-- 原油价格暴跌削弱了生物燃料的经济效益，并拖累马来西亚棕榈油期货价格周四进一步下跌，尽管印尼和马来西亚不断扩大的生物柴油项目限制了跌幅。 继前一交易日价格下跌2.8%之后，马来西亚衍生品交易所6月原棕榈油合约在午盘交易中再次下跌1.19%，至每吨4493马来西亚林吉特（1149.25美元）。7月合约进一步下跌1.27%，至每吨4521林吉特。 本币走强也对价格构成压力，导致出口成本上升。周四，马来西亚林吉特兑美元汇率上涨0.43%。 印尼和马来西亚的出口市场近期疲软，主要原因是持续的冲突导致对中东的出口减少，以及印度的需求疲软。 据路透社援引经销商的话报道，近期棕榈油价格上涨提升了其他食用油的竞争力，印度买家更倾向于选择大豆油和葵花籽油而非棕榈油。 马来西亚棕榈油理事会首席执行官贝尔温德·斯隆表示，价格上涨也抑制了撒哈拉以南非洲和亚洲的需求，这些地区的买家在进口方面采取了更为谨慎的态度，并推迟采购直至价格恢复正常。 据报道，斯隆称，在中国，需求模式正从棕榈油转向棕榈油制品，这使得印尼相对于马来西亚更具竞争优势。 尽管如此，东南亚主要的棕榈油生产国已宣布计划加快生物柴油项目，以确保国内能源供应，这反过来又增加了各自对棕榈油的本地需求。 马来西亚将于6月起将棕榈油生物柴油的掺混比例从目前的10%提高到15%，而印尼将于7月起将这一比例从40%提高到50%。 据报道，马来西亚的这项举措每年将额外消耗30万吨棕榈油，约占该国棕榈油总产量的4%至5%，Sron认为这对出口市场的影响“有限”。 相反，Sron表示，印尼的举措预计每年将额外消耗150万吨棕榈油，这将显著收紧出口供应。 路透社援引分析师Dorab Mistry的话说，由于生物柴油需求不断增长，预计未来几个月棕榈油期货价格将保持强势，6月份价格可能达到每吨5000林吉特，7月中旬可能接近每吨5200林吉特。
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Snap's (SNAP) first-quarter loss narrowed more than market expectations, although the social media company saw persistent headwinds in its North America advertising business and recorded an up to $25 million impact from the Middle East conflict, sending its shares down early Thursday.The Snapchat parent reported a net loss of $0.05 a share for the quarter ended March, compared with a loss of $0.08 the year before, it said late Wednesday. The consensus on FactSet was for a GAAP loss of $0.07 per share. Revenue improved 12% to $1.53 billion, in line with the Street's view."In (the first quarter), we demonstrated substantial financial progress with revenue at the top end of our guidance range," Chief Financial Officer Derek Andersen said during an earnings call, according to a FactSet transcript. "More broadly, we believe (the first quarter) provides early evidence that the strategic framework we laid out last fall is beginning to translate into more durable revenue growth, a more efficient cost structure, and a clear path to net income profitability."Advertising revenue inclined 3% to $1.24 billion, mainly boosted by gains in direct response advertising revenue, the company said in an investor letter. However, the growth was partially offset by continued headwinds in the group's North America large client advertising business, as well as an impact of about $20 million to $25 million from the Middle East war in March, according to Snap.The stock fell 9.8% in the most recent premarket activity."Large advertisers in North America remained a headwind to advertising growth in (the first quarter)," Chief Executive Evan Spiegel said on the call. "We're not satisfied with that outcome, but we're beginning to see encouraging signs that this part of the business is improving."Other revenue surged 87% to $285 million. Daily active users rose 5% to 483 million, ahead of the average analyst estimate of 475.7 million. Average revenue per user advanced to $3.17 from $2.96 in the prior-year quarter, but missed the market's forecast of $3.21.For the ongoing quarter, the company anticipates revenue to come in between $1.52 billion and $1.55 billion. The Street is looking for $1.54 billion. The guidance assumes that the operating environment in the Middle East "remains consistent" relative to the "magnitude" of headwinds that Snap faced in March and April. The company cautioned that the trajectory of the geopolitical situation in the region is uncertain.The US and Iran are reportedly closing in on a one-page memorandum of understanding to end their war and establish a framework for nuclear negotiations.Snap's outlook also assumes no contribution from Perplexity as it "amicably" ended its relationship with the software firm in the first quarter.In November, the company announced it was partnering with Perplexity to integrate its AI-powered answer engine with the chat interface of Snapchat. Perplexity was set to pay Snap $400 million for one year as part of the deal.
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