By Fatin Umairah Abdul Hamid
KUALA LUMPUR, June 19 (Bernama) -- Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended the week to close higher on Friday, driven by supply concerns and renewed tension in West Asia, said a trader.
Iceberg X Sdn Bhd proprietary trader David Ng said the renewed tensions in West Asia are driving a rally in energy markets, which in turn fuels the palm oil market.
“We see prices supported above RM4,500 per tonne, with resistance at RM4,780 per tonne,” he told Bernama.
At the close, the July 2026 contract gained RM84 to RM4,594 per tonne, the August 2026 contract rose RM78 to RM4,622 per tonne, and the September 2026 contract advanced RM73 to RM4,646 per tonne.
The October 2026 contract added RM65 to RM4,668 per tonne, the November 2026 contract climbed RM61 to RM4,689 per tonne, and the December 2026 contract increased RM52 to RM4,710 per tonne.
Trading volume declined to 76,763 lots from 91,261 lots on Thursday, while open interest edged up to 287,112 contracts from 286,986 previously.
Meanwhile, the physical CPO price for June South rose by RM50 to RM4,560 per tonne.
-- BERNAMA
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