Industry says that the US dependence on Canadian oil should discourage Trump tariffs
Canada's oil industry doesn't expect tariffs to be included in the protectionist measures proposed by Donald Trump, U.S. president-elect. This is because U.S. refineries depend on Canadian barrels. Some Canadian…
Commodities fall amid increased risks of Trump's second-term: Russell
Commodities have reacted to Donald Trump's election to a second U.S. term with fear, and most are losing ground due to fears that a new trade war will hit the global economy. The negative reaction contrasted sharply with the record-breaking performance of U.S.
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.
Palm prices surge for a fourth day due to lower stocks and possible production drops
Malaysian palm oils jumped by more than 2% in value on Thursday. This was due to expectations that palm production would decline and the national stockpiles would be reduced. The benchmark contract for palm oil…
GAPKI reports that Indonesian palm oil exports in August were up 15% year-on-year.
GAPKI, Indonesia's largest palm oil industry association, said Tuesday that the country's palm oils stock will remain around 2.5 million metric tonnes at end-2024. This is after production was affected last year by dry weather.
Azerbaijan's oil production for 9 months down 4.8%, says ministry
Azerbaijan’s oil production fell by 4.8% in the first nine-month period of 2024 to 21.6 millions metric tonnes, down from 22.7million metric tons one year ago, said Energy Minister Parviz Shabazov on Monday. He didn't explain the cause of the decline.
Palms slide on profit-taking after MPOB data that is bearish
Malaysian palm futures reversed gains made earlier in the week on Thursday, as profit-taking affected the market after the Malaysia Palm Oil Board (MPOB), released its demand and supply statistics. The benchmark…
VEGOILS - Palm up as traders await further cues from the MPOB data
Malaysian palm futures edged higher on Thursday, after two sessions of falling prices. Traders awaited further clues from the Malaysia Palm Oil Board's (MPOB) supply and demand data. At the midday break, the benchmark…
VEGOILS - Palm falls, Chicago soyoil losses and profit-taking
Malaysian palm futures declined on Thursday as investors booked profit and the Chicago soyoil contracts weakness added to the decline. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for December delivery fell 38 ringgit or 0.91% to 4…
Gunvor chair: Mideast conflict will not affect oil supply but demand is a concern
The CEO of trading firm Gunvor is confident that the conflict in the Middle East won't impact oil supply. He said this on Tuesday. He told the Gulf Intelligence Energy Markets Forum, held in Fujairah that the…
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.
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…
Palm oil gains for the third consecutive session and logs a weekly gain
The price of palm oil in Malaysia rose for the third consecutive session on Friday, and also logged a gain over the week, thanks to the strength of rival Dalian contracts. However, lower crude oil prices and concerns about demand capped this rise.
Sources say that the distillation and catalytic cracker units at Venezuela's Amuay Refinery have resumed operations.
Five sources said this week that a catalytic cracker, and two distillation machines, at Venezuela's Amuay Refinery, the largest in the country, had resumed operation following an interruption of power earlier this month.
Exports of palm oil from Indonesia are falling due to a rising local demand and lower production
An industry official said on Thursday that Indonesian palm oil exports will likely decline this year because of increased domestic consumption due to a higher biodiesel blend mandate and a small decrease in production.
The demand for palm oil in Indonesia will increase and the production will decrease by 2024.
An industry official said on Thursday that Indonesian palm oil exports will decline by 2024 because of increased domestic consumption due to a higher biodiesel blend mandate and a small decrease in production.
Russian insurance boosts oil exports to India's top buyer
Data from sources in the shipping and trade industries shows that Russian insurers play a greater role in facilitating oil shipments by Russia to India, which is its largest buyer. This helps to protect Moscow's…
Russian insurance boosts oil exports to India's top buyer
Data from sources in the shipping and trade industries shows that Russian insurers play a greater role in facilitating oil shipments by Russia to India, which is its largest buyer. This helps to protect Moscow's revenue from exports despite Western sanctions.
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…
Palm oil prices rise on China's antidumping probe and the weakening ringgit
The price of Malaysian palm oils futures rose on Tuesday. This was the fourth session in a row that they have gained. This is due to China starting an anti-dumping investigation into canola imported from Canada, and also a weaker ringgit.
