WINNIPEG--The ICE Futures canola market was up sharply Friday, finding spillover support from outside vegetable oil markets. European rapeseed and Malaysian palm oil futures both set fresh contract highs overnight, with Chicago soyoil also posting solid gains. Tight supplies and drought concerns were also supportive, although seasonal harvest pressure did temper those gains.
Front Month ICE Brent Crude for Nov. delivery gained $2.75 per barrel, or 3.65% to $78.09 this week. --Largest one week net and percentage gain since the week ending Aug. 27, 2021. --Up for five consecutive weeks.
Front Month Nymex Crude for Nov. delivery gained $2.16 per barrel, or 3.01% to $73.98 this week. --Up for five consecutive weeks. --Up $11.66 or 18.71% over the last five weeks.
Front Month Nymex Natural Gas for Oct. delivery gained 3.50 cents per million British thermal units, or 0.69% to$ 5.1400 per million British thermal units this week. --Up for five consecutive weeks. --Up $1.289 or 33.47% over the last five weeks.
WINNIPEG, Manitoba-- The ICE Futures canola market was stronger at midday Friday, taking some direction from Chicago Board of Trade soyoil. European rapeseed and Malaysian palm oil futures both set fresh contract highs overnight, lending some support to the North American oilseed markets as well. A weaker tone in the Canadian dollar was also supportive for canola.
Oil prices rose for a third week in a row to a near three-year high on Friday as global output disruptions have forced energy companies to pull large amounts of crude out of inventories. The rally was slightly dampened by China's first public sale of state crude reserves.
WINNIPEG, Manitoba--The ICE Futures canola market was stronger on Thursday, underpinned by solid demand and gains in outside markets. European rapeseed and Malaysian palm oil futures both set fresh contract highs overnight. Chicago Board of Trade soyoil futures were also stronger.
Front Month ICE Brent Crude for Nov. delivery gained $1.06 per barrel, or 1.39% to $77.25 today. --Up for three consecutive sessions. --Up $3.33 or 4.50% over the last three sessions.
Front Month Nymex Crude for Nov. delivery gained $1.07 per barrel, or 1.48% to $73.30 today. --Up for three consecutive sessions. --Up $3.01 or 4.28% over the last three sessions.
Front Month Nymex Natural Gas for Oct. delivery gained 17.10 cents per million British thermal units, or 3.56% to$ 4.9760 per million British thermal units today. --Largest one day dollar and percentage gain since Wednesday, Sept. 15, 2021. --Off 8.86% from its 52- week high of $5.46 hit Wednesday, Sept. 15, 2021.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
Log In Required
