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Energy Markets

Oil & Gas

Oil & Gas

India greatly raises import tax on edible oils to support farmers

India has raised the fundamental import tax on crude and fine-tuned edible oils by 20 portion points, the government stated on Friday, as the world's greatest edible oil importer attempts to assist secure farmers reeling from lower oilseed prices The move could lift edible oil prices and dampen need and consequently decrease abroad purchases of palm oil, soyoil and sunflower oil. After the duty walking announcement, Chicago Board of Trade soyoil extended losses and fell more than 2%. New Delhi on Friday imposed a 20% fundamental customs task on crude palm oil, crude soyoil and unrefined sunflower oil from Sept....

Oil & Gas

Extreme Asian heat spurs LNG demand ahead of summer months

Severe temperature levels throughout Asia are driving up melted gas (LNG) demand in the region as importers look for freights ahead of summertime, with imports in South Asia hitting records. This could tighten readily available supply and additional lift Asian spot prices that have currently gotten a third considering that April, with heatwaves across South and Southeast Asia boosting air-conditioner use and other cooling demand. Costs are now at a near six-month peak above $12 per million British thermal systems (mmBtu) and are anticipated to stay raised. Spot prices are now driven by Asian demand. Temperature levels in South Asia...

Fossil Fuels

Fossil Fuels

MORNING BID ASIA-Markets mull potential United States 'no landing'

A take a look at the day ahead in Asian markets. Trading in Asia begins on Monday with the worldwide macro and market landscape all of a sudden appearing really various from how it searched Friday, thanks to a set of U.S. work figures that not even the most bullish of forecasters expected. The September non-farm payrolls report on Friday was unequivocally strong on all fronts, and throws into doubt the projected path for U.S. rate of interest that financiers - and possibly the Fed too - had started to settle on. The instant shift in U.S. rate futures markets...

Fossil Fuels

Thailand to expand state equity fund to purchase regional stocks

Thailand's cabinet on Tuesday consented to increase the size of a current federal government equity mutual fund to invest in Thai stocks, a deputy financing minister stated, as the government looks for to support Asia's worst carrying out bourse this year. The fund will be positive for the capital market and offer a choice for savings, Paopoom Rojanasakul told reporters, without divulging the increased fund quantity. Finance Minister Pichai Chunhavajira has previously stated the size of the Vayupak Mutual Fund would be raised by 100 billion baht ($ 2.84 billion) to 150 billion baht. Pichai and other officials will hold...

Fossil Fuels

MORNING BID ASIA-Resilience vs quarter-end caution

A look at the day ahead in Asian markets. The very first meaning that appears in an online search for the meaning of durability is the capacity to withstand or to recover rapidly from troubles; durability. In worldwide markets today, one word probably is adequate: Nasdaq or Nvidia. Shares in the world's AI and chip beloved roared back 6.8%. on Tuesday for their best day in a month, enough to recover the. previous day's downturn, narrow the current correction, and set the. tone for a tech-led increase in U.S. and international equities. There was no fresh news or motivation behind...

Environment

Renewable Energy

Renewable Energy

Thailand exploring small modular nuclear reactor technology, states PM

Thailand is checking out small modular nuclear reactor technology as Southeast Asia's. secondlargest economy seeks to diversify its energy mix amid. diminishing reserves of gas that produces much of its. power, Prime Minister Srettha Thavisin said. Our green shift objective is one of the most ambitious in. Southeast Asia, and we have a detailed roadmap in place to. have 50% of energy production be eco-friendly by 2040, Srettha. stated in a speech on Friday at an American Chamber of Commerce. event in Bangkok. Together with green hydrogen and battery storage services, the. nation is looking at small modular reactor (SMR)...

Renewable Energy

White House moves to secure US solar producers from Chinese competition

The White Home on Thursday stated it would secure domestic solar factories from Chinese competitors by scrapping a tariff exemption for imported doublesided panels and making it much easier for jobs to declare a subsidy for utilizing Americanmade products. The relocations come as President Joe Biden touts his economic policies ahead of a November election versus his predecessor, former President Donald Trump. As part of the battle against environment change, Biden has actually looked for to broaden financial investment in the production of clean energy products, intending to lower the country's reliance on Chinese-made goods. The White House stated it...

Renewable Energy

China's EV strategy of going little and inexpensive to pay big dividends in Asia: Russell

China's. dominance of international electric lorry production and sales is an. established reality, however a brand-new International Energy Agency (IEA). report points to the nation extending its influence in vehicles. throughout the fastgrowing economies of Asia. The IEA's Global Electric Lorry (EV) Outlook 2024 report,. released on Tuesday, shows that China represented 60% of all. EV sales in 2023, and its fast uptake will continue, with one. in three vehicles on China's roadways in 2030 expected to be electric. Maybe more considerably the IEA sees China's influence. and lead in EVs spreading out throughout Asia as it leverages its. vast...