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Latest Market News Of Energy & Petroleum

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Kandla Port promises to reduce vessel congestion to facilitate import of edible oil

Kandla Port promises to reduce vessel congestion to facilitate import of edible oil

Kandla Port assures to tackle vessel congestion to ensure smooth edible oil imports, implementing upgrades like new pipelines and utilizing two additional docks.
Bengaluru-Kolar highway will have ten lanes to meet growing traffic, freight needs

Bengaluru-Kolar highway will have ten lanes to meet growing traffic, freight needs

NHAI plans to widen the Bengaluru-Kolar highway (NH-75) to 10 lanes, including service lanes, covering 69 km in Karnataka. This aims to ease traffic congestion and boost regional growth.
NTPC taps SEforALL for energy transition strategy

NTPC taps SEforALL for energy transition strategy

NTPC partnered with SEforALL to create an energy transition plan, including a 60 GW renewable energy capacity target by 2032, shifting from thermal to cleaner energy.
Aluminium hits three-month highs after US airstrikes on Iran

Aluminium hits three-month highs after US airstrikes on Iran

Aluminium prices hit three-month highs after US airstrikes on Iranian nuclear facilities, sparking concerns about energy price increases and Middle Eastern metal shipment disruptions.
Aluminium outperforms copper on energy cost concerns amid US-Iran tensions

Aluminium outperforms copper on energy cost concerns amid US-Iran tensions

Aluminum prices surged ahead of copper due to rising energy costs, a key factor in aluminum production, fueled by US strikes on Iranian military sites.
Freight rates decline in May for Brazilian finished steel imports

Freight rates decline in May for Brazilian finished steel imports

Brazil's average steel import freight rate dropped to $54/mt in May from $60/mt in April. China accounted for 72% of May imports, down slightly from 73% in April. HRC freight from China was $47/mt, and from South Korea $57/mt.
SMM Weekly Maintenance Summary as of June 23

SMM Weekly Maintenance Summary as of June 23

Pig iron production impacted by maintenance is expected to rise to 1.0856 million mt next week, up 55,200 mt. Building materials output will decrease by 122,300 mt to 1.1466 million mt, while hot-rolled steel production will fall by 32,800 mt to 19,600 mt.
Turkey continues AD duties on stainless steel welded pipes from China, Taiwan

Turkey continues AD duties on stainless steel welded pipes from China, Taiwan

Turkey extends anti-dumping duties on stainless steel welded pipes from China (13.82%-20.50%) and Taiwan (7.98%-11.50%) for five more years.
Putin sees no need for rapid oil output hike in response to price jump

Putin sees no need for rapid oil output hike in response to price jump

President Putin stated that the recent oil price surge due to the Iran-Israel conflict doesn't necessitate an immediate output increase. Russia will continue to coordinate production levels with OPEC+.
Morning Bid: Oil keeps calm, MidEast conflict carries on

Morning Bid: Oil keeps calm, MidEast conflict carries on

Oil prices initially rose after a U.S. strike on Iran but retreated. Global oil production capacity exceeds demand by 4 million barrels/day, limiting price surges.

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