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Insight - Hedge funds buy US crude ahead of big freeze
HEDGE funds purchased more petroleum last week, but buying was almost entirely concentrated in West Texas Intermediate (WTI), which suggests it was driven by the prospect of freezing weather temporarily hitting US oil production.
China’s refining capacity set to increase
SHANDONG: China’s fuel refining capacity continues to rise, with the average utilisation rate of China’s independent refineries in Shandong province standing at around 70.4% in 2020, up by about 6 percentage points from 64.2% in 2019
CPO for third month delivery rises to RM3,440
KUALA LUMPUR: Crude palm oil (CPO) futures for March delivery extended their advance to a record for the contract on optimism that surging prices for rival soybean oil and petroleum will increase the appeal of the tropical oil in food and biofuels.
S&P Global Platts Market Insight: Key oil market themes to watch out for in 2021
IT is with cautious optimism that we bid farewell to 2020.
Crude palm oil for 3M futures up RM56 to RM3,420 per tonne
KUALA LUMPUR: Crude palm oil (CPO) for third month futures rose by RM56 to RM3,420 per tonne at midday on Thursday, the highest since March 2012.
Palm oil heads for weekly gain on supply worry, ringgit fall
KUALA LUMPUR: Palm oil headed for a second week of gains on supply concerns and as a weaker Malaysian currency made it cheaper for overseas buyers.
CPO futures rally to two-week high of RM2,936
KUALA LUMPUR: Crude palm oil futures advanced to the highest level in more than two weeks, buoyed by a recovery in demand from top buyers India and China, which may reduce global stockpiles.
Jet fuel margins hit two-month highs
SINGAPORE: Asian refineries’ profit margins for jet fuel have hit their highest levels in two months as demand for heating oil kerosene picked up before North Asia’s winter, but analysts do not expect margins to fully recover until the coronavirus-hit aviation sector is back to normal.
Diesel slump smashes palm oil’s biofuel goals
KUALA LUMPUR: Palm oil is now facing an almost insurmountable challenge in its bid to replace fossil fuel as an energy source
