Palm oil closes at its highest level since nearly 3 months, rising for the 6th consecutive session.
The Malaysian palm futures continued to rise for a sixth consecutive session on Wednesday. They closed at their highest level since over two and a half months as the strength of Dalian contracts outweighed profits taken by other oils. The benchmark palm-oil contract…
Dalian oil supports palm gains
The price of Malaysian palm oil futures rose on Wednesday due to the strength in Dalian oils and traders' profits made in rival oils. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for December delivery had risen 27 ringgit (0.68%) to 4,015 Ringgit ($974.51) per metric ton.
VEGOILS - Palm ends the week with a loss. Malaysia data is being eyed
Malaysian palm oil posted a loss for the week on Friday. The market will be expecting next week's data from the Malaysian Palm Oil Board (MPOB). The benchmark palm-oil contract for delivery in November on the Bursa Derivatives Exchange fell 16 ringgit (0.41%) to close at $3,901 ringgit ($901.34) per metric ton.
Palm trades lower and is set to lose money for the week; Malaysia data is eyed
The market expects the Malaysian Palm Oil Board (MPOB) to release its data next week. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange fell 32 ringgit or 0.82% to 3,885 Ringgit ($897.23) per metric tonne. This week, the contract has fallen by 2.31%.
Palm production slips due to low volume and muted expectations
Malaysian palm futures continued to fall for a fourth consecutive session on Thursday, amid lower trading volume and concerns over low production expectations. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for November delivery was down 20 Ringgit or 0.51% at $3…
Palm oil no longer follows rival oils in price, and Indian imports are down.
Malaysian palm oils futures continued to decline for a third consecutive session on Wednesday. This was due to the drop in prices of vegetable oils that compete with palm oil and a decrease in India's imports. The benchmark palm-oil contract for delivery in November…
Palm oil prices fall as rival oils rise, and Indian imports decline.
Malaysian palm futures continued to decline on Wednesday. This was due to a fall in the prices of competing vegetable oils, and a decrease in India's imports of palm oil. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for November delivery was down by 0.97% at 3,893 Ringgit ($895.97).
Palm oil prices end lower due to profit-taking and losses in Dalian contracts
Malaysian palm futures ended Monday lower as investors booked profits and added to the decline. The benchmark palm-oil contract for delivery in November on the Bursa Derivatives Exchange fell 44 ringgit or 1.11% to 3,933 Ringgit ($903.10) per metric ton. A Kuala Lumpur-based broker said…
US CFTC fines energy traders
The U.S. Commodity Futures Trading Commission ordered TOTSA TotalEnergies Trading SA on August 27 to pay a fine of $48 million for alleged gasoline price manipulation. Ian McGinley, CFTC Director of Enforcement, said that the CFTC had "guarded the integrity of…
Palm oil to gain for the first time in three months
The price of palm oil futures in Malaysia rose on Friday, and was set to rise for the first time monthly in three months. This was boosted by higher rival oil contracts. Traders were also waiting on news from Indonesia and India regarding export and import tax.
Gazprom's H1 net profit more than tripled, to $10.9 billion
Gazprom, a gas giant owned by the Kremlin, announced on Thursday that its net income for the first half of this year had more than tripled compared to a year ago. It now stands at more than 10 billion roubles. This is due to increased gas exports as well as cost control.
Palm oil prices continue to fall due to a possible increase in import taxes from India and concerns about demand.
The price of Malaysian palm oils futures fell for the third day in a row on Thursday due to concerns about demand amid the prospect of increased import taxes from India, the largest buyer of vegetable oil. By midday, the benchmark palm oil contract on Bursa Derivatives…
Palm oil's weekly loss is due to a decline in exports, and competition from rival oils.
Malaysian palm futures reversed gains early on Friday, logging a fourth successive weekly loss as weak exports and softer oil contracts from rivals outweighed the supply pressures of top producer Indonesia. The benchmark palm-oil contract for delivery in November on the Bursa Derivatives Market closed 16 ringgit lower…
Palm oil to rise on slower Indonesian production
Malaysian palm futures increased on Friday due to concerns over slow growth in Indonesia, the top producer, but Malaysian exports were weak and capped gains. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for November delivery was up 15 Ringgit or 0.41% at $3,711 ringgit (US$836.75) per metric ton.
Palm oil exports flatten as crude prices rise, despite weaker competitor oils.
Malaysian palm futures were trading within a narrow band on Wednesday, after reaching their lowest level in over seven months. Investors weighed tighter stocks and higher crude oil prices with weaker export data and competing Dalian contracts. By midday, the benchmark…
Oil Trade; Asia Imports more Seaborne Russian oil than Europe
Almost four months after Russia’s invasion of Ukraine, Russian crude oil, Urals, has seen a switch in flow from its traditional market of Europe to Asia. Since the start of the war, based on the average of March to May 2022, Indian imports of Urals crude have picked up by 658% compared to 2021 levels…
U.S. Crude Oil Exports: When 'Less is More'
Longer sailing distances cushion fall in US crude oil exportsTon mile demand generated by US crude oil exports has fallen by 9.7% in the first two months of 2021 compared with the start of 2020. The fall could however have been much worse; In volume terms, seaborne crude oil exports have fallen by 18.8%…
Iran Finds New 53 Bln Barrel Oilfield
Iran has discovered a new oilfield in the southwest of the country that has the potential to boost its reserves by about a third, President Hassan Rouhani said on Sunday."Workers and the exploration arm of the National Iranian Oil Company ...have found an oilfield with 53 billion barrels of reserves…
Iranian Tanker Hit by Missiles, Oil Rises
Oil prices jumped more than 2% on Friday, October 11, 2019, after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants.The Suezmax…
Saudi Minister Commits to Output Cuts
Oil prices rose more than 2% on Monday after the new Saudi energy minister, Prince Abdulaziz bin Salman, confirmed expectations that he would stick with his country's policy of limiting crude output to support prices.Prince Abdulaziz, son of Saudi King Salman and…
