Energy Update
Australian wheat export activity was mostly centered on India, from where there continued to be buying inquiries, traders reported May 11. At least three cargoes of Indian-spec APW were concluded in the week from April 28 to May 5, Platts market data shows, typically between $223-$227/mt FOB.
CALGARY, Alberta, May 11 (Reuters) - Workers for one of the
largest oil sands companies affected by a massive wildfire in
northern Canada will begin returning to the shuttered facilities
on Thursday, a union official said on Wednesday, offering the
latest indication that the key petroleum production area was
slowly coming back online.
The domestic situation: EU sugar prices rose in April. In the deficit regions in the South prices hit Eur615/mt, up from Eur595/mt at the start of the month.
In the Western EU prices peaked in mid-month at Eur575/mt from Eur560/mt at the beginning of the month, and fell back to Eur560/mt at the end of April.
NEW YORK, May 11 (Reuters) - U.S. crude stockpiles fell
unexpectedly last week for the first time since March as imports
slipped, U.S. government data showed on Wednesday.
French utility ENGIE has purchased an 80 percent stake in California-based energy storage provider Green Charge Networks.
NEW YORK, May 11 (Reuters) - U.S. independent oil refiners,
such as Marathon Petroleum and Phillips 66, are
shelving projects and tightening budgets, as a global glut of
diesel and gasoline erodes profits, ending a golden era of high
refining margins.
BERLIN, May 11 (Reuters) - The German government has
proposed reducing support for onshore wind energy by 7.5 percent
for two years from January 2017, according to a draft proposal
for a meeting on renewable energy between the federal government
and Germany's 16 states.
May 11 (Reuters) - Oil prices jumped more than 2 per cent on
Wednesday after the U.S. government reported a big U.S. crude
inventory draw for last week, surprising analysts who had
expected a build instead.
Mars Inc., the closely-held maker of M&M’s candies and Uncle Ben’s rice, signed a deal to buy power from a wind farm in Scotland that will offset all the pollution it produces from its U.K. facilities.
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