By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, May 7 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower on Thursday, tracking softer crude oil and soybean oil prices on Chicago Board of Trade (CBOT), a trader said.
At the time of writing, the Brent crude oil price has fallen 3.34 per cent to US$97.54 per barrel.
Iceberg X Sdn Bhd proprietary trader David Ng said news of a potential ceasefire in the West Asia crisis had pushed energy prices lower, which in turn weighed on CPO prices.
“We see prices supported above RM4,480 and resistance at RM4,600,” he told Bernama.
At the close, the May 2026 and October 2026 contracts decreased RM36 each to RM4,491 and RM4,556 per tonne, respectively, while June 2026 fell RM40 to RM4,507.
The July 2026 contract dropped RM38 to RM4,541 per tonne, August 2026 fell RM37 to RM4,555, and September 2026 declined RM35 to RM4,558.
Trading volume slipped to 90,258 lots from 113,819 lots on Wednesday, while open interest rose to 283,723 contracts from 281,781 contracts previously.
The physical CPO price for May South slipped RM40 to RM4,550 per tonne.
-- BERNAMA
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