MARKET MOVEMENTS:--Brent crude oil is up 2.3% to $74.77 a barrel. --S-Oil Suffers Third-Quarter Loss, Dragged by Refining BusinessS-Oil remained in the red in the third quarter due to a wider loss in its flagship refining business as lower crude prices dented its inventory value. MARKET TALKS:Palm Oil Rises Amid Strong Crude Oil, Soybean Oil Prices -- Market Talk1010 GMT - Palm oil ended higher amid strong crude oil and soybean oil prices, said David Ng, a proprietary trader at Iceberg X. "It is quite striking that OPEC+ continues to delay the scheduled production increases, at the same time as OPEC's oil market report insists that oil market is deeply undersupplied," Helge Andre Martinsen and Tobias Ingebrigtsen say in a note to clients. "We have argued all year that OPEC's oil market balance is out of sync with reality."

Source: Wall Street Journal November 04, 2024 20:48 UTC