Chili oil

Representative image (Source: Reuters) PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook Crude oil prices have come down significantly in the last one month while refining margins have crashed from all-time highs to long-term averages. Brent crude, it may be noted, had remained above $100 for 159 days. However, the recent price crash does not offer definite signals about its future course. (image) No significant supply increase post US President visit In our last note, we talked about the expectations of higher oil supply following the US President's visit to Saudi Arabia. But it... … [Read more...] about Oil: Price fall in a tight market makes it a tricky affair

Share to Twitter Share to Linkedin Topline Ukraine’s suspension of Russian oil to Eastern Europe sent oil prices soaring Tuesday morning, after Russian oil company Transneft announced Ukraine had not received transfer fees for the oil for nearly a week due to Western sanctions, renewing fears of supply shortages. Key Facts Brent Crude Oil shot up 1.13% Tuesday morning, hitting $97.78 per barrel, while West Texas Intermediate increased 1.3%, to $92.06, following the announcement from Transneft , Russia’s pipeline monopoly. Transneft wrote in a statement obtained by Reuters that it had paid a transfer fee to Ukraine, but the money was returned because of European Union sanctions against Russia for its ongoing invasion of Ukraine. Ukraine’s decision to halt Russian oil affects the southern leg of the Druzhba pipeline, which feeds Hungary, Slovakia and the Czech Republic, according to Transneft. Hungary ’s oil reserves now sit … [Read more...] about Oil Prices Jump As Russian Oil Supplies Halted To Eastern Europe

(The Edge filepix by Zahid Izzani) - A + A KUALA LUMPUR (Aug 9): The Domestic Trade and Consumer Affairs Ministry will study suggestions to allow government-linked companies (GLCs) to handle the packaging of subsidised cooking oil packs to curb leakages. Its minister Datuk Seri Alexander Nanta Linggi said his ministry would study as to how GLCs could help the 300 licensed companies, as well as on distribution of the items . On reports that states were selling bottled cooking oil above the set maximum price, he said the traders involved were asked to adhere to the set prices that came into effect on Monday (Aug 8). Although there are provisions allowing the ministry to take action, he said his ministry tries to avoid taking stern action. “But if this goes on, we will have to take action to avoid this from impacting consumers,” he said after visiting the ministry’s exhibition booth at the 2022 Malaysian Agriculture, Horticulture and Agro-Tourism (MAHA) … [Read more...] about Ministry to study government-linked companies becoming subsidised cooking oil packagers

- A + A KUALA LUMPUR (Aug 9): Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher on Tuesday (Aug 9), tracking gains on the Chicago Board of Trade (CBOT), a dealer said. Nonetheless, the market is pressured by expectations of higher output and stock level, ahead of the key crop reports by the Malaysian Palm Oil Board (MPOB) scheduled to be released on Aug 10, palm oil trader David Ng said. “We have located the support level at RM3,700 a tonne, and resistance at RM4,300 a tonne,” he told Bernama . Meanwhile, Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said the market is now cautious, ahead of MPOB monthly supply and demand data, with focus on Malaysian palm oil end-July stocks and production. “Market is estimating the end-July stocks to rise to 1.77-1.82 million tonnes, from 1.655 million tonnes in June, and 1.498 million tonnes in July 2021. “For the Aug 1-5 period, Southern Peninsula Palm Oil … [Read more...] about CPO futures close higher on Aug 9, tracking soybean oil gains on CBOT

Share to Twitter Share to Linkedin Both oil and gas exported from Russia bring in significant revenue that can be used to support the Russian war in Ukraine. But the export revenue from oil sales is much greate r than export revenue from gas sales. If the West stops buying oil this really hurts Russia – more than if the West stopped buying gas. Back in May, the EU agreed to ban all Russian oil imports by the end of 2022, at least those that are delivered by sea. That was a good move. Russia threatens to cut gas supplies to the European Union. Russia has realized that cutting natural gas doesn’t affect their export revenue (like oil does) but it affects the economies of EU countries a lot more. Russia supplied the EU with 40% of its gas last year , with Germany, Italy, and Netherlands the top three importers in actual volumes of gas. Germany had imported more than 50% of its gas from Russia via the Nord Stream 1 pipeline. By the end of June, … [Read more...] about Russia Threatens, EU Reduces, US Industry Helps To Untangle The Natural Gas War In Europe.

- A + A MOSCOW (Aug 9): The rouble firmed towards 60 against the U.S. dollar on Tuesday, retaining support from capital controls and high prices for oil, Russia's key export, while stock indexes were mixed as the market lacked momentum. At 0738 GMT, the rouble was 0.6% stronger against the dollar at 60.40, trading in a range between 59 and 62 for the sixth day in a row. Against the euro, the rouble firmed 1.2% to 61.48 , well above the record low of 132.42 it hit days after Moscow sent tens of thousands of troops into Ukraine on Feb. 24. The rouble is the best-performing currency so far this year as it received a boost from the capital controls Russia imposed to shield its economy and the financial system from sweeping western sanctions. However the rouble may gradually weaken in the near term given the lack of news triggers and the fact that the monthly tax payment period that usually boosts demand for the currency will only start later in August, analyst at … [Read more...] about Russian rouble firms towards 60 vs dollar, stocks mixed

- A + A ROMPIN (Aug 9): A large-scale closed-system poultry farming project involving an allocation of approximately RM60 million in Kampung Tanjung Seratus, here, will be operational in December, said Rural Development Minister Datuk Seri Mahdzir Khalid. He said the project, undertaken by Felcra Bhd on an area of ​about 20ha is capable of supplying 600,000 chickens in a 35-day cycle or 3.6 million chickens in its first year of operation. Currently, the need for chicken in the country is more than two million chickens per day or about 62.9 million chickens per month. Through this initiative, he said it can help the country maintain its food supply, while also being able to generate the economy by creating job opportunities for local residents. "Felcra has engaged experts with the technology for this project. In addition, Felcra will also establish areas or sites in other states to increase the country's chicken supply," he said. Also present were Rural … [Read more...] about Large-scale poultry project in Rompin to start operation in December

- A + A KUALA LUMPUR (Aug 9): Perbadanan Nasional Bhd (Pernas), who is suing Serba Dinamik Holdings Bhd's managing director Datuk Dr Mohd Abdul Karim Abdullah and two former senior executives of the oil and gas services outfit's subsidiaries to claim the return of RM46.49 million over a share investment that went bad, has applied for a summary judgement against the trio. It filed the application on Aug 1 through Messrs Azmi & Associates, claiming that the defendants' defence has no merit, and that there are no longer triable issues to be decided by the court. Pernas, a Minister of Finance Inc (MOF Inc)-owned company with the mandate to lead the development of Malaysia's franchise industry, initiated the lawsuit in May. The two other defendants named in the lawsuit are Rosland Othman and Rosli Hamat. Rosland was previously senior vice president (special project) under Serba Dinamik Group Bhd (SDGB), while Rosli was senior VP (investment) of Serba Dinamik … [Read more...] about MOF Inc-owned Pernas seeks summary judgement in RM46 mil lawsuit against Serba Dinamik MD, two former execs

Gene Seymour is a critic who has written about music, movies and culture for The New York Times, Newsday, Entertainment Weekly and The Washington Post. Follow him on Twitter @GeneSeymour . The opinions expressed in this commentary are solely those of the author. View more opinion on CNN. (CNN) Nobody trusts my ability to forecast the future, least of all me. Nevertheless, I feel fairly safe in predicting that WNBA star Brittney Griner will not serve all nine years of her sentence by a Russian court for drug possession and smuggling. Gene Seymour It's not that much of a stretch to imagine this coming true, especially when recapping the basis for that charge: two vape cartridges of hashish oil found in Griner's luggage at a Moscow airport in February. Nine years? For two cartridges? The maximum sentence is 10 years , and at least Griner didn't get that. Those with long enough memories can't help but think of the incredulous … [Read more...] about Opinion: What happens next to Brittney Griner is beyond our control

Jill Dougherty is adjunct professor at Georgetown University and a former CNN Moscow Bureau Chief. The views expressed in this commentary are her own. View more opinion on CNN. (CNN) Some of the most dramatic -- and diplomatically delicate -- moments in United States-Russia relations are linked to prisoner exchanges. Jill Dougherty February 10, 1962: In a Cold War, Hollywood-style trade on the Glienicke Bridge between Berlin and Potsdam, two men -- an American and a Soviet -- walked in opposite directions across what would decades later be known as the "Bridge of Spies." They were Francis Gary Powers, the American pilot of a spy plane shot down over the USSR, and Soviet KGB colonel Rudolph Abel, who had served five years in the US on espionage charges. More than half a century later, Vladimir Putin, a former KGB officer, certainly knows the value of prisoner swaps. In April, his administration freed former US Marine … [Read more...] about Opinion: Putin’s prisoner swap calculus