Latest News
-
Tigerair adds 15 A321s to its fleet in $1.3billion deal
Tigerair, Taiwan's low-cost carrier, announced on Wednesday that it had approved the purchase and lease of eleven new A321neo planes from Airbus for T$40billion ($1.28billion) in order to expand its network. Tigerair, which is majority owned by Taiwan Airlines, also has an option to purchase four additional A321neos, according to a statement posted on the airline's website. It added that the 11 A321neo aircraft being leased are expected to arrive by 2031. The four aircraft purchased after 2031 will be deployed in full by 2035. Tigerair flies to Japan, one of the most popular destinations for Taiwanese tourists and businessmen. Reporting by Ben Blanchard & Faith Hung. $1 = 31.2670 Taiwan Dollars
-
Prices of oil rise after Ukrainian attacks on Russian oil infrastructure and stalled peace negotiations
The oil prices rose slightly on Thursday, after Ukrainian attacks on Russia’s oil infrastructure indicated potential supply restrictions. Stalled peace talks dampened expectations of a deal to restore Russian oil flow to global markets. However, weak fundamentals limited gains. Brent crude rose by 14 cents or 0.22% to $62.81 at 0102 GMT. U.S. West Texas Intermediate gained 16 cents or 0.27% to $59.11. A Ukrainian military intelligence source confirmed that Ukraine had attacked the Druzhba pipeline in Russia's Tambov central region on Wednesday. This was the fifth attack against the pipeline, which sends Russian crude oil to Hungary or Slovakia. Later, the operator of the pipeline and Hungary's Oil and Gas company confirmed that supplies were flowing through it as usual. Prices were also supported by the perception that the peace plan for Ukraine is stalling, especially after the representatives of U.S. president Donald Trump returned from their peace talks with the Kremlin without any specific breakthroughs in ending the conflict. Trump said that it is unclear what will happen next. Prices had been pushed down by traders' expectations that the war would end, and that sanctions against Russia would be lifted, allowing Russian oil to return to a market already oversupplied. Tony Sycamore, IG's market analyst, said that despite the rise in crude oil prices, worries about an oversupply and a soft demand continued to affect them. Fitch Ratings cut its oil price estimates for 2025-2027 on Thursday to reflect the market oversupply. Production growth is also expected to exceed demand. (Reporting and editing by Michael Perry; Colleen howe)
-
CANADA-CRUDE-Discount on Western Canada Select widens
On Wednesday, the discount between West Texas Intermediate and Western Canada Select futures (the North American benchmark) widened. WCS for Hardisty, Alberta delivery in January settled at $13 per barrel below U.S. benchmark WTI according to brokerage CalRock. This compares to $12.95 Tuesday. * After spending most of the year in historically tight levels the WCS discount has recently widened to nearly the same level as it was 12 month ago. Martin King, an analyst at RBN Energy, says that this suggests the market has accounted for all the benefits it received from the Trans Mountain expansion. * The Trans Mountain Pipeline has contributed to a tighter differential, by providing Canadian oil producers with additional export capacity. The Alberta oil production is continuing to increase, King explained. This could have an impact on the WCS discounts in the coming months. There is plenty of oil in Alberta to provide a buffer, but King says differentials may start to increase in late February or in early March, as U.S. refining starts to ramp-up. * Oil prices rose on Wednesday, despite fears over an oversupply. The gains were tempered by the failure of the U.S. to reach a settlement with Russia to end the conflict in Ukraine. This could have led to easing sanctions on Moscow's petroleum sector. (Reporting and editing by Alan Barona in Calgary)
-
Colonial Pipeline requests a rehearing on its proposal to change gasoline shipments
Colonial Pipeline, on Wednesday, requested that the U.S. Federal Energy Regulatory Commission reconsider the earlier decision it made rejecting the changes the company proposed to the way in which the nation's largest fuel conduit handles gasoline shipments. The company claimed that the regulator erred by blocking Colonial's ability to modify delivery specifications, stop overlapping shipments between different grades of gas, and discontinue shipments for so-called "Grade 5" gasoline sold during winter in certain Northeastern States. Colonial said the changes were part of their efforts to improve safety, efficiency and reduce wear and tear on the pipeline system that is over 60 years old. The company also said that the changes would help it move more gasoline into markets where there is a need for it. A group of Colonial shippers including Exxon Mobil, BP and other oil majors had protested these proposed changes. They argued that they would hurt their business by shifting blending profits away from Colonial. FERC sided with protesting shippers and ruled that Colonial failed to prove its proposal as just and reasonable. Colonial's plan, according to the regulator, would also impose extra costs on shippers and degrade the quality gasoline they transport through the pipeline, without compensating them. Colonial will also gain an unfair advantage. Colonial stated that FERC had approved a proposal from the company to eliminate shipments of M and V grade gasolines in the Midwest. Colonial said that since the filing took effect on April 1, it has gained 3.6 million barrels in additional capacity. Colonial says that the capacity benefits of the proposal rejected by FERC would be similar. However, safety, integrity, and operational benefits are even greater. Last week, the United States burned over 8,3 million barrels per day of gasoline. Reporting by Shariq KHan in New York, Editing by Chris Reese & Diane Craft
-
Delta suffers a $200 million loss due to the US Government shutdown
Delta Air Lines announced on Wednesday that it expects to take a $200 million hit to its fourth quarter pre-tax profits due to the U.S. Government shutdown which ended last month. The company stated that the impact is about 25 cents a share. The Atlanta-based carrier forecasted an adjusted profit between $1.60 and $1.90 per share for the three months through December in October. The 43-day shutdown of the government affected flight operations, and thousands of air traffic control operators and other staff were forced to work without being paid. Flight cuts were also ordered by the Federal Aviation Administration at 40 major airports because of a lack of air traffic control. The longest government shutdown in history has disrupted thousands of flights, and lowered travel demand. The turmoil, combined with weather-related delays, has led some Wall Street analysts in the United States to reduce their fourth-quarter earnings predictions for U.S. airlines by up to 30%. Delta said that bookings have returned to the initial expectations after the shutdown ended. Demand is expected to remain healthy throughout the remainder of the quarter, and trend strong into early 2026. Ed Bastian, CEO of the airline, told a Morgan Stanley Conference that the airline experienced a drop in bookings between 5% and 10% immediately following FAA-mandated flights cuts. However the impact was only short-lived. Bastian stated, "We are looking forward to an excellent December and a great close to the calendar year." "I think we are done." Delta's share price was up around 3% during the afternoon trading. JetBlue said on Tuesday that demand for the fourth quarter was healthy. Bookings were in line with expectations, except for the brief period when the FAA ordered flight reductions. The New York-based airline said that its operations had also been affected by Hurricane Melissa, which hit Jamaica. This, along with cancellations due to the shutdown, led to a reduction in its fourth-quarter operating capacity and increased non-fuel costs. Reporting by Rajesh Kumar Singh from Chicago and AnshumanTripathy from Bengaluru. Editing by Shailesh Kumar and Aurora Ellis.
-
Urals differentials unchanged; Kazakhstan reroutes its oil after CPC attack
Sources said that the differential between Russian Urals crude and Brent dated was stable on Wednesday. Kazakhstan also rerouted some oil exports to other destinations than the Caspian Pipeline Consortium (CPC), which had been attacked by a drone over the weekend. Five industry sources have confirmed that Kazakhstan will divert additional crude oil through the Baku, Tbilisi, and Ceyhan pipelines in December, after the CPC, its main export route suffered damage following a drone attack by Ukraine. According to a source, Kazakh producers could add up to 140,000 tons KEBCO crude oil in December. Ukraine has struck the Druzhba pipeline in Russia's Tambov central region, according to a source with Ukraine's GUR intelligence service. PLATTS WINDOW Traders reported that no bids or offers for Urals, Azeri BTC, and CPC Blend were made on Tuesday. Two sources with knowledge of the matter have confirmed that Bernd Bergmair (former majority owner of an adult entertainment company including the website Pornhub) has approached the U.S. Treasury to buy international assets from sanctioned Russian oil giant Lukoil. Reporting by Kirsten Doovan; Editing by Kirsten D.
-
US FTC: Boeing must divest Spirit AeroSystems' assets before merging with Spirit AeroSystems
The U.S. regulator announced on Wednesday that it would require Boeing divest significant Spirit AeroSystems' assets in order to address competition concerns regarding its $8.3 Billion acquisition of the company which manufactures major fuselages and wing parts for aircraft, including the Boeing 737. The Federal Trade Commission has proposed an order that delays the merger planned by Boeing, which was scheduled to be completed before the end of this year. The proposed order is open for public comments for 30 days. Boeing's shares fell 2.3% intraday. The commission wants Spirit to divest its parts that provide aerostructures to Airbus, its European competitor. Airbus has already agreed to buy parts from Spirit. This divestment will address FTC concerns that the merger could allow Boeing to unfairly dominate Airbus's supply chain. Boeing's spokesperson stated, "We are pleased that the U.S. Federal Trade Commission has approved our acquisition of Spirit AeroSystems." While the transaction is not fully completed, Boeing remains committed to the completion of the remaining steps to complete the acquisition. This milestone will enhance our ability, to produce safe, high quality airplanes for our clients and benefit the flying community. (Reporting and editing by Doina Gregorio and David Gregorio; and Bhargav acharya in Toronto and Ryan Patrick Jones, in Seattle.
-
Britain adopts regional controls on Spanish pork imports after lifting blanket ban
Britain announced on Wednesday that it will allow imports of pork from areas of Spain not affected by African swine flu (ASF). This is a reversal of a blanket prohibition imposed last weekend after the country reported the first cases of this disease in over three decades. This move aligns Britain's approach with that of the European Union, which restricts trading only in outbreak zones. Pork imports from other regions can resume, but those from Barcelona will remain suspended. In an emailed message, a Defra representative said that "all fresh pork and other impacted product from the affected region are restricted." The statement said that exports from areas in Spain that are free of disease can continue as usual. They also added that they will continue to monitor the situation. Spain confirmed that nine wild boars near Barcelona had been infected with ASF. This prompted Catalonia to take emergency measures, as the region is a major pig-farming area. The virus is not fatal for humans, but it can be deadly to pigs. There is no vaccine or treatment. Spain is Europe's biggest pork producer, and it's a major pork supplier to Britain. It has shipped 37,600 tons of pork worth more than 112 million euro ($130 million) so far in this year. After Spanish Prime Minister Pedro Sanchez called on Britain and other trading partner to continue purchasing from regions outside of the containment area, the decision was made. resumed shipments Earlier this week, Beijing relaxed its restrictions on Catalonia and allowed more people to travel to China. Officials in Spain said that other countries, including Mexico and Canada, have not yet adopted the same approach as Britain and the EU, and continue to ban pork imports from Spain. Task force to investigate the alleged involvement of EU Vets On Tuesday, work began in Barcelona to contain the outbreak. (Reporting and editing by Sam Tabahriti, Nigel Hunt, and Catarina demony).
Prices of oil rise after Ukrainian attacks on Russian oil infrastructure and stalled peace negotiations
The oil price rose on Thursday, after Ukrainian attacks on Russia’s oil infrastructure indicated potential supply restrictions. Stalled peace talks dampened expectations of a deal to restore Russian oil flow to global markets. However, weak fundamentals limited gains.
Brent crude rose by 24 cents or 0.38% to $62.91 at 0349 GMT. U.S. West Texas Intermediate gained 29 cents or 0.49% to $59.24.
A Ukrainian military intelligence source confirmed that Ukraine had attacked the Druzhba pipeline in Russia's Tambov central region on Wednesday. This was the fifth attack against the pipeline, which sends Russian crude oil to Hungary or Slovakia. Later, the operator of the pipeline and Hungary's Oil and Gas company confirmed that supplies were flowing through it as usual.
In a report, the consultancy Kpler stated that Ukraine's drone campaign has moved into a more strategic and sustained phase. It added that attacks now target refineries repeatedly, in an effort to prevent key assets from stabilizing.
The report said that "this has caused Russian refining output to fall by around 5 million barrels a day between September-November, a 335,000 barrels bpd decline year-on-year, with gasoline being the hardest hit and gasoil production also materially lower."
Prices were also supported by the perception that the peace plan for Ukraine is stalling, especially after the representatives of U.S. president Donald Trump returned from their peace talks with the Kremlin without any specific breakthroughs in ending the conflict. Trump said that it is unclear what will happen next.
Vandana Insights, a provider of oil market analyses, said that "Crude is likely to remain in a narrow band while the Ukraine peace effort grinds on."
Prices had been pushed down by traders' expectations that the war would end, and that sanctions against Russia would be lifted, allowing Russian oil to return to a market already oversupplied.
Fitch Ratings cut its oil price estimates for 2025-2027 on Thursday to reflect the market oversupply. Production growth is also expected to exceed demand. Reporting by Mohi N. Narayan, New Delhi; Colleen H. Howe, Beijing; and Michael Perry.
(source: Reuters)