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Indonesia will begin road testing for B50 biodiesel in the next month and consider selective implementation
Eniya Dewi, an official from the Energy Ministry, said that Indonesia will begin road testing vehicles with biodiesel containing palm oil at 50% content in early December. The government is deciding whether or not to implement the B50 mandate in only certain sectors. In an effort to reduce the country's dependence on imported fuel, the government plans to introduce the B50 Standard in the second half next year. The palm oil content will be increased from 40% to 50%. She said this on the sidelines a conference on industry held in Bali. Eniya stated that the government will review all aspects of B50, including pricing, availability, technical issues and palm oil-based fuel. It will also be transparent in its findings. Due to Indonesia's limited capacity to produce biodiesel, the government is evaluating whether it will only implement B50 for so-called Public Service Obligation Sectors (PSO), such as public transportation and some logistic facilities. Eniya stated that they had discussed the possibility of increasing the blend to 50% in the PSO sector and reducing it in the non-PSO sectors. The challenge lies in the upstream sector. She added, "We can't implement at 50% simultaneously." (Reporting and writing by Fransiska Nanangoy, Editing by David Stanway.)
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Australia's conservative Liberal Party abandons net zero policy
The conservative Liberal Party of Australia backed away on Thursday from its pledge to achieve net-zero emissions by 2050, and instead pledged to focus on bringing energy prices down if it were elected. The announcement ends months of public fighting between members of the right and moderate factions over the party's policy on climate change, and aligns Liberals and the National Party as their rural-based partner. Sussan Lee, the leader of the opposition party, said that if the Liberal Party is elected they will dismantle all the policies and targets set by the center-left Labor Government on energy and environment. This includes the reduction of emissions and the generation and use renewable energy. She added that the United States would not be withdrawing from the Paris Climate Agreement. Ley, speaking at a press conference, told reporters that the Liberal Party had decided to prioritize affordable energy. "Net zero is a welcome goal if we are able to achieve it with the right technology, choice and voluntary market." The Liberal Party plan also includes preventing coal plant closures before they are due, lifting Australia's nuclear energy ban and increasing investments in new infrastructure and gas supplies. Ley stated that while the party will no longer pursue net-zero, emissions will still be reduced in line with "comparable countries" and "as quickly as technology allows". After a five-hour meeting of the party on Wednesday, a majority voted to abandon this target. The Liberal Party is now in agreement with the Nationals who, earlier this month, voted to abandon their commitment to achieve net-zero emission. Julia Dehm is an associate professor of law at La Trobe University. She said that the plan did not comply with the Paris Agreement, which calls for emission reductions commitments "that represent a progress beyond previous commitments". She said that if bipartisan action is not taken to stop dangerous global warming in accordance with international obligations, Australia risks reputational damage internationally and possible international legal actions. The Liberal Party had committed to net zero by 2050 in 2021 under the former Prime Minister Scott Morrison. However, after the Labor Party's resounding victory in the May national elections against the centre-left Labor Party, the debate erupted. The Labor government wants to reduce emissions from 2005 by 62%-70% by 2035 and achieve net-zero emission by 2050. It announced A$5 Billion ($3.3 Billion) in funding for industrial facilities to decarbonize. (1 Australian dollar = 1.5389 dollars) (Reporting and editing by Stephen Coates in Sydney, Christine Chen)
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How much will the price of ROI-LNG drop by 2026? Russell
The market for liquefied gas is preparing itself for an increase in supply, mostly from the top exporter, the United States. However, it is not clear how low the spot price will need to fall to clear these additional volumes. According to commodity analysts Kpler, the global supply of super-chilled gasoline is forecast to reach 475 million metric tonnes in 2026. This represents a 10.2% increase over the 431 millions tons predicted for 2025. This figure is comparable to South Korea's total annual demand, which is the third largest LNG importer in the world behind China and Japan. Go Katayama, Kpler's principal LNG expert, told a Sydney seminar on Thursday that the U.S. will increase its capacity to 130 million tonnes next year. The increase is from 90 millions tons in 2024 to 110 million expected this year. Kpler predicts that Asian benchmark spot prices will fall by 5%. In 2026, the average price per million British Thermal Units (mmBtu), which was $12 in 2025, will be $10. This doesn't sound too bearish. However, within a price forecast average for a year there can be a lot of movement from week to week. The price of a mmBtu will likely remain around $11.10 during the winter season in the north, but if the weather is colder than usual, the price could rise. The spot price is expected to start in 2026 at a level well above the average $10 forecast for the entire year. This gives it the potential to fall throughout the year. The second half of the year 2026 will see a large portion of the 44 million ton new LNG supply. It is likely that the spot price will fall in the second half of the year as the market struggles with the additional supply. Who Buys? It is important to ask who will buy new LNG. Much of it is not contracted and therefore available for spot transaction. Kpler expects that China's LNG imports will rise from 8 million to 75 millions tons in 2026, despite the weak demand for residential and trucking. India and Southeast Asian countries such as Thailand and Philippines are also potential hotspots for LNG demand. These countries are largely price-sensitive and would need to see a significant drop in the price of mmBtu below $8 to be compelled to buy large volumes. Europe's LNG consumption may increase, as it continues to move away from Russian pipeline gas. However, growth could be modest as renewables take a greater share in the region's energy mix. It is not clear if the additional LNG supply that will hit the market in 2026 can drive the price down to $8, but an even larger wave in 2027 may be sufficient to cause a significant drop in prices. Qatar, the country that is second only to Australia in terms of LNG production, has been working to increase its output to 126 millions tons by 2027. QatarEnergy CEO Saad al-Kaabi stated last week that the Middle East producer was on track to begin new production at its massive North Field in the fourth quarter of this year. The LNG market will soon reach a point where the supply growth is outpacing demand growth. The market is now predicting that spot prices will continue to fall, which in turn will boost demand for Asian products. Prices will need to stay low to sustain any increase in demand, which is likely to limit future investment in LNG capacity. You like this column? Open Interest (ROI) is your new essential source of global financial commentary. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on LinkedIn, X. These are the views of a columnist who writes for.
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Gold prices continue to rise after Trump signss deal to end shutdown
Gold rose on Thursday for the fifth consecutive session, reaching its highest level in over three weeks. This was boosted by the expectation that the reopening of the U.S. Government would restart the flow economic data. It also boosted bets about further interest rate reductions. As of 0521 GMT spot gold had risen 0.4% to $4,214.52 an ounce. This was its highest level since October 21. U.S. Gold Futures for December Delivery rose by 0.1%, to $4218.20 an ounce. Jigar Trivedi is senior research analyst at Reliance Securities. He said that gold's winning streak was extending due to a weaker US dollar, the expectation of Federal Reserve rate reductions, and central bank accumulation. While a near-term consolidation may be possible following rapid gains, the outlook is still positive. The price of gold could reach $4,300/oz or higher by year's end, if real yields remain low and the monetary policy is still accommodative. The longest government shutdown ever in U.S. History was ended by President Donald Trump's signing of legislation on Wednesday. The shutdown began on October 1. It had prevented the release of important economic data such as payroll and inflation reports. The U.S. Labor Department’s statistical agency is urged to produce the November employment and inflation report as soon as possible so that Federal Reserve officials can have the most up-to date information during their December policy meeting. According to 80% economists polled, the Fed will lower its key rate again by 25 basis points in order to support a weakening labor market. This is a slight increase from last month's poll. Gold that does not yield tends to perform well when interest rates are low and economic uncertainty is present. Gold prices are up 60% in the past year, reaching a record high of $4381.21 on 20th October, boosted by geopolitical tensions, trade wars, and Fed rate cuts. The yen fell to a new record low against the euro, and sank to its lowest level in nine months against the dollar. This was after Japan's newly appointed prime minister stated that she wanted to see the central bank take a more cautious approach to raising interest rates. Silver spot rose 1.3%, to $54.11 an ounce. This is a move towards the record high reached on October 17. Palladium was up 0.5% at $1,481,08, while platinum was unchanged at $1,614.92. (Reporting and editing by Rashmia Aich, Mrigank Dhaniwala and Anmol Choubey in Bengaluru.
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Gold prices continue to rise after Trump signss deal to end shutdown
Gold rose on Thursday for the fifth consecutive session, reaching its highest level in over three weeks. This was boosted by the expectation that the reopening of the U.S. Government would restart the flow economic data and increase bets about further interest rate reductions. As of 0407 GMT spot gold rose 0.4% to $4,215.87 an ounce. This is the highest it has been since October 21. U.S. Gold Futures for December Delivery rose by 0.2%, to $4,219.90 an ounce. The prospect of weak economic numbers following the U.S. shutdown has helped to push gold higher. The demand for gold from central banks is likely to continue," ANZ analysts said in a recent note. The lack of alternative investment options, coupled with favorable policy measures and economic uncertainty, will drive both the retail and strategic demand for gold. The longest government shutdown ever in U.S. History was ended by President Donald Trump's signing of legislation on Wednesday. The shutdown began on October 1. It has prevented the release of important economic data such as payroll and inflation reports. The U.S. Labor Department’s statistical agency is urged to produce the November employment and inflation report as soon as possible so that Federal Reserve officials can have the most up-to date information during their December policy meeting. According to 80% economists polled, the Fed will lower its key rate again by 25 basis points in order to support a weakening labor market. This is a slight increase from last month's poll. Gold that does not yield tends to perform well when interest rates are low and economic uncertainty is present. Gold prices are up 60% in the past year, reaching a record high of $4381.21 on 20th October, boosted by geopolitical tensions, trade wars, and Fed rate cuts. The yen fell to a new record low against the euro, and sank to its lowest level in nine months against the dollar. This was after Japan's newly appointed prime minister stated that she wanted to see the central bank take a more cautious approach to raising interest rates. Silver spot rose 1.4%, to $54.15 an ounce. This is a move towards the record high reached on October 17. Palladium was up 0.8% at $1,486.28. Platinum was unchanged at $1,614.95 (Reporting and editing by Rashmi aich, Anmol choubey, Ashitha Shivaprasad and Brijesh patel in Bengaluru)
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Oil prices drop on US stock build-up and OPEC forecast change
Oil prices fell on Thursday, continuing losses from the previous day, after a report indicating rising crude inventories at the U.S. heightened concerns that global supplies are more than enough to meet the current fuel demand. Brent crude futures dropped 9 cents or 0.1% to $62.62 per barrel at 0336 GMT after falling 3.8% the day before. U.S. West Texas Intermediate Crude fell 11 cents or 0.2% to $58.38 per barrel, continuing a 4.2% drop on Wednesday. According to market sources, who cited American Petroleum Institute data, U.S. crude stocks rose by 1.3m barrels during the week ending November 7, according to Wednesday's figures. The API data showed that gasoline and distillate stocks dropped. The price of a barrel of oil fell by more than two dollars on Wednesday, after the Organization of the Petroleum Exporting Countries said that global oil supplies would slightly exceed demand in the year 2026. This is a significant shift from the earlier predictions of a deficit. Suvro Sarkar is the DBS Bank energy sector team leader. He said that the recent (price) decline seems to be driven OPEC’s revised supply-demand balance for 2026. This confirms that the group now acknowledges the possibility of a glut of supplies in 2026. This is in line with the recent decision by the government to stop the unwinding voluntary production cuts for the 1Q. This is a simple shift in the way the market is viewed. It doesn't affect the fundamentals of the market. Therefore, the market reaction appears overdone." OPEC expects a surplus of supply next year due to the increased production by OPEC+. This group includes OPEC producers and their allies, such as Russia. The OPEC signal that there was a surplus of supply in the market released previously pent up bearish sentiment during the previous session. A U.S. crude stock buildup added further pressure and pushed oil prices down on Thursday morning," Yang An, an analysts at Haitong Securities, said. Energy Information Administration (EIA) is expected to release its inventory data on Thursday. Investor sentiment was further exacerbated by other reports released on Wednesday. In its Short-Term Energy Outlook, the EIA said that U.S. Oil Production is expected to reach a higher record than originally forecast. The EIA said that global oil inventories are expected to grow until 2026, as production will increase faster than the demand for petroleum products, increasing pressure on oil prices. Some analysts expect prices to stay close to current levels in the future. Sarkar, DBS's Sarkar, said that there should be substantial support for oil prices at $60/bbl. This is especially true given the possibility of a short-term disruption in Russian export flows when stricter sanctions are implemented.
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Sources say that the Marathon Galveston Bay Refinery, Texas, will restart its hydrotreater.
According to sources familiar with the plant's operations, Marathon Petroleum has restarted the last repaired portion of the residual hydrotreater at its 631,000 barrels per day (bpd), Galveston Bay refinery in Texas City. Jamal Kheiry, the spokesperson for Marathon, declined to comment on operations at its refinery Wednesday. Sources said that the last section was a hydrocracker located on the RHU of 64,000 bpd, which had been heavily damaged in a fire in June. The hydrocracker should restart by the week's end. Sources told us in October that the hydrocracker repair work would be completed in November. A restart was expected for the middle of this month. John Quaid said that Marathon's Chief Finance Officer in a conference call on November 4, the hydrocracker should be restarted before the end the month. The hydrotreater sections of the RHU were restarted in September. Hydrotreaters remove sulfur from motor gasoline and its feedstocks using hydrogen in order to comply with U.S. Environmental Rules. The hydrocracker converts residual crude oil to diesel or other motor fuels using a catalyst in high pressure and heat, with hydrogen present. (Reporting and editing by Muralikumar Aantharaman, Rashmi aich, and Erwin Seba)
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Shanghai copper continues to gain on US Government reopening cheer
Shanghai copper prices rose on Thursday, as investors welcomed the end of the U.S. shutdown and eased market uncertainty. However, gains were limited by the expectation of weak Chinese lending ahead of important economic data releases. As of 2100 GMT, the most traded copper contract at Shanghai Futures Exchange rose by 0.58%, trading at 87230 yuan (12,246.24) per metric ton. The benchmark three-month price of copper fell 0.25%, to $10,91.5 per ton, after hitting $10,972 a ton on Wednesday. The market is closely watching steps taken to end the longest government shutdown in the history of the U.S., where the Republican-controlled House of Representatives on Wednesday passed a spending package to extend funding for federal agencies through January 30 that can reopen the government. Now that the bill has been signed by President Donald Trump, it is now up to him to sign it into law. Investors are pleased that the U.S. Government will reopen soon, reducing market uncertainty. They also expect to see economic data returning to gauge the U.S. Economy. Copper gains are being held back by expectations of China's weak lending. Investors also await a number of economic data from China, which will be released this Friday. These include new home prices and retail sales as well as industrial output. Tin, another base metal in the SHFE, posted the largest gain of 2.25%, rising to 298,070 Yuan per ton. Data from Indonesia's Trade Ministry showed that the country, which is a major supplier of tin to China, export 2,643 tonnes of refined tin during October. This was down 53.89 percent from the previous year, raising concerns about the availability of this soldering material. Nickel fell 0.17% and zinc was unchanged. Aluminium rose 0.87%. Lead climbed 0.77%. The LME metals index showed that aluminium, nickel, and lead all fell by 0.19%. Zinc was also down 0.36%. Tin remained unchanged. $1 = 7.1230 Chinese Yuan Renminbi (Reporting and editing by Dylan Duan, Lewis Jackson)
Deal after dinner when Trump signss end to shutdown
Tom Westbrook gives us a look at what the day will bring in the European and Global markets. U.S. president Donald Trump signed the bill that ended the longest U.S. shutdown ever recorded at a late-night signing ceremony at the Oval Office. This was after a dinner planned with Jamie Dimon, and other top Wall Street executives.
Uncertainty surrounds the speed at which full government operations and services will resume.
Investors expect the September jobs report to support a rate reduction, after recent soft numbers in private surveys. Some data gaps will likely be permanent. The White House has said that October's Consumer Price Index and Employment reports may never be released.
Stocks in Asia took a break, with broad indexes moving higher, and Japan's Topix reaching a new record - after records were set by the Dow, FTSE, and pan-European STOXX 600 – an indication of a slight rotation from AI.
The rise in gold prices has also slowed down.
The yen has also been sliding towards intervention territory. The finance ministry reminded the public that they were closely watching a brief rise above 155 dollars per dollar on Tuesday.
In Asia, it remained on the high side of this level. However, in Europe and Asia it sagged to a new record low of 179.49 euros. Sanae Takaichi, Prime Minister of Japan, wants to keep rates low and asked for close coordination between the Bank of Japan. Kazuo Ueda, the BOJ governor, told parliament that his goals were aligned with those of the government to reflate growth. He said he aimed for moderate inflation and wage increases. Markets in Australia have backed off rate cuts after a surge in employment in October. Meanwhile, ANZ Bank's shares that had lost their dividends are dragging down the index.
From the close of trading in Asia, a slew earnings are due. Tencent may offer a read on China's consumer base. Updates from China's SMIC will be watched to gain insight into U.S. and China technology tensions.
Siemens' results will reveal how the German industrial giant has navigated tariffs and an uneven global economy.
The following are key developments that may influence the markets on Thursday.
* Earnings at Rakuten, Tencent, SMIC, Merck, Burberry, Siemens, Disney
* UK GDP
(source: Reuters)