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Aditya Birla Real Estate Incorporates Step-Down Subsidiary for Property Development

Aditya Birla Real Estate (NSE:ABREL, BOM:500040) said its wholly owned subsidiary Birla Estates has incorporated Pragataya Properties, making it a step-down wholly owned subsidiary of the company, according to a Friday filing on Indian bourses.The new entity will undertake land acquisition and real estate development activities, the filing said.

BOM:500040NSE:ABREL

Commodities156d ago

Strike Risk Grows at Ichthys LNG in Australia as Workforce Votes Against New Contract

Japan's Inpex faces a growing labor standoff at its flagship Ichthys liquefied natural gas facility in Australia after employees voted against a new four-year enterprise agreement.An Inpex spokesperson confirmed in an email toon Friday that a majority of eligible workers did not endorse the 2026-2030 proposal, heightening the risk of strikes at a time when global energy markets are under strain amid the Iran war.The rejection comes as a blow to regional energy security, with the facility supplying 8% of Japan and Taiwan's gas imports amidst a global supply crunch.Inpex stated it will continue to "actively engage in the bargaining process in good faith" to address workforce feedback.Union members are currently participating in a separate ballot regarding protected industrial action, which is scheduled to conclude on April 24, according to a Reuters' report.

Commodities156d ago

Market Chatter: Valero Energy Partially Resumes Operations At Port Arthur Refinery

Valero Energy (VLO) has reportedly restarted its 380,000 barrels per day Port Arthur, Texas refinery, following an explosion and fire last month, which led to the unit being shut down, Reuters reported, citing two unnamed sources.According to reports, the 115,000 bpd AVU 147 crude distillation unit is back online, while the 210,000 bpd unit is still shut as its heater is still undergoing repairs.The AVU 146 unit accounts for roughly 2% of crude refining capacity across the U.S. Gulf Coast and about 3.4% of Texas's total, underscoring its importance to the region's energy security.Reuters noted that diesel prices rose by 16 cents per barrel on the day of the explosion, following news of its closure.Valero did not immediately respond to' request for a comment on this story.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Commodities156d ago

Market Chatter: California Gasoline Inventories at Lowest on Record, Likely to Dip More

California's gasoline inventories are at their lowest on record and analysts warn that the Middle East conflict's impact on the state's fuel supply is likely to become more severe in the coming weeks, Reuters reported Thursday.The state's gasoline prices have also risen sharply, to $5.86 per gallon versus a nationwide average of $4.09, the article said, citing the American Automobile Association. Californian price reflects a 26% increase since the start of the Iran war.Due to the fact that the state is not connected to US energy pipeline networks, it relies on refined product imports from Asia, leaving it particularly vulnerable given that Asia in turn is highly dependent on Middle Eastern countries for crude oil.California's Energy Commission said it is communicating regularly with the state's oil refineries to ensure adequate supplies of fuel, Reuters reported.Gasoline stocks in the state over the four weeks to April 10 averaged 9.44 million barrels, their lowest in the Energy Commission's data set which began in 2005.California generally has higher gasoline prices than the rest of the US due to taxes and also because of a unique gasoline blend that was developed to tackle smog that was once common over Los Angeles.An analysis by Michael Mische, professor at the University of Southern California, said that the worst impacts from reduced Middle Eastern crude outflows were yet to be felt in the state, Reuters said.He wrote that gasoline imports would fall sharply in the next two weeks and that this would soon begin to be noticed at the gas pump.California was once a major producer of crude oil but its reliance on importance has grown and its refining capacity has shrunk with the closure of two facilities.The Energy Commission said refineries in California were importing both crude and gasoline from alternative origins to the Middle East and said "We are not predicting a near-term supply challenge," Reuters reported.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Commodities156d ago

NWS Warns of Severe Thunderstorms in Central, Southern Plains; Flooding in Upper Great Lakes Region

The US National Weather Service on Thursday said the Central/Southern Plains are expected to experience severe thunderstorms on Friday, while the Upper Great Lakes region is likely to see continued flooding impacts through the weekend.The Plains and the mid-Atlantic regions will continue to experience fire weather concerns, while late-season snow is expected over the Northern/Central Rockies and the Northern Plains.The NWS issued a red flag warning early Friday for Silver City, Antelope Wells, Lordsburg, Deming, Hatch, Las Cruces, Orogrande, Alamogordo, Cloudcroft, Truth or Consequences, Glenwood, Ruidoso, Raton, Clayton, Roy, Las Vegas, Tucumcari, Clovis, Portales, Socorro, Santa Rosa, Moriarty, Albuquerque, and Santa Fe. TXNM Energy (TXNM) unit Public Service Co. of New Mexico and Xcel Energy (XEL) are among the primary electricity suppliers in the state.In Texas, a similar warning was raised for Perryton, Dumas, Borger, Pampa, Amarillo, Hereford, Plainview, Dimmitt, Lubbock, Littlefield, Morton, Childress, Matador, Post, and Clarendon in Texas. A freeze warning was issued for Dalhart. These places are primarily served by American Electric Power's (AEP) Texas unit and Xcel Energy.Oklahoma's Beaver, Alva, Woodward, Gage, Clinton, and Elk City were also placed under a red flag warning watch, while Boise City and Guymon were covered under a freeze warning alert. OGE Energy (OGE) unit Oklahoma Gas & Electric and American Electric Power subsidiary Public Service Co. of Oklahoma are the major electric utility service providers in the state.The NWS also issued a red flag warning for Colorado's San Luis, Alamosa, South Fork, and Saguache. Meanwhile, a freeze warning was raised for Colorado Springs, Limon, La Junta, Kim, Springfield, Trinidad, La Veta Pass, Pueblo, Eads, Wray, Flagler, Cheyenne Wells, Pikes Peak, Denver, Boulder, Greeley, Fort Collins, Castle Rock, Deer Trail, Newcastle, Julesburg, Sterling, Boulder, Akron, Deer Trail, Cortez, Pagosa Springs, Durango, Nucla, Montrose, Grand Junction, Rifle, Rangely, Meeker, and Craig.The state is primarily served by Xcel Energy and Black Hills (BKH) unit Black Hills Energy.A freeze warning was also raised for Utah's Brigham City, Ogden, Salt Lake City, Tooele, Provo, Nephi, Delta, Manti, Richfield, Milford, Cedar City, Bluff, Blanding, Green River, Moab, Escalante, Capitol Reef National Park, Price, Duchesne, and Vernal. PacifiCorp's Rocky Mountain Power is the major service provider in the state.In Idaho, a freeze warning was issued for Lewiston, Caldwell, Boise, Mountain Home, Jeronte, Twin Falls, Shoshone, Arco, Pocatello, Blackfoot, Idaho Falls, Rigby, and Rexbury, primarily served by Idacorp's (IDA) Idaho Power and Rocky Mountain Power.Also covered under a freeze warning watch were Washington's Wenatchee, Moses Lake, Ellensburg, Yakima, Sunnyside, Pasco, Connell, Walla Walla, Chelan Coulee Dam, and Ritzville. Puget Sound Energy, PacifiCorp's Pacific Power, and Avista (AVA) unit Avista Utilities are among the major electricity service providers in the state.Oregon's Cave Junction, Gold Beach, Ashland, Medford, Grants Pass, Shady Cove, Cottage Grove, Corbett, Albany, Sweet Home, Eugene, Salem, Molalla, and The Dalles. Pacific Power is among the service providers in these places.In California, California's Gasquet, Crescent City, Trinidad, Willow Creek, Weaverville, Fortuna, Eureka, Garberville, Shelter Cove, Willits, Ukiah, Lakeport, Portola, Bieber, Susanville, and Cedarville. These places are primarily served by Pacific Power and PG&E (PCG) unit Pacific Gas and Electric Company.A similar warning was issued for Nevada's Lovelock, Fallon, Carson City, Reno, Hawthorne, Winnemucca, and Gerlach, which fall under the service area of Berkshire Hathaway Energy unit NV Energy.Also placed under a freeze warning watch were Wyoming's Cody, Greybull, Worland, Riverton, Lander, and Thermopolis. Meanwhile, a winter storm warning was issued for Jackson, Dubois, and Pinedale, primarily served by Rocky Mountain Power.The NWS issued a flood warning for Michigan's Muskegon, Alma, Grand Rapids, Hastings, Ionia, Lansing, Pentwater, Saginaw, Petoskey, Rogers City, Alpena, Gaylord, Mio, Traverse City, Houghton Lake, Tawas Lake, Cadillac, Houghton, Marquette, Iron Mountain, Escanaba, and Menominee. CMS Energy (CMS) unit Consumers Energy, DTE Energy, WEC Energy Group (WEC) subsidiaries Upper Michigan Energy Resources and We Energies, Upper Peninsula Power Company, and Xcel Energy are among the major service providers in these places.In Wisconsin, flood warning were raised for Janesville, Kenosha, Prairie Du Chien, Wisconsin Dells, Milwaukee, Appleton, Madison, Beaver Dam, Stevens Point, Green Bay, and Rockford. WEC Energy Group's Wisconsin Public Service, Xcel Energy, and Alliant Energy (LNT) are among the major service providers in the state.Flood warnings were also issued for certain parts of Minnesota, Iowa, Missouri, Illinois, Indiana and Ohio.

$AEP$AVA$BKH$CMS$IDA$LNT$OGE$PCG$TXNM$WEC$XEL

Commodities156d ago

Asia Biofuels Update: Malaysian Palm Oil Down; Another Weekly Decline Expected

Malaysian palm oil futures slipped on Friday and were set for another weekly drop, as crude oil and soybean oil eased, and as weakening exports weighed on sentiment.The Bursa Malaysia Derivatives' May crude palm oil contract fell 0.8% to 4,408 Malaysian ringgit ($1,114.40) per metric ton, and the June contract edged lower by 0.7% to 4,447 ringgit/mt. Both contracts were on track for 2% weekly declines, on top of a 6% drop last week due to crude oil price moderation.Signs of easing geopolitical tensions in the Middle East, likely resulting in lower energy prices, could reduce competitiveness of biofuels, at a time when top palm oil producers are just about to begin higher blending in biodiesel.Indonesia, the world's top palm oil producer, is planning to raise its biodiesel mandate in H2 to 50%, or B50, from the current B40 blend, a change which is likely to reduce exportable supply.The second-largest producer, Malaysia, which is currently implementing a B10 program, is expected to begin a roll-out of B12 soon, with plans to increase that to B15 at a later time.The third-largest producer, Thailand, has just begun introducing its B7 program, an increase from the previous B5.Diesel supply has been heavily impacted by the Middle East conflict, prompting Southeast Asian palm oil producers to raise biodiesel blending ratios, to help meet domestic market needs.Malaysia's export market is expected to gain competitiveness as a result, potentially boosting shipments. Its exports declined 34% in the first 15 days of April versus the same period of March, due to high prices.Key importers India and China are likely to defer purchases once the market stabilizes, The Edge Malaysia reported, citing CGS International.Nonetheless, India may still prefer palm oil over other vegetable oils due to its cost competitiveness, according to the Minister of Plantation and Commodities Seri Noraini Ahmad, as cited by the news agency.India may also start replenishing stocks ahead of seasonal demand and after imports dropped to a three-month low in March, Trading Economics said.In China, frequent cancellations of imports have lifted domestic prices, providing a "strong" floor for palm oil futures, according to Chinese price reporting agency MySteel.

Commodities156d ago

OneSubsea, Toyo Partner to Advance Carbon Capture in Southeast Asia

OneSubsea and Toyo Engineering are exploring carbon capture projects in Southeast Asia, signaling rising investment in CCS, Oil Cyprus said Wednesday.The partnership will focus on identifying and developing carbon capture and storage opportunities across the region, targeting emissions reduction from existing and future energy operations.Toyo Engineering will contribute its expertise in engineering, procurement, and construction, supporting project development and infrastructure deployment for CCS initiatives, Oil Cyprus added.The collaboration is expected to accelerate the adoption of carbon capture technologies across Southeast Asia's oil and gas industry, where decarbonization efforts are gaining momentum.It may also encourage further investment in CCS infrastructure, helping reduce emissions while supporting continued energy production in the region, the report added.The move highlights the growing role of CCS in helping energy companies meet climate targets while maintaining long-term operational and revenue sustainability.OneSubsea was established in 2023 as a joint venture backed by SLB.

Commodities156d ago

US Natural Gas Update: Futures Rise Supported by Weather Shift

US natural gas futures extended gains in after-hours trading on Thursday, supported by shifting weather forecasts that prompted late-session buying after a larger-than-expected storage build.The front-month Henry Hub contract and the continuous benchmark each climbed 2.41% to settle at $2.673 per million British thermal units.Barchart said prices moved higher late Thursday as a mixed weather outlook triggered short-covering. It cited the Commodity Weather Group as saying forecasts shifted cooler across the eastern two-thirds of the US through Apr. 20, while above-average temperatures are expected in the eastern US and Upper Midwest from Apr. 21-25.Earlier on Thursday, the US Energy Information Administration reported its third consecutive weekly inventory increase, stating that stockpiles in underground storage rose by 59 billion cubic feet to 1,970 Bcf for the week ending Apr. 10. The build exceeded market expectations for a 55 Bcf increase, according to data from Investing.com.Inventories were now 126 Bcf above year-ago levels and 108 Bcf above the five-year average of 1,862 Bcf, though they remain within the historical five-year range, the EIA said. The latest injection also surpassed last year's 22 Bcf build and the five-year average increase of 38 Bcf.On the supply side, US lower-48 dry gas production was estimated at 110.7 Bcf per day on Thursday, up 3.3% year over year, Barchart said, citing BNEF. Demand in the lower 48 states was 70.0 Bcf per day, down 4.3% from a year earlier. Estimated LNG net flows to export terminals were 19.9 Bcf per day, unchanged week over week.Gelber & Associates said supply, US production plus Canadian imports, was running at 114 Bcf per day against demand of 105 Bcf per day. On the demand side, power burn has improved to 32 Bcf per day on a weekly basis, but that support has been offset by a sharp drop in residential and commercial demand to 13.5 Bcf per day from 20.8 Bcf per day last week as heating demand continues to decline."With the storage surplus widening and the broader balance still comfortable, the front of the curve looks likely to stay under pressure unless weather can generate a more durable demand response," Gelber & Associates said early Thursday.

Commodities156d ago

UK's Drax Gets Record $1.4 billion Subsidy in 2025 As Support Set To Be Halved, Ember Says

UK's Drax Group received a record 999 million British pounds ($1.4 billion) in public subsidies in 2025 for its biomass power station, even as support is set to be cut from 2027, Ember strategists said in a note Thursday.Ember analysts said the payments, funded through consumer energy bills, amount to about 2.7 million British pounds per day and add about 13 British pounds to the average UK household bill per year.Frankie Mayo, senior UK analyst at Ember, said, subsidies are set to fall to about 460 million British pounds per year from early 2027, marking the start of a phase-out of support for large-scale biomass generation.Mayo said that would still amount to about 1.25 million British pounds per day, or about 6 British pounds per household annually.Drax operates the UK's largest power station by output and is also its single biggest carbon emitter. However, emissions from burning woody biomass are classified as carbon-neutral under current accounting rules, allowing it to qualify for renewable energy subsidies.Ember said support has been delivered through two schemes, the Renewables Obligation, which paid 728 million British pounds in 2025 for three of Drax's generating units, and Contracts for Difference, which provided 271 million British pounds for a fourth unit.Total subsidies paid to Drax since 2012 have reached 8.72 billion British pounds, the majority of which have been through the RO scheme, which is due to end in Q1 2027.Ember said a new, lower CfD mechanism will replace it, with the contract running for up to four years until 2031. Though the strike price under the new scheme will rise to 157 British pounds per megawatt hour in 2024 prices, the volume of subsidized generation will be capped at lower levels.However, despite the reduction in support, Ember expects Drax to remain the UK's largest emitter through at least 2030 due to the scale of its operations.The long-term outlook for the plant remains uncertain, as Drax has stepped back from plans to invest in carbon capture technology, which had been central to its case for continued subsidies. Without carbon capture, Ember analysts say the rationale for ongoing public support weakens significantly.The energy firm has already scaled back related projects and shifted investment towards other energy technologies, raising further questions over the future role of biomass in the UK's power mix.

Commodities156d ago

European Commission Opens Probe Into $3.8 Billion Romania Nuclear Support

The European Commission said Thursday it opened a probe into Romania's 3.2 billion euros ($3.77 billion) nuclear aid plan for Cernavoda Unit 1, citing concerns over State aid compliance.Romania notified the Commission in January 2026 of plans to refurbish and extend the reactor's life while maintaining its 706-megawatt capacity, allowing operations to continue for another 30 years.The reactor, operational since 1996, supplies about 10% of Romania's electricity, and its upgrade is seen as critical to ensuring long-term low-carbon power availability, the Commission said.The project also aims to strengthen energy security and support the European Union's decarbonization goals, with state-owned Nuclearelectrica National Company acting as operator and beneficiary.The total estimated value of the refurbishment project stands at 3.2 billion euros, reflecting the scale of investment required to extend the plant's operational life, according to the Commission.Romania plans to fund the project through a mix of support measures, including a 600-million-euro grant and state-backed guarantees for loans tied to the investment.Additional support includes a two-way contract for differences running for 30 years to stabilize revenues, alongside protections against regulatory changes during construction and operation.The Commission said its initial review found the project necessary and supportive of economic activity but raised doubts over whether the aid fully complies with European Union rules.The Commission is questioning whether the aid package is too large, as the mix of support measures may reduce the operator's financial risk by more than necessary.The Commission said it is also reviewing whether the plan continues to encourage efficient operations while ensuring the state does not take on too much of the project's risk.Further scrutiny will examine the potential impact on market competition, including whether the Contract for Difference design weakens operational or maintenance incentives, the Commission added.The Commission said it also raised concerns about whether safeguards are strong enough to prevent the aid from indirectly benefiting consumers or certain market participantsThe investigation will now allow Romania and third parties to submit feedback, with the Commission stressing that the review does not prejudge the final outcome.

Commodities157d ago

US Biofuels Update: Soybean Futures, Soybean Oil Futures Diverge

Biofuels feedstock futures closed mixed on Wednesday, as soybean futures dropped while soybean oil rose, signaling peace optimism amid the US-Iran negotiations.The Chicago Board of Trade May soybean futures contract closed 0.28% lower at $11.63 per bushel, while the CBOT May soybean oil futures contract settled 2.56% higher at 69.33 cents per pound.On Wednesday, the May ethanol futures contract on the Nymex ended 0.91% lower at $1.91 per gallon.Rhett Montgomery, DTN analyst, said soybean futures have been trading in a 20-cent range over the past month as traders await further price clues."Soybean futures retreated on Thursday, despite a strong move higher for soybean oil, and optimism for a resumption of peace negotiations between the US and Iran," Montgomery stated in a daily note.On Thursday, the US Department of Agriculture Weekly Export Sales Report showed that soybean export sales for the week ended Apr. 9 totaled 9.1 million bushels, a marketing-year low, as old-crop sales continue on their lower seasonal path.Shipments, however, were seasonally strong at 30.1 mb. All totaled, commitments have reached 1.402 billion bushels for the current season and remain 18% lower than the same point in 2025.

Commodities157d ago

Market Chatter: EU Pushes to Accelerate Green Transition as Iran Crisis Jolts Fuel Markets

The European Union is preparing to accelerate the transition to clean energy, framing the shift as a national security imperative amid the Middle East conflict, which has roiled global energy markets, Politico reported on Thursday, citing a draft agreement.Foreign ministers from the EU's 27 member states are expected to sign off on a strategic overhaul of the bloc's energy diplomacy next Tuesday, the report said. The proposed conclusions emphasize the need to strengthen energy security and strategic autonomy amid heightened geopolitical risks.With global energy markets roiled by the Iran conflict, the draft frames accelerating clean energy deployment as the central policy response, positioning the transition as both an economic and a security imperative.EU officials warned that escalating hostilities in Iran and the broader Middle East pose mounting risks to both regional stability and the global economy, the report said, citing a draft statement backed by the bloc's Political and Security Committee on April 14.The European Commission did not immediately respond to' request for comment.The text, which still requires approval from EU ambassadors and foreign ministers, underscores Europe's continued vulnerability stemming from its heavy reliance on imported fossil fuels. It argues that accelerating the shift toward domestically produced clean energy is the most effective path to strengthening the bloc's strategic autonomy.EU member states said that faster deployment and integration of renewable and low-carbon energy sources would help lower energy costs and enhance economic resilience. The transition, they added, is central to reinforcing both energy security and broader economic sovereignty.The draft also calls on the EU to prepare for the geopolitical and trade implications of a steady decline in fossil fuel import demand over the next decade, signaling a potential reshaping of global energy relationships.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Commodities157d ago

EU Backs Six Spanish Cities With EIB Advisory Push to Scale Electric Mobility by 2030

The European Investment Bank, working with the European Commission, has launched a joint technical advisory service to accelerate electric mobility and support climate neutrality in six Spanish cities, EIB said in a statement on Wednesday.The initiative, delivered through the EIB's advisory arm, will support Barcelona, Madrid, Seville, Valencia, Valladolid, and Zaragoza in scaling up charging infrastructure and integrating electric vehicles into urban transport systems.The advisory service aims to help participating cities assess investment needs for charging networks and plan phased deployment through 2030. It will also support coordination between public and private stakeholders, identify relevant European funding sources and develop contractual frameworks, including public-private partnerships, to advance sustainable mobility projects.All six cities are part of the European Union's Climate-Neutral and Smart Cities Mission and hold the EU Mission Label. The advisory program is financed through the InvestEU Advisory Hub and was formally launched at a meeting attended by representatives of the cities, the EIB, and the Commission.Officials said the initiative also seeks to develop models that can be replicated across Spain and other EU member states, fostering collaboration between public authorities, private investors, and technical experts. The approach is intended to accelerate investment, create scalable solutions and strengthen the role of Spanish cities in advancing sustainable urban mobility.The advisory support is not tied to EIB financing and will focus on building a pipeline of e-mobility projects, identifying and addressing investment barriers, promoting collaboration among stakeholders and establishing metrics to measure long-term environmental impact.

Commodities157d ago

US Natural Gas Update: Futures Rise on Storage Build, Shifting Weather Outlook

US natural gas futures moved higher in midday trading on Thursday after a larger-than-expected storage build and updated weather forecasts supported prices.The front-month Henry Hub contract and the continuous benchmark both rose 0.92% to $2.634 per million British thermal units.The US Energy Information Administration reported its third consecutive weekly inventory increase, saying stockpiles in underground storage rose by 59 billion cubic feet to 1,970 Bcf for the week ending Apr. 10. The build exceeded market expectations for a 55 Bcf increase, according to data from Investing.com.Inventories stood 126 Bcf above year-ago levels and 108 Bcf above the five-year average of 1,862 Bcf, but remain within the five-year historical range, the EIA said.Regarding prices, NRG Energy said, "Overall, the near-term market has found a new floor since the lows that were experienced in early January."NRG said near-term weather forecasts point to significant heat anomalies across the South and East, with a cold front expected to move through by the weekend. This will be followed by a brief warm-up in the Plains and cooling conditions across the Northeast. The latter half of the outlook suggests gradual moderation, with cooler risks returning across much of the country, particularly in the central US.On fundamentals, Aegis Hedging said weaker consumption has offset softer production in recent weeks."While production may have been low these last two weeks, total consumption has been even lower," the firm said, citing S&P data."Total consumption (power, rescom, and industrial demand) has been below 70 Bcf per day for about a week now," it said.Production eased across much of the Lower 48 states but remained near 103.5 Bcf/d of dry gas output, supported by gains in Texas, Aegis said.On exports, Aegis noted that Corpus Christi LNG Stage 3 Train 6 could begin flowing gas by May, while Golden Pass LNG is expected to reach about 450 million cubic feet per day next week, signaling improving throughput consistency.

Commodities157d ago

Update: CFTC Reportedly Probes Oil Futures Trades Timed Ahead of Iran-Related Policy Moves

(Updates with comments from the White House, ICE and CME in paragraphs five to nine.)The US Commodity Futures Trading Commission is investigating a series of oil futures trades executed shortly before major US policy developments tied to President Donald Trump's handling of the Iran conflict, news outlets reported on Wednesday.The inquiry is reportedly examining trading activity in crude oil futures on exchanges operated by CME Group (CME) and Intercontinental Exchange (ICE), focusing on at least two instances on Mar. 23 and Apr. 7.Investigators have requested exchange records, including so-called "Tag 50" identifiers that can reveal the entities behind the trades, the reports said.The scrutiny follows concerns raised by market participants and at least two Democratic senators that the unusually well-timed trades may have generated significant profits and could indicate the use of non-public information.Responding to' query, Davis Ingle, White House spokesperson, said all federal employees are subject to government ethics guidelines prohibiting the use of non-public information for financial benefit."However, any implication that administration officials are engaged in such activity without evidence is baseless and irresponsible reporting. The CFTC will always uphold its duty to monitor fraud, manipulation, and illicit activity daily," Ingle added.ICE declined to comment in response to' request.CME Group's spokesperson Anita Liskey told, "Nothing is more important than market integrity. At CME Group, we vigorously surveil our markets and work closely with the CFTC to oversee trading activity.""Importantly, any review of market behavior must include all venues, including prediction markets like Polymarket and Kalshi that list related products with little to no visibility," she said in an emailed response.The CFTC did not immediately respond to requests for comment.On Mar. 23, oil and stock futures worth billions of dollars were traded 15 minutes before Trump said previously threatened strikes on Iranian energy infrastructure would be delayed.Last week, investors placed roughly $950 million in bullish oil positions hours before the US and Iran announced a ceasefire, the reports said.The White House is reported to have previously cautioned staff against using sensitive government information for personal trading in futures markets during the ongoing Iran conflict.Last month, the CFTC's enforcement director said the agency was monitoring potential market misconduct and manipulation in energy markets and was aware of recent speculation about insider trading in CFTC-regulated products.Price: $163.49, Change: $-1.58, Percent Change: -0.96%

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Commodities157d ago

EMEA Natural Gas Update: Futures Rise on Ongoing Supply Risks

European natural gas futures extended gains in after-hours trading Thursday, holding firm despite diplomatic signals that could ease geopolitical tensions in the Middle East.The front-month Dutch TTF contract rose 1.766% to 42.13 euros ($49.63) per megawatt-hour, while UK NBP futures climbed 1.785% to 105.52 British pence ($1.43) per therm.Prices traded above 42 euros/megawatt-hour but remained near their lowest levels in more than six weeks, as markets balanced tentative progress toward de-escalation against ongoing supply risks, Trading Economics said.News reports indicated the US and Iran are engaged in indirect talks to extend a current two-week ceasefire beyond its Apr. 22 expiry, potentially allowing more time for negotiations tied to the broader US-Israel-Iran conflict. Separately, Lebanon and Israel were also reported to have agreed to a ceasefire on Thursday.However, uncertainty persists around the Strait of Hormuz, a critical chokepoint for global energy flows through which roughly one-fifth of LNG shipments pass. The waterway remains heavily disrupted, with the US blockading Iranian shipping and Tehran restricting passage for most other vessels.Chairman of the US Joint Chiefs of Staff, General Dan Caine, said in a Thursday press briefing that the US blockade applies only to Iranian ports and coastline, not the Strait itself. He added that US Central Command had not boarded any vessels in the area as of Thursday morning, while noting that similar maritime interdiction actions are being conducted in the US Indo-Pacific Command area of responsibility against ships that departed before the blockade was imposed.Caine said 13 ships had turned around and opted not to transit the Strait, up from six vessels cited earlier in the week.Supply concerns were also compounded by expectations that Qatar's Ras Laffan facility, the world's largest LNG export complex, will not return to full operations until August, even if restart efforts begin in May, Trading Economics reported.Traders were also weighing improving peace prospects against lessening natural gas needs as winter heating demand fades and renewable energy output strengthens. Natural gas inventories remain below 30% of capacity in the EU, and restocking ahead of winter has started.Meanwhile, investment funds reduced their net long positions in TTF by 37 terawatt hours to 271 TWh in the week ended Apr. 10, Investing.com reported, citing information from ING."Clearly, the longer disruptions in the Middle East persist, the more competition we'll see from Asia as buyers seek alternative supplies," ING analysts wrote.In Asia, LNG prices edged lower, though supply constraints remain a key concern, ANZ analyst Daniel Hynes said in a note Thursday.Asian LNG imports have fallen to their lowest levels since 2020. China's 30-day moving average for LNG imports stood at 108,000 tonnes as of April 14, down 32% from a year earlier, Hynes added.

Commodities157d ago

Weekly RIN Values Mostly Dropped, EcoEngineers Says

The Renewable Identification Numbers weekly markets traded mostly lower for the week ending Apr. 15, according to EcoEngineers Carbon Market Snapshot.For the week from April 8-15, current year D4 biomass-based diesel RIN prices traded at $1.81 per RIN on Tuesday, up from $1.79/RIN a week ago.D5 advanced biofuel RINs were trading at about $1.77/RIN, compared with $1.79/RIN a week earlier.D6 corn-based ethanol RIN prices finished trading on Thursday at $1.74/RIN, below $1.77/RIN a week ago.

Commodities157d ago

Gulf Energy Repair Bill Could Hit $58 Billion Amid Supply Chain Strain, Rystad Says

The cost of repairing energy infrastructure damaged by the Middle East conflict could reach $58 billion, with broader knock-on effects likely to delay global energy projects, Rystad Energy strategists said in a note on Wednesday.The total costs for oil and gas facilities alone are projected to reach $50 billion, with overall repair spending across energy, power, and industrial assets ranging from $34 billion to $58 billion. The midpoint estimate stands at $46 billion.Rystad said the scale of destruction has expanded in recent weeks following continued military strikes across parts of the region, before easing after an Apr. 8 ceasefire between the US and Iran.Though capital is available for reconstruction, Satwani said the main constraint is now access to equipment, contractors, and logistics capacity rather than financing."This is no longer just a story about damaged facilities in the Gulf. It is a stress test for the global energy supply chain," Karan Satwani, senior analyst, supply chain research at Rystad Energy, said. "Repair work does not create new capacity; it redirects existing capacity."Rystad said that competition for engineering and construction resources is already intensifying as contractors remain committed to a wave of liquefied natural gas and offshore projects sanctioned since 2023, raising the risk of delays and inflationary pressure across global energy investment.The consultancy said recovery timelines are diverging depending on the severity of damage and local execution capacity, with some lightly affected facilities restarting within weeks. However, heavily damaged assets requiring major equipment replacement could take years to restore.Downstream refining and petrochemical plants account for the largest share of estimated costs, followed by upstream and midstream assets.Meanwhile, at a country level, Iran faces the largest impact, with potential repair costs of up to $19 billion, driven by damage to gas processing facilities at South Pars, petrochemical complexes, and refining and export infrastructure.Rystad said Qatar's damage profile is more concentrated but technically complex, centered on Ras Laffan Industrial City, where liquefied natural gas facilities and gas-to-liquids assets have been affected, potentially slowing ongoing expansion projects.The consultancy said that engineering, procurement, and construction activity will account for the largest share of spending, noting that equipment bottlenecks and long-lead delivery times will determine the pace of recovery.Fatih Birol, executive director of the International Energy Agency, reportedly said that more than 80 energy facilities have been attacked in the Middle East since the outbreak of the conflict on Feb. 28.

Commodities157d ago

RFA Presses Congress to Pass Nationwide, Year-Round E15 Gasoline Sales

The Renewable Fuels Association urged lawmakers to honor their commitments, as Congress has yet to vote on a package allowing nationwide, year-round sales of E15 gasoline.The RFA, in a letter to lawmakers on Wednesday, reminded them that almost two months have passed since the House E15 Rural Domestic Energy Council's deadline for introducing legislation permanently allowing nationwide, year-round sales of E15.E15 is a blend of gasoline typically not sold in the summer months due to rules limiting smog.Last month, the Environmental Protection Agency and the US Department of Energy issued a temporary emergency fuel waiver to allow nationwide sales of E15, and to remove all federal impediments to selling E10, gasoline blended with 10% ethanol, across the country."With the House and Senate now back in session, and with gasoline prices hovering near record highs, we are again calling on Congress to honor its commitments and quickly adopt legislation providing year-round access to lower-cost E15," RFA President and CEO Geoff Cooper said."The stakes have never been higher for America's farmers, who are facing the worst economic conditions in nearly 50 years, and for America's working families, who have seen prices at the pump surge by over $1 per gallon in the last month," he added.Furthermore, Cooper stressed, nationwide E15 sales set a new record in 2025, jumping 23%. Iowa E15 sales broke records, increasing 60% in 2025.Additionally, a nationwide poll in March showed overwhelming support for expanding E15 to lower pump prices.E15 is currently offered at over 3,000 gas stations nationwide.

Commodities157d ago

European Lenders Agree New Framework to Speed Co-Financing, EIB Says

The Council of Europe Development Bank, the European Bank for Reconstruction and Development, and the European Investment Bank signed a pact to simplify procurement and speed up joint public project financing, the EIB said Thursday.The tripartite Mutual Reliance Agreement aims to streamline procurement in co-financed public sector projects outside the European Union, improving coordination, efficiency, and integrity, EIB said.The deal was signed on the sidelines of the World Bank Group and International Monetary Fund Spring Meetings in Washington, marking a step forward in multilateral cooperation.It builds on existing bilateral frameworks and aligns with the Group of Twenty roadmap to create "bigger and more effective" multilateral development banks, strengthening system-wide coordination, according to EIB.Under the framework, one lender can act as lead financier, allowing others to rely on its procurement and safeguard systems, reducing duplication and administrative burden, EIB added.The agreement is expected to ease co-financing processes, enabling faster project execution and improved access to funding for countries outside the European Union.It also introduces a joint "Covenant of Integrity" to ensure high standards of transparency and accountability, while preserving each institution's independent policies and decision-making authority, according to EIB.EIB Vice-President Ambroise Fayolle said the move will help countries deliver projects "faster and at lower cost," adding it reflects lenders working together to achieve tangible results while maintaining safeguards.

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Commodities156d ago

NWS Warns of Severe Thunderstorms in Central, Southern Plains; Flooding in Upper Great Lakes Region

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