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Some farmers in Romania have started harvesting the sunflower crop three weeks earlier than planned as crops dry out in the fields due to drought. A lack of rain and scorching temperatures have forced farmers to begin harvesting earlier compared with previous years, a farmer

September power forwards across the West are at their lowest levels of the year because of weak natural gas forward prices as thermal generation overtook solar to lead the fuel mix. Despite the market weakness, September forwards remain at a premium to the September 2023

China’s national compliance carbon market may not evolve into the country’s primary tool to decarbonize its coal-fired power sector, due to the government’s reluctance to give free rein to market forces and resistance from influential bodies in the thermal power sector. This is likely to

Natural gas prices at the West Texas Waha hub opened in negative territory again Aug. 21, marking nearly a month of consecutively negative pricing there as producers eagerly await new, incremental production takeaway capacity expected in September upon startup of the 2.5 Bcf/d Matterhorn Express

Members of the All India Ports and Dock Workers Federation signed a memorandum of understanding with the Indian Ports Association and the Ministry of Shipping to avert an indefinite strike across 12 major ports in the country from Aug. 28, according to a circular seen

Day-ahead spot prices traded on the Japan Electric Power Exchange soared to the highest so far this summer Aug. 29 as gas and coal-fired power plants in the western part of the country plan to shut or cut output with the approach of Typhoon Shanshan.

The 2024 US presidential election marks a pivotal moment for the ambitious suite of climate and energy regulations advanced by the Biden administration. Executive branch agencies are defending broad controls on greenhouse gas emissions from the US electricity, transportation, and oil and gas sectors following

European LNG spot prices have struggled to compete with oil-linked contracts as the overarching bearish sentiment in crude oil was battling the looming winter risks in the European natural gas and LNG markets, according to data from S&P Global Commodity Insights. Platts, part of S&P

The US Energy Information Administration delivered yet another bullish US natural gas storage report Sept. 12, reporting a 40 Bcf injection to domestic inventory during the first week of September. The latest weekly injection reported by EIA was 10 Bcf, or 20%, smaller than the

US energy markets will need more Permian Basin gas to meet the electricity needs of data centers that power artificial intelligence, Chevron CEO Mike Wirth said Sept. 17 at a conference in Houston. “Natural gas will help power the rapid growth of artificial intelligence with

Australian iron ore miner BHP has widened October discounts for term contracts across Jimblebar Fines (JMBF), Mining Area C Fines (MACF) and Newman High Grade Fines (NHGF), while narrowing the discount for Newman Unscreened Lump (NBLU), BHP’s contract customers said Sept. 24. The discounts for

India’s metallurgical coal demand is set to reach a record 100 million metric tons in 2024, posting a significant milestone for the industry. India surpassed China and Japan as the largest seaborne met coal importer some years back, and currently is expected to break last

The International Longshoremen’s Association strike, declared Oct. 1 at US East and Gulf coast ports is not likely to support spot thermal coal prices due to a preexisting supply glut, according to a S&P Global Commodity Insights market survey. “I believe even if the strike

Diesel flows from the US Gulf Coast to Northwest Europe and the Mediterranean have been increasing as the summer draws to a close, with July volumes hitting a record monthly high and August on track to beat it, according to S&P Global Commodities at Sea

South Korean refiners are generally content with a slight improvement in refining margin so far in the third quarter but China’s ample clean oil product export quotas and tepid regional economic activity pose a serious threat to the overall cracks and export margins, industry sources

The EU reached its 90% gas storage target on August 19, some 11 weeks ahead of the EU-mandated November 1 deadline. The target was reached thanks to a mild 2023/24 winter, subdued gas demand, and continued strong Norwegian deliveries. Ukrainian storage, however, is underutilized this

The Japan Coast Guard is considering whether to impose evacuation and no-entry advisories for large ships, including LNG carriers, in Osaka Bay, Seto Naikai and Ise Bay from Aug. 26, ahead of the approach of Typhoon Shanshan, JCG officials told S&P Global Commodity Insights Aug.

Pakistan parboiled milled rice 5% STX prices reached a one-year low on Aug. 27, with Platts assessing it falling $49 per metric ton on the year to $544/t, S&P Global Commodity Insights data showed, potentially making it competitive against Thai rice. Despite the price decrease,

Tech giant Meta is eyeing the biofuels market in a bid to diversify the power source for its energy and emissions-intensive data centers. Meta, the parent company of Facebook and WhatsApp, has started pilots of r enewable diesel , also known as hydrotreated vegetable oil

Texas regulators’ decision to pursue possible Texas Energy Fund financing for about 9.8 GW of new dispatchable generation projects, almost all using natural gas, may reduce scarcity pricing if they are approved, industry observers said Sept. 3, but it could increase natural gas demand and

US Gulf Coast drillers were shutting in oil and gas production, and ports were starting to close Sept. 10 in preparation for Tropical Storm Francine’s landfall. Upstream producers had shut in 412,070 b/d of oil production, or around 23.55% of the US Gulf’s total crude

The US has announced it will go ahead with Section 301 tariffs on a number of commodity imports from China, including steel, aluminum, lithium-ion batteries, graphite and other critical minerals, the Office of the United States Trade Representative said in a Sept. 13 statement. It

Subdued copper prices are expected to weigh on molybdenum supply in the coming years, Kevin Pritchett, Climax Molybdenum’s director of marketing, said in a panel discussion at the SMR Stainless Steel conference in Rome on Sept. 18. “Supply is still a challenge, especially from Western

The significant increase in Canada’s TMX heavy crude exports from Vancouver to Asia, which have nearly tripled since May, is expected to bolster Aframax freight rates with more tonnage being placed in the region, while potentially reducing Middle East crude movement into Pacific markets, several

The annual LME Week kicks off in London on Sept. 30, bringing together leading stakeholders from the metals and mining industry, including company executives, government officials, traders, and financiers. Over the course of the week, delegates will discuss the complex myriad of challenges and opportunities

Brent crude prices jumped 5% on Oct. 1 and global energy markets were on tenterhooks after Iran launched a new missile attack on Israel, sparking concerns of a major regional escalation and a direct conflict between Israel and Iran. Waves of missiles were seen over

Most US shale drillers’ second-quarter results included reports that they curtailed production efforts at least slightly to save money in the face of $2/MMBtu natural gas prices. While financial analysts applauded the move, investors kept their distance. The majority of these shale gas exploration and

Singapore’s GenZero and Keppel Ltd. and the Philippines’ ACEN have signed a memorandum of understanding for the generation and utilization of carbon credits, called transition credits, to support the early closure of a coal-based power plant, the companies said in a joint statement Aug. 16.

The EU reached its 90% gas storage target on Aug. 19, 11 weeks ahead of the EU-mandated Nov. 1 deadline, data from Gas Infrastructure Europe showed Aug. 21. The target was reached thanks to a mild 2023-24 winter, which left EU stocks still 58.5% full

A Greek crude tanker adrift in the southern Red Sea was targeted by a sea drone as crew members were evacuated, according to the EU naval force and UK Maritime Trade Operations, as the most destructive attack on Red Sea shipping continued for a second

Current natural gas prices in Brazil make the production of nitrogen-based fertilizers in the country “completely unviable,” Carlos Fávaro, minister of agriculture and livestock, said Aug. 27. During the 11th Brazilian Fertilizer Congress, the minister said recent changes in the regulatory framework will boost domestic

The US oil and natural gas rig count fell by four to 633 rigs for the week ended Aug. 21, S&P Global Commodity Insights data showed, as analysts said they are seeing recent evidence of resilience in oil supply and gas prices by year-end. In

(Latest update September 5, 2024) The Platts global bunker fuel cost calculator shows how Platts price assessments for methanol, ammonia, LNG, bioblends and conventional oil-based fuels can be used to calculate the cost of marine fuels around the world, taking into account the EU Emissions

Geopolitical issues no longer sharply influence oil prices and trade flows in Asia amid ample supply options, industry participants at the Asia Pacific Petroleum Conference said, while cautioning that fragile demand and tepid margins may dictate the market trend in the short term. Regardless of

Vietnam is considering resuming nuclear power development and boosting solar power capacity as it faces challenges in expanding coal, gas, wind and hydro power. In a recent meeting, the central government directed the Ministry of Industry and Trade (MoIT) to conduct a review of projects

The European carbon border adjustment mechanism (CBAM) in its current form will not benefit the European stainless steel industry, a panel of executives from European stainless steel producers told delegates at the SMR Stainless Steel conference in Rome on Sept. 17. “CBAM is a bad

Vietnam is expected to continue experiencing a shortfall of domestic natural gas for power generation next year due to declining production at its upstream gas fields, according to a presentation from state utility EVN, seen by S&P Global Commodity Insights on Sept. 23. Meanwhile, delays

Singapore’s low sulfur fuel oil arrivals from the West were seen increasing in October, thanks to widely workable arbitrage economics, but trade sources said limited availability in Northwestern Europe as well as the Mediterranean region would keep a lid on overall volumes. The world’s largest

Petcoke deliveries to Turkey totaled 289,962 metric tons in August, down 38% from July and almost 23% down on the year, according to data from the Turkish Statistical Institute published Oct. 1. The monthly volume was the lowest since imports of 269,826 tons were recorded

Bullish European gas and LNG prices have pushed inland refineries to consider alternative fuels as their main power source with relatively cheap inland propane prices providing strong incentive for gas-to-LPG switching. Platts, part of S&P Global Commodity Insights, assessed the Northwest European LNG marker for

Indonesia lowered its mandate for the amount of palm oil companies must allocate to a government run-cooking oil program and raised the price cap under its Domestic Market Obligation policy Aug. 19, to enhance participation from local sellers. The new DMO target is set at

Japan, Australia, and nine Southeast Asian countries have agreed to establish an extensive Asian supply chain geared towards the production and distribution of sustainable fuels, with a particular focus on biofuels and other renewable fuels. The commitment was formalized during the second Asia Zero Emission

Volumes traded for the scrap futures contracts on the London Metal Exchange in August to date have more than doubled in comparison with the whole of August 2023, reaching 766,320 metric ton, up from 355,570 t, as volumes continued to perform strongly with five trading

Platts-assessed Myanmar 5% broken white rice is at a one-year low Aug. 28, making it more competitive against the same variety from Thailand, Vietnam and Pakistan. Platts assessed Myanmar 5% broken white rice at $519/t FOB FCL on Aug. 23, dropping $71/t on the year,

Fears of a major oil spill and fresh shipping disruptions in the Red Sea receded Aug. 29 after Iran-backed Houthi militants in Yemen agreed to allow rescue ships to access the Greek oil tanker still burning in the key trade chokepoint. Access to the MV

Russian state carrier Sovcomflot made a strong return to its home turf to transport crude in August, keeping the share of Russia’s shipments outside of the G7 price cap above 80%. Data from S&P Global Commodities at Sea and Maritime Intelligence Risk Suite showed tankers

Global LNG demand could rise 50% from the current levels by 2040 if prices don’t ratchet as consumption is seen staying stronger, Gunvor Group co-founder and Chairman Torbjörn Törnqvist told S&P Global Commodity Insights Sept. 9. “We’re seeing a bit of a more normal market

Indonesia, one of the world’s largest rice importers, is seeking to purchase 450,000 metric tons of 5% broken white rice. As new crop arrivals approach in October, exporters from Pakistan and Thailand are eyeing this opportunity to secure significant volumes. Bulog, Indonesia’s state procurement agency,

Williams expects the US natural gas market to demand more greenfield pipeline capacity from the midstream operator as it begins to exhaust options for brownfield expansions along its existing network, Executive Vice President Chad Zamarin said a Sept. 18 interview. The company’s active project portfolio

North American energy company TC Energy could be as close as a few financial quarters away from closing deals providing for natural gas transportation to fuel on-site power generation at data center facilities, the company’s US gas pipeline chief told S&P Global Commodity Insights. Stan

Hurricane Helene is expected to have significant impacts on energy infrastructure in Florida and the US Southeast when it makes landfall later Sept. 26. Utilities moved crews into the region and warned customers of extensive outages possible in the coming days. Over 250,000 customers were

Nearly 2 million electricity customers in the US Southeast remained without power as of Sept. 30 due to widespread flooding and infrastructure damage from Hurricane Helene. Helene made landfall late Sept. 26 near the Big Bend area of the Florida Gulf Coast and quickly moved

Malaysia has initiated an antidumping duty investigation into coated iron or non-alloy steel flat-rolled products from China, India, Japan and South Korea, the Ministry of Investment, Trade and Industry said in a note released Aug. 14, following a petition from the domestic industry. The Malaysian

The first half of the year has been a cause for celebration among aluminum can manufacturers in Brazil, as the extended hot season and favorable macroeconomic conditions have driven beverage consumption and can sales. This trend is anticipated to lead sales to a 5% growth

The US and Argentina are expected to sign a memorandum of understanding concerning critical minerals Aug. 22 as the US continues efforts to boost supply chains outside of China, the State Department said Aug. 21. The partnership comes as Jose Fernandez, under secretary for economic

Ukraine’s grain exports were likely to rise back to their pre-war level in a couple of years thanks to the successful operation of the maritime grain corridor, Ukrainian Agrarian Confederation analyst Artem Havrysh said in an interview with S&P Global Commodity Insights. Ukraine has been

Natural gas cash prices in Southern California have been below Henry Hub for much of August, and the forwards market is pricing in a rare basis discount continuing through October amid strong storage inventories and gas production in the Western US. The SoCal Gas city-gate

India’s federal coal ministry has identified 38 priority rail projects to reduce logistics costs, enhance efficiency in domestic coal transportation, and ensure timely coal supply from mines to plants. These projects, part of the country’s coal logistics plan, will be expedited in close coordination with

A significant reduction in feed wheat prices is intensifying competition with corn sourced from Ukraine and other regions in the animal feed market, market sources said this week, with feed mills likely to adjust the ratios on their input grains as a result. In August,

Singapore’s sustainable aviation fuel levy will only apply to plane tickets sold after the levy kicks in from 2026, the Civil Aviation Authority of Singapore’s Chief Sustainability Officer Daniel Ng said on the sidelines of S&P Global Commodity Insights’ APPEC 2024 conference Sept. 11. Air

Van Iperen International is expecting the first shipment of 3,500-4,000 metric tons of Cinis Fertilizer’s sulfate of potash from the latter’s new Ornskoldsvik production facility in Sweden to arrive in the Netherlands by next week. “Cinis has started loading the vessel today and it should

China’s sustainable aviation fuel (SAF) pilot program will begin Sept. 19, where 12 commercial flights from Air China, China Eastern and China Southern will use SAF when departing from four Chinese international airports, authorities said in a statement on the same day. The airports taking

Turkey is eying a greater role as a re-exporter of natural gas to Europe, Turkish energy minister Alparslan Bayraktar said in an interview on Turkish television broadcast on Sept. 20. Bayraktar said the country’s gas pipeline system operated by state-owned Botas together with its five

To accelerate renewable energy deployment and fund next-generation energy solutions, the US needs a heavy focus on building more transmission and natural gas-fired power generation over the short term before phasing it out longer term, an energy trade group executive said Sept. 26. Having adequate

As Europe enters the fourth quarter, and the official start of the gas winter, markets remain on edge, with the expiry of the Russia-Ukraine gas transit deal at year-end in sharp focus. While gas demand is still well down on pre-2022 levels, any new supply

Brazil’s legislative overhaul in lithium export regulations has transformed the country into a burgeoning hub for lithium production, unlocking vast economic potential and attracting global investments. “Thanks to a legislative change made four years ago regarding lithium exports, we can now transform this mineral asset

Canada’s Electra Battery Materials has been awarded $20 million by the US Department of Defense to support the construction and commissioning of its cobalt sulfate refinery, the company said Aug. 19. The $250 million refinery project is located north of Toronto, and would be the

The Electric Reliability Council of Texas set an unofficial peakload record of 85,559 MW Aug. 20, barely topping the 85,508-MW record set Aug. 10, 2023, and systemwide real-time wholesale power prices spent 75 minutes above $2,000/MWh and 2.5 hours above $100/MWh amid persistent triple-digit temperatures

Indonesia’s state-owned purchasing agency, Bulog, announced its seventh tender of the year Aug. 23, seeking to buy 350,000 metric tons of 5% broken white rice. Pakistani sellers view this as a promising opportunity, given the arrival of their new crop in September and their competitive

Sweden’s government is proposing to boost its emissions reductions targets for road fuels, according to Swedish news outlets and parliamentarians, in an expected policy boost for its biofuels sector less than a year after it watered down its climate targets. In what would be a

India imposed certain export restrictions on rice in August 2022 and followed it up with another set of bans in July 2023. Such policies from the world’s largest rice exporter have proved to be a boon for regional peers. Thailand, Vietnam and Pakistan all posted

Malaysian state-run refiner Petronas is set to produce sustainable aviation fuel by 2028, Transport Minister Anthony Loke said Sept. 5 at a National Aviation Consultative Council meeting launching the Malaysian Aviation Sector Decarbonization Roadmap, or MADB. Currently, no local airlines in Malaysia use SAF, which

Asian LNG importers are increasingly using flexibility in LNG contracts to manage supply security such as adjustment of offtake volumes during weak demand or due to uncertainty around alternative fuels and energy transition, executives at the Asia Pacific Petroleum Conference (APPEC) said in Singapore Sept.

BP has agreed to sell to global asset manager Apollo a non-controlling stake in its subsidiary BP Pipelines TAP, which holds a 20% stake in the key TAP pipeline that brings gas from Azerbaijan to Europe. In a statement, BP said the agreement for the

Recent trade flows of nickel pig iron (NPI) to European stainless steel mills are unlikely to be sustainable going forward, Lucy Parker, base and battery metals strategist at Anglo American, said during a panel discussion at the SMR Stainless Steel conference in Rome on Sept.

Several major ports are gearing up for a potential strike that could disrupt operations starting Oct. 1 as the current contract between the International Longshoremen’s Association and employer group United States Maritime Alliance expires at the end of the day Sept. 30. This has prompted

Shipping officials from some 170 countries are set to descend on the International Maritime Organization’s headquarters in London by the end of this month, hoping to narrow their gap of opinions over how to tighten regulations on greenhouse gas emissions from vessel operations. But proposals

Whether it is another move up or a dive down, Brazilian ethanol traders are bracing for a rough ride, after oil benchmark volatility, constant speculation over a potential price cut for gasoline by state-controlled Petrobras and sugarcane harvesting developments across the country’s main production regions

The timeline for US beef imports to arrive at domestic ports, cross through terminals and clear inspection is taking longer than anticipated due to slowdowns caused by multiple factors at various ports nationwide, according to US beef market participants. A US-based beef buyer said Aug.

Ukraine’s preparations for the coming winter are already in the “active stage” with a focus on protecting key energy infrastructure and the repair and restoration of facilities, the country’s energy ministry said Aug. 17. The ministry said the main areas of planning were discussed at

Western Canadian heavy oil and bitumen producers are seeking alternatives to ship their barrels to markets with the stage being set for Canadian railroads to strike work starting Aug. 22, industry participants said. “We are focused on the final outcome and continue talks with CN

US officials Aug. 23 announced a slew of new sanctions to ratchet up pressure on Russia and entities aiding its war against Ukraine, including measures extending efforts to disrupt the Kremlin’s LNG trade. The sanctions were announced a day before Ukraine’s Aug. 24 independence day.

The US energy sector added over 250,000 jobs in 2023, representing a 3% annual growth rate, or double the overall pace of US employment growth last year, according to a Department of Energy report released Aug. 28. Clean energy employment increased by 142,000 jobs, accounting

South Korea will provide tax breaks and other incentives to local refiners to invest in sustainable aviation fuel to lower production costs, as the country aims to mandate the use of 1% SAF blend for all departing international flights from 2027, its government announced Aug.

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on two more LNG carriers and two related shipping companies for Russia-related transactions, according to its statement Sept. 5. The two LNG carriers added to OFAC’s Specially Designated Nationals list

Hurricane Francine weakened Southeast Gulf Coast energy demand Sept. 11, but prices remained strong, and LNG production continued as area utilities prepared to restore electric service as soon as possible after the storm’s expected landfall brings storm surges up to 10 feet, heavy rains and

European aluminum billet premiums held firm through the week to Sept 16, as the recent industry event in Athens brought speculation of a declining market, with purchasing trends swinging toward monthly bookings and fourth-quarter expectations still under debate. Cheaper offers emerged during the past week

The European Automobile Manufacturers’ Association has called on EU institutions to provide urgent relief measures for boosting battery electric vehicle sales before new CO2 targets for cars and vans come into effect in 2025. The ACEA said in a Sept. 19 statement that the continuous

Brazil’s soybean processing capacity is likely to reach its highest active level in nearly 20 years by the end of 2024, driven primarily by positive margins and an increased mandatory biodiesel blend with diesel. According to S&P Global Commodity Insights, Brazilian crushing plants will close

Latest update: Sept. 25, 2024 For decades, the shipping industry has been powered by what oil veterans describe as residues and dirty fuels. But this could be changing as the EU and International Maritime Organization are promoting greener fuels to reduce air pollution and fight

The JKM-NWE spread fell to 16.3 cents/MMBtu Oct. 1, the lowest level since Oct. 12, 2023, amid weak Asian LNG demand and worries over potential tight constraints in Europe during winter. While the narrowed JKM-NWE spread was partly due to European LNG prices strengthening during

The timeline for US beef imports to arrive at domestic ports, cross through terminals and clear inspection is taking longer than anticipated due to slowdowns caused by multiple factors at various ports nationwide, according to US beef market participants. A US-based beef buyer said Aug.

A sharp decline in prices of battery energy storage systems, fast additions of renewable energy capacities and effective utilization of coal-fired power plants over the next few years are crucial for India to achieve its net-zero emissions target by 2070, according to a joint report

A Greek tanker laden with Iraqi crude was drifting off Yemen on fire after being struck by four missiles Aug. 21, while a second ship was targeted South of Aden, according to the United Kingdom Maritime Trade Operations and S&P Global Commodities at Sea data,

The Indian Ports Association proposed a revised offer on Aug. 21 for a new wage structure for dock workers to avert a strike called by the unions from Aug. 28. The move comes as part of ongoing efforts to resolve wage disputes and ensure uninterrupted

The US energy sector added over 250,000 jobs in 2023, representing a 3% annual growth rate, or double the overall pace of US employment growth last year, according to a Department of Energy report released Aug. 28. Clean energy employment increased by 142,000 jobs, accounting

India imposed certain export restrictions on rice in August 2022 and followed it up with another set of bans in July 2023. Such policies from the world’s largest rice exporter have proved to be a boon for regional peers. Thailand, Vietnam and Pakistan all posted

(Latest update: Sept. 5, 2024) Related content: Sovcomflot keeps non-G7 tankers’ share in Russia crude exports above 80% Russia, one of the world’s largest oil suppliers, has increasingly turned to non-Western firms to transport its crude to overseas buyers during its ongoing war with Ukraine

The growing influence of hedge funds in the European natural gas and LNG markets has pressured market prices increasingly over the last year, with values sinking as the market now sees a shift in patterns ahead of winter. In a recent report on European competitiveness

Local authorities in Houston ordered evacuations and shelter-in-place orders Sept. 16 after an Energy Transfer pipeline carrying natural gas liquids caught fire. The city of La Porte said its fire department responded at 9:55 am CT to the fire, which occurred in the neighboring city