Global News Summary

10.17.08

Friday Edition

GLOBAL Oil rose above $70 on Friday, recovering from a 16-month low to join a...

10.15.08

Wednesday Edition

GLOBAL Oil prices dipped below $75 a barrel Wednesday, a new 13-month low, as...

10.13.08

Monday Edition

GLOBAL The Dow Jones industrial average surged more than 400 points in early ...

10.10.08

Friday Edition

GLOBAL Stocks tumbled on Friday, sending the benchmark S&P 500 below 9000 for...

10.08.08

Wednesday Edition

GLOBAL Central banks around the world cut short-term interest rates by up to ...

10.06.08

Monday Edition

GLOBAL Stocks tumbled around the world, the Euro fell the most against the Ye...

10.03.08

Friday Edition

GLOBAL Crude oil is poised for the largest weekly drop since 2004, after a U....

10.01.08

Wednesday Edition

GLOBAL If crude petroleum oil is around $100/barrel-plus or minus 10%, CPO p...

09.29.08

Monday Edition

GLOBAL Worries that a slowing US and world economy will cool oil demand are t...

09.26.08

Friday Edition

GLOBAL The Sustainable Aviation Fuel Users Group, an organization to accelera...

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Wednesday Edition

04.28.10

North America

EPA TO BEGIN ANALYSIS OF PROPOSED CLIMATE BILL
The US EPA will begin analyzing a compromise climate change bill Sen. John Kerry hopes to move through the Senate this year, despite a significant setback this week, Kerry said Tuesday. The EPA will examine the economic impact the bill would have from provisions aimed at reducing pollution blamed for global warming, Reuters reports.


US CLIMATE BILL DELAY FRUSTRATES CARBON MARKET INVESTORS
Delay to a draft of a US climate bill this week has frustrated investors in the voluntary carbon market, who were tipping it to become the template of a federal climate change bill. Many investors are looking for any positive steps toward a climate bill before committing themselves to the voluntary market, Reuters reports.


South America

OIL WORKERS IN ARGENTINA TO STRIKE APRIL 30
Argentine oil workers plan to strike at refineries in seven locations after two months of salary talks failed, threatening to cause a fuel shortage, Alberto Roberti of the Federation of Oil, Gas and Biofuel Workers, stated. Workers plan a complete halt in Lujan de Cuyo, La Plata, Bahia Blanca, Salta, San Lorenzo, Dock Sud and Campana starting April 30, Bloomberg reports.


ARGENTINA SOY HARVEST SLOWED ON RAINS
Argentina's Agriculture Ministry said that the country's soy harvest was slowed over the past week after heavy showers muddied fields. So far, farmers have harvested 54% of the soybean crop, down from 67% at this period last year, CME reports.

BRAZIL HARVESTS 94% SOY CROP
According to Celeres, Brazilian farmers harvested 94% of the upcoming 2009-10 soy crop as of April 23. Brazil's soy harvest remains ahead of a five-year average of 94% of soy harvested at this time of year, CME reports.

Europe

EBB WITHDRAWS FROM ROUNDTABLE ON SUSTAINABLE BIOFUELS
The European Biodiesel Board has withdrawn from the Roundtable on Sustainable Biofuels stating, “The reason for this is that although the initial project that you developed would have been interesting, in reality the work that the RSB is performing is becoming excessively complex and theoretical in the sense that it does not keep into consideration the pragmatic implementation of what you intend to develop."

GERMAN ENGINE MAKER APPROVES BIODIESEL
German engine maker Deutz AG released a service fluid recommendations announcement on April 26 approving biodiesel for different engine applications. All Deutz engines from Tier 4 Interim/Stage III B are approved for at least B7 use. Read more


ITALY PRODUCES 20% ELECTRICITY WITH RENEWABLES
Italy produced more than 20% of electricity from renewable energy, moving closer to EU green targets, Italy's Economic Development Minister said Wednesday. Italy has a non-binding target of producing 22% of its power from renewable sources in 2010, Reuters reports.


Market Analysis

PALM OIL FALLS FOR SECOND DAY, TRACKING CRUDE OIL
Palm oil declined for a second day to $786/mt as shares plunged and crude oil fell amid concern that Europe’s debt-laden countries may move closer to default and hurt the world’s economic recovery, Bloomberg reports.
Palm oil has tracked crude’s weekly movements for the past 11 weeks as confidence over an economic recovery fueled optimism energy demand will increase, lifting the outlook for biofuels.



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