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Malaysia's palm oil stocks fall 6.32 per cent in October Malaysia, the world's second-largest palm oil producer, saw its palm oil stocks fall 6.32 per cent from the previous month to 1.88 million tonnes at the end of October, official data showed Monday. According to the country's industry regulator Malaysian Palm Oil Board, the country's crude palm oil production slipped 1.35 per cent month on month to 1.8 million tonnes during the month. The country's palm oil exports, however, rose 11.07 pe rcent month on month to 1.73 mill...
Malaysia's palm oil stocks fall 6.32 per cent in October
Malaysia's palm oil stocks fall 6.32 per cent in October
Source: IANS
2024-11-12 10:10:06 am
US oil drilling costs may reach $67-$70 per barrel by 2026 under Donald Trump he Donald Trump presidency in the US could have a significant impact on the oil market, with potential growth largely dictated by price, according to a report on Monday.  Additional US oil production means a well drilling cost requirement of $64 per barrel. Going forward, in a couple of years, these costs could scale up to the $67 and $70 range as per the forward prices, according to the report by Ventura Securities. The new US administration's push for increased US oil product...
US oil drilling costs may reach $67-$70 per barrel by 2026 under Donald Trump
US oil drilling costs may reach $67-$70 per barrel by 2026 under Donald Trump
Source: IANS
2024-11-12 09:14:16 am
Oil falls as Chinese demand concerns overshadow Libyan export halt Brent oil prices retreated by more than 2% on Tuesday as sluggish economic growth in China, the world's biggest crude importer, intensified demand concerns that overshadowed the impact of halted production and exports from Libya. Brent crude futures fell by $1.66, or 2.1%, to $75.86 a barrel by 1200 GMT. West Texas Intermediate crude futures, which did not settle on Monday because of the U.S. Labour Day holiday, were down $1.07, or 1.5%, at $72.48. "The weaker than expected ...
Oil falls as Chinese demand concerns overshadow Libyan export halt
Oil falls as Chinese demand concerns overshadow Libyan export halt
Source: Reuters
2024-09-03 08:57:43 am
India and China top buyers of Russian fuel oil in May, LSEG data shows India and China were the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in May, traders said and LSEG data showed. Russian fuel oil and VGO seaborne exports last month rose 12% from April to about 4 million metric tons, helped by completion of seasonal maintenance. The European Union's full embargo on Russian oil products went into effect in February 2023 and the bulk of Russia's fuel oil and VGO was redirected to other regions, mostly Asia. In...
India and China top buyers of Russian fuel oil in May, LSEG data shows
India and China top buyers of Russian fuel oil in May, LSEG data shows
Source: Reuters
2024-06-25 06:18:26 pm
Oil steadies, heads for weekly drop on U.S. economy worries Oil prices edged up in early trade on Friday on the prospect of OPEC+ continuing output cuts, but the crude benchmarks were headed for weekly losses on U.S. economic uncertainty and limited crude supply disruptions caused by the Israel-Hamas war. Brent crude futures for July rose 16 cents to $83.83 a barrel by 0008 GMT. U.S. West Texas Intermediate crude for June was up 19 cents to $79.14 per barrel. Still, both benchmarks were on track for weekly losses as investors worried about the p...
Oil steadies, heads for weekly drop on U.S. economy worries
Oil steadies, heads for weekly drop on U.S. economy worries
Source: Reuters
2024-05-03 09:23:42 am
Oil eases as US demand concerns outweigh fears over Middle East conflicts Oil prices eased in early trade on Thursday as concerns about a potential slowdown in the U.S. economy amid prospects for delayed interest rate cuts outweighed worries over the risk of expanding conflict in the Middle East. Brent crude futures dipped 9 cents, or 0.1%, to $86.95 a barrel at 0024 GMT, and U.S. West Texas Intermediate crude futures slipped 7 cents, or 0.1%, to $82.74 a barrel. Both benchmarks lost less than 1% on Wednesday. "Tensions between Iran and Israel have eased...
Oil eases as US demand concerns outweigh fears over Middle East conflicts
Oil eases as US demand concerns outweigh fears over Middle East conflicts
Source: Reuters
2024-04-25 08:57:05 am
Oil prices inch up after data shows unexpected drop in U.S. crude stocks Oil prices rose in early trade on Wednesday, adding to gains in the previous session, after industry data showed a surprise drop in U.S. crude stocks last week, a positive sign for demand, and attention shifted away from hostilities in the Middle East. Brent crude futures rose 9 cents, or 0.1%, to $88.51 a barrel and U.S. West Texas Intermediate crude futures gained 10 cents, or 0.11%, to $83.45 a barrel at 0031 GMT. U.S. crude inventories fell 3.237 million barrels in the week ended Ap...
Oil prices inch up after data shows unexpected drop in U.S. crude stocks
Oil prices inch up after data shows unexpected drop in U.S. crude stocks
Source: Reuters
2024-04-24 09:07:38 am
Oil steadies in Asian trading, Middle East tensions remain in focus Oil prices steadied in Asian trading on Tuesday, after falling in the previous session, as investors continued to assess the risk from geopolitical concerns in the Middle East. Global benchmark Brent crude oil futures traded 4 cents higher at $87.39 a barrel by 0153 GMT, and U.S. West Texas Intermediate crude futures also gained 4 cents to $81.94 a barrel. Both benchmarks fell 29 cents in the previous session on signs that a recent escalation of tensions between Israel and Iran had litt...
Oil steadies in Asian trading, Middle East tensions remain in focus
Oil steadies in Asian trading, Middle East tensions remain in focus
Source: Reuters
2024-04-23 08:52:47 am
Oil prices retreat as US crude build, rate cut concerns come to the fore Oil prices fell at Asia's open on Monday, dragged down by a renewed focus on market fundamentals, as Israel and Iran played down the risks of an escalation of hostilities in the Middle East after Israel's apparently small strike on Iran. Brent futures fell 54 cents, or 0.6%, to $86.75 a barrel by 1218 GMT. The front month U.S. West Texas Intermediate (WTI) crude contract for May, which expires on Monday, fell 12 cents to $83.02 a barrel. The more active June contract dropped 47 ...
Oil prices retreat as US crude build, rate cut concerns come to the fore
Oil prices retreat as US crude build, rate cut concerns come to the fore
Source: Reuters
2024-04-22 08:45:02 am
Oil prices surge 3% on reports of Israeli strikes on Iran Oil prices jumped $3 a barrel on Friday in reaction to reports that Israeli missiles had struck a site in Iran, sparking concerns that Middle East oil supply could be disrupted. The benchmark contracts surged more than $3 then eased slightly. At 0200 GMT, Brent futures were up $2.63, or 3%, to $89.74 a barrel. The most active U.S. West Texas Intermediate contract climbed $2.56, or 3.1%, to $84.66 per barrel. U.S. news outlet ABC News cited a U.S. official as saying that Israeli missiles...
Oil prices surge 3% on reports of Israeli strikes on Iran
Oil prices surge 3% on reports of Israeli strikes on Iran
Source: Reuters
2024-04-19 08:52:14 am
Oil inches up after U.S. reimposes Venezuela oil sanctions  Oil prices rose in early trade on Thursday, slightly paring the previous session's losses after the United States said it would reinstate oil sanctions Venezuela, while the European Union talked of fresh curbs on Iran. Brent futures were up 10 cents, or 0.11%, at $87.39 a barrel, while U.S. crude futures traded 2 cents higher at $82.71 a barrel at 0053 GMT. The two benchmarks slid 3% in the previous session on demand worries. The U.S. said it would not renew a license set to e...
Oil inches up after U.S. reimposes Venezuela oil sanctions
Oil inches up after U.S. reimposes Venezuela oil sanctions
Source: Reuters
2024-04-18 08:56:31 am
Oil prices dip as demand concerns outweigh Middle East supply fears Oil prices extended losses in early trade on Wednesday as worries about global demand due to weak economic momentum in China and a likely rise in U.S. commercial stockpiles outweighed supply fears from heightened tensions in the Middle East. Brent futures for June slipped 56 cents, or 0.62%, to $89.46 a barrel by 0337 GMT, while U.S. crude futures for May fell 63 cents, or 0.74%, to $84.73 a barrel. Oil prices have softened so far this week as economic headwinds pressured investor senti...
Oil prices dip as demand concerns outweigh Middle East supply fears
Oil prices dip as demand concerns outweigh Middle East supply fears
Source: Reuters
2024-04-17 09:31:58 am
Oil prices rise as Israel weighs response to Iran attack Oil prices rose on Tuesday amid heightened tensions in the Middle East after Israel's military chief said his country would respond to Iran's weekend missile and drone attack amid calls for restraint by allies. Brent futures for June delivery rose 46 cents, or 0.5%, to $90.56 a barrel by 0005 GMT. U.S. crude futures for May delivery rose 43 cents, or 0.5%, to $85.84 a barrel. Oil prices had ended Monday's session lower after Iran's weekend attack on Israel proved to be l...
Oil prices rise as Israel weighs response to Iran attack
Oil prices rise as Israel weighs response to Iran attack
Source: Reuters
2024-04-16 08:49:40 am
Oil prices fall after Iran attack as market draws down risk premium Oil prices fell during trade on Monday, as market participants dialled back risk premiums following Iran's attack on Israel late on Saturday which the Israeli government said caused limited damage. Brent futures for June delivery fell 20 cents, or 0.2%, to $90.25 a barrel while West Texas Intermediate (WTI) futures for May delivery were down 33 cents, or 0.4%, at $85.33 a barrel by 0225 GMT. The attack involving more than 300 missiles and drones was the first on Israel from another ...
Oil prices fall after Iran attack as market draws down risk premium
Oil prices fall after Iran attack as market draws down risk premium
Source: Reuters
2024-04-15 08:51:17 am
Oil prices head back up on Middle East jitters Oil prices rose in early trade on Friday on heightened tensions in the Middle East, where Iran has promised to retaliate for a suspected Israeli air strike on its embassy in Syria, which could risk disruptions to supply from the oil producing region. Brent crude futures climbed 34 cents, or 0.38%, to $90.08 a barrel, while U.S. West Texas Intermediate crude futures rose 44 cents, or 0.51%, to $85.45, at 0033 GMT. The gains erased some losses from the previous session, which was dominate...
Oil prices head back up on Middle East jitters
Oil prices head back up on Middle East jitters
Source: Reuters
2024-04-12 09:17:10 am
Oil consolidates gains amid concerns of worsening Middle East crisis Oil prices held steady in early Asian trading on Thursday after gaining a dollar a barrel in the prior session as investors braced for a worsening of the Middle East crisis, potentially involving Iran, the third-largest oil producer in OPEC. Brent crude futures advanced by 4 cents to $90.52 a barrel by 0047 GMT, while U.S. West Texas Intermediate crude futures were up 2 cents at $86.24 a barrel. Both contracts rose more than 1% in the prior session after three sons of a Hamas leader wer...
Oil consolidates gains amid concerns of worsening Middle East crisis
Oil consolidates gains amid concerns of worsening Middle East crisis
Source: Reuters
2024-04-11 08:39:02 am
Oil prices turn higher as Middle East ceasefire hopes wane Oil prices rose in early Asian trading after hopes diminished that negotiations between Israel and Hamas would lead to a ceasefire in Gaza and ease tension in the Middle East. Brent crude futures rose 40 cents to $90.78 a barrel by 0032 GMT. U.S. West Texas Intermediate (WTI) crude rose 35 cents to $86.78. A fresh round of Israel-Hamas ceasefire discussions in Cairo had ended a multi-session rally on Monday, leading Brent to its first decline in five sessions and WTI its first in seven ...
Oil prices turn higher as Middle East ceasefire hopes wane
Oil prices turn higher as Middle East ceasefire hopes wane
Source: Reuters
2024-04-09 09:09:30 am
Oil tumbles nearly 2% as Middle East tensions ease Oil prices fell more than $1 a barrel on Monday, with Brent sliding under $90, as Middle East tensions eased after Israel withdrew more soldiers from southern Gaza and committed to fresh talks on a potential ceasefire in the six-month conflict. Brent crude futures slipped $1.70, or 1.9%, to $89.47 a barrel by 0053 GMT. U.S. West Texas Intermediate crude was at $85.29 a barrel, down $1.62, or 1.9%. "It appears the catalyst is Israel saying it has withdrawn all troops except one b...
Oil tumbles nearly 2% as Middle East tensions ease
Oil tumbles nearly 2% as Middle East tensions ease
Source: Reuters
2024-04-08 08:46:31 am
Oil edges up on U.S. Federal rate signals, China property sector support  Global oil prices climbed in early trade on Thursday, supported by signals from the U.S. Federal Reserve on a possible start to rate cuts and as China unveiled new support measures for its embattled property market. Brent crude futures rose 46 cents, or 0.6%, to $81.03 a barrel and U.S. West Texas Intermediate crude futures gained 47 cents, or 0.6%, to $76.33 at 0140 GMT, after falling by more than $2 a barrel in the previous session. Federal Reserve Chair Jerome Powell said on We...
Oil edges up on U.S. Federal rate signals, China property sector support
Oil edges up on U.S. Federal rate signals, China property sector support
Source: Reuters
2024-02-01 08:42:17 am
JPMorgan analyst sees oil price surge as high as $150 JPMorgan's head of EMEA energy equity research, Christyan Malek, warned markets that the recent Brent price surge could continue upwards to $150 per barrel by 2026, according to a new research report, Oil Price reported.Several catalysts went into the $150 price warning, including capacity shocks, an energy supercycle?and of course, efforts to push the world further away from fossil fuels.Most recently, crude oil prices have surged on the back of OPEC+ production cuts, mostly led by Saudi Ara...
JPMorgan analyst sees oil price surge as high as $150
JPMorgan analyst sees oil price surge as high as $150
Source: IANS
2023-09-24 08:56:39 am
Oil prices rise as supply concerns outweigh demand fears Oil prices rose on Friday as concerns that a Russian ban on fuel exports could tighten global oil supply outweighed fears that further possible U.S. interest rate hikes could dent fuel demand, but they were still headed for a weekly loss in four.Brent futures for climbed 21 cents, or 0.2%, to $93.51 a barrel by 0103 GMT, while U.S. West Texas Intermediate crude (WTI) futures gained 23 cents, or 0.3%, to $89.86.Both benchmarks were on track for a small weekly drop after gaining more than 10% i...
Oil prices rise as supply concerns outweigh demand fears
Oil prices rise as supply concerns outweigh demand fears
Source: Reuters
2023-09-22 09:00:29am
Oil prices fall ahead of more central bank steers on interest rates Oil prices fell in early Asian trade on Thursday after falling by the most in a month in the previous session on U.S. interest rate hike expectations, and ahead of a steer from other central banks on their rate outlooks.Brent futures for November delivery fell 44 cents, or 0.5%, to $89.18 a barrel by 0010 GMT. U.S. West Texas Intermediate crude (WTI) CLc1 fell 49 cents, or 0.6%, to $89.17.The U.S. Federal Reserve left interest rates unchanged on Thursday, but stiffened its hawkish stance with...
Oil prices fall ahead of more central bank steers on interest rates
Oil prices fall ahead of more central bank steers on interest rates
Source: Reuters
2023-09-21 08:57:03am
Oil prices rise on concerns over tightening supply Oil prices rose in early trade on Wednesday, hovering near 10-month highs hit the previous day, as a bigger-than-expected draw in U.S. oil stockpiles and weak U.S. shale output reinforced fears of tight crude supply for the rest of 2023.Global benchmark Brent crude futures climbed 6 cents, or 0.1%, to $94.40 a barrel by 0034 GMT, staying near the highest since November of $95.96 hit on Tuesday.U.S. West Texas Intermediate crude futures rose 29 cents, or 0.3%, to $91.49 a barrel, not too far f...
Oil prices rise on concerns over tightening supply
Oil prices rise on concerns over tightening supply
Source: Reuters
2023-09-20 09:05:59am
Rupee faces risk from rising oil prices With rising crude oil prices in the international market pushing up the demand for dollars, the Indian rupee has slumped to a record low of 83.2675 vis-?-vis the U.S. dollar. Going ahead much will depend on oil prices in global markets which are now hovering around the $95 per barrel mark.Although the RBI has been releasing dollars in the market to prop up the rupee this has not been able to stem the slide of the Indian currency as the country imports around 85 per cent of its crude oil requi...
Rupee faces risk from rising oil prices
Rupee faces risk from rising oil prices
Source: IANS
2023-09-19 03:54:38pm
Oil inches higher on supply concerns, China demand recovery Oil prices inched higher on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and on optimism of a demand recovery in China, the world's top crude importer.Brent crude futures rose 5 cents, or 0.1%, to $93.98 a barrel by 0027 GMT while U.S. West Texas Intermediate crude was at $90.92 a barrel, up 15 cents, or 0.2%."China's stimulus policy, resilient U.S. economic data, and OPEC+?s ongoing output cuts are the bullish fact...
Oil inches higher on supply concerns, China demand recovery
Oil inches higher on supply concerns, China demand recovery
Source: IANS
2023-09-18 08:59:15am
Oil rebounds as markets refocus on supply tightness Oil prices rebounded on Thursday as markets turned their attention back to a tighter crude supply outlook for the rest of 2023 with demand set to stay robust through to next year.Brent crude futures rose 36 cents, or 0.4%, to $92.24 a barrel at 0300 GMT. U.S. West Texas Intermediate crude (WTI) climbed 35 cents, or 0.4%, to $88.87.Fears of deficient supplies are underpinning oil prices as producers "adamantly stick to restricted production", said Priyanka Sachdeva, senior market analyst at Ph...
Oil rebounds as markets refocus on supply tightness
Oil rebounds as markets refocus on supply tightness
Source: reuters
2023-09-14 09:22:35am