The profitability of producing diesel in Europe dipped modestly on Friday but remained exceptionally strong due to persistent shipping disruptions in the Middle East. Regional inventories at the key ARA hub were stable with limited import activity.
European wheat prices declined for a second consecutive session, tracking losses in Chicago as traders assessed ongoing disruptions and export flows from Russia and Ukraine.
Angola plans to export 28 crude oil cargoes in November, a decrease from the 30 scheduled for October, according to a preliminary loading program. The reduced volume comes as West African crude prices find support from supply disruptions elsewhere.
A tanker carrying U.S. liquefied natural gas to Italy was forced to reroute after its crew reported a suspected cyberattack that disabled key control systems, highlighting growing security risks for energy shipments.
Naphtha prices in Asia declined for a third straight session, pressured by falling crude oil benchmarks. The market, however, remains in a steep backwardation, indicating persistent supply tightness.
The U.S. Federal Reserve raised interest rates for the first time in three years, while escalating conflict in the Middle East caused a surge in crude oil prices, confronting investors with dual pressures from monetary tightening and geopolitical risk.
The investment bank maintains its bullish long-term forecast for gold, arguing that strong central bank demand will outweigh near-term pressure from tighter U.S. monetary policy.
South Korea and the U.S. are discussing a series of major energy infrastructure projects, including a Texas gas plant and new nuclear reactors, as part of a $200 billion strategic investment package. The plans, reported by South Korean media, are still under negotiation and have not been finalized.
European and British wholesale natural gas futures are on track for their first weekly loss in over a month, as the resolution of a French labor strike temporarily eased supply concerns, overshadowing ongoing geopolitical risks.
