Thursday, November 14, 2024

Oil Market News

Palm falls for the third consecutive day due to weaker competitors and selling pressure

Malaysian palm futures fell for the third session in a row on Thursday. This was due to the weakness of prices in rival vegetable oils listed in Dalian and pressure from sellers in crude palm (CPO). By midday, the benchmark contract for palm oil…

Palm oil suffers heavy losses in Dalian competitors oils

The prices of vegetable oils rivals in Dalian have been falling heavily, which has led to a fall in the palm oil futures in Malaysia for a second consecutive session. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery had fallen 114 ringgit or 2.27% to 4…

Dalian palm oil is supported by other oils

The Dalian palm oil market, which is a rival to the Malaysian palm oils market, has seen gains on Thursday. On the closing, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for January delivery gained 33 ringgit (0.67%) to 4,950 Ringgit ($1,125.00).

Vitol: China remains the main driver of global oil demand despite energy transformation

The global head of Vitol’s research department said that China will continue to play a major role in the global oil market because it is focused on petrochemicals, even though fuel consumption for road transport in China peaks during energy transition. The No. The world's No.

Palm oil ends the day higher than rival oils as market focuses on key data

Malaysian palm oil futures closed Monday after rival vegetable oils. The market is waiting for data from the Malaysian Palm Oil Board and export figures. On the closing, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery gained 23 ringgit (0.47%) to 4…

VEGOILS - Palm closes 3% more, reaches highest level in nearly two and half years

Malaysian palm futures rose more than 3% Friday, the highest level in nearly two-and-a-half years, in response to higher soyoil, crude oil, and positive estimates for domestic exports. The benchmark contract for palm oil delivery in January on the Bursa Derivatives Exchange rose 169 ringgit or 3.6% to 4…

Palm prices rise despite profit-taking and premium concerns

Malaysian palm futures rose for the second session in a row on Wednesday, despite profit taking pressure and fears that a wider premium over competing oils could dampen demand. The benchmark contract for palm oil delivery in January on the Bursa Derivatives Exchange rose 58 ringgit or 1.25% to 4…

Palm gains due to low inventories and expectations of low output

The price of Malaysian palm oil futures increased on Tuesday due to expectations that palm production will be reduced and inventories will decrease. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery gained 20 ringgit or 0.44% to 4…

Palm trades in a sideways manner; weak Ringgit and technical buying limits losses

Technical buying and the weaker ringgit helped limit its losses. At the close, the benchmark contract for palm oil delivery in January on Bursa Derivatives Exchange dropped 6 ringgit or 0.13% to 4,530 Ringgit ($1,039.47). The contract fell 1.59% in two consecutive sessions.

Palm prices fall as India avoids premium prices but still has the best week for 16 months.

Malaysian palm futures ended lower on Friday, but still recorded its highest weekly gain since more than 16-months, as India pulled away from buying amid an increasing premium over soft oils. Fund positions are largely driving the current prices.

Palm prices fall as India rejects premium prices and funds drive the market

Malaysian palm futures declined on Friday, but were still on track to have their best week in over 16 months. India pulled back from purchasing due to a growing premium for soft oils. Fund positions are driving the current prices. During the midday break…

Palm oil increases by more than 2% compared to rival oils

The price of palm oil in Malaysia rose by more than 2% Tuesday due to the strength of rival oils. The benchmark contract for palm oil delivery in January on the Bursa Derivatives Exchange rose 88 ringgit or 2.05% to 4,387 Ringgit ($1,014.34) per metric ton.

VEGOILS - Boost exports on the back of positive estimates and weak output

Malaysian palm oil futures ended up higher on Monday after two sessions of losses. Supported by higher export estimates, and expected seasonal palm production decreases, the prices rose. The benchmark contract for palm oil delivery in January on…

Palm gains from better export estimates and expectations of low output

After two sessions of declines, Malaysian palm oil futures eked out a slight gain on Monday, backed by increased export estimates and expected seasonal palm production decreases. The benchmark contract for palm oil delivery in January on the Bursa Derivatives exchange gained 49 ringgit or 1.15% to 4…

Export data for Malaysia 2025 shows palm oil prices falling on the back of profit-taking.

Profit-taking led to a reversal of gains in the Malaysian palm oil futures on Friday, although traders are expecting the market to be supported by the announcement of the Malaysian budget for 2025 and the export data. The benchmark contract for…

Palm oil prices fall due to mix-trading in rival oils

Malaysian palm futures fell on Thursday, after a previous session that saw them rise. This was due to mixed trading of rival oils. The benchmark contract for palm oil delivery in January on Bursa Derivatives Exchange dropped 34 ringgit or 0.79% to 4,277 Ringgit ($993.03), a metric tonne, at the close.

Palm prices weighed down overnight by weakness in Chicago crude and soyoil prices

Malaysian palm futures fell on Thursday due to a drop in crude and soyoil prices overnight in Chicago. However, Dalian oils were stronger, which supported the market. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery fell 19 ringgit or 0.44% to 4…

Palm snaps two-day loss streak due to short-term supply and demand outlook

Malaysian palm-oil futures rose on Wednesday, ending a two-day loss streak. This was due to the expected supply outlook next year, and short-term demand. The benchmark contract for palm oil delivery in January on the Bursa Derivatives exchange gained 74 Ringgit or 1.75 % to 4…

Palm oil continues to decline against weaker competitors; export data cap losses

The price of Malaysian palm oils futures dropped for the second session in a row on Tuesday. This was due to the weakness of rival edible oil and crude oil, but robust export data helped limit this fall. The benchmark palm-oil contract for December…

Palm gains on short-term supply, but much-anticipated first-quarter outlook

After two sessions of declining prices, Malaysian palm futures rose Wednesday on the back of an expected increase in supply for next year, and on short-term demand. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery gained 75 ringgit or 1.77% to 4…