Dalian soybean oil prices, and traders buying cheaper contracts following the recent declines, were behind this rise. By midday, the benchmark contract…

Palm extends its losses and records second weekly loss

Malaysian palm futures closed lower on Friday, and recorded a second weekly loss in a row due to sluggish demand for exports. The benchmark contract for palm oil delivery in March on the Bursa Derivatives Market fell by 74 ringgit or 1.64% to 4,434 Ringgit per metric ton.

Palm oil prices continue to fall amid uncertainty about biofuel policies in Indonesia and the US

Malaysian palm futures fell on Thursday for the fifth consecutive session as market uncertainty over Indonesian biofuel policies and U.S. policy weighed on it. At midday, the benchmark contract for palm oil delivery in March on the Bursa Derivatives exchange fell 44 ringgit or 0.97% to 4…

Palm oil demand falls due to poor demand in key markets

The price of Malaysian palm oils futures dropped for the third session in a row on Tuesday due to a lackluster demand from major destination markets. By midday, the benchmark contract of Bursa Derivatives Exchange fell 67 ringgit or 1.41% to 4,691 Ringgit ($1,055.11) per metric ton.

Palm prices fall for the third consecutive session due to poor demand in key markets

The price of palm oil in Malaysia fell for the third consecutive session on Tuesday due to weak demand from major destination markets. At the close, the benchmark contract of Bursa Malaysia's Derivatives exchange fell 34 ringgit (0.71%) to 4,724 Ringgit ($1,058.01) per metric ton.

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