CPO Futures End Lower, Tracking Crude Oil Weakness
By Fatin Umairah Abdul Hamid
KUALA LUMPUR, April 8 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower on Wednesday, mirroring the decline in oil prices following the ceasefire announced by the United States and Iran, said Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa.
“Palm oil prices fell sharply, tracking the drop in crude oil prices following news of a US-Iran conditional ceasefire,” he told Bernama.
At the time of writing, Brent crude fell 17.03 per cent to US$90.66 per barrel.
Earlier today, the US States and Iran agreed to the ceasefire just before the expiration of a deadline set by US President Donald Trump, who had threatened major attacks on Iran's energy sector unless Tehran reopened the Strait of Hormuz by Wednesday.
At the close, the April and May 2026 contracts dropped RM173 each to RM4,518 and RM4,557 per tonne, respectively, while the June 2026 contract tumbled RM179 to RM4,586 per tonne.
The July 2026 contract declined RM181 to RM4,593 per tonne, the August 2026 contract fell RM180 to RM4,577 per tonne, and the September 2026 contract reduced RM178 to RM4,551 per tonne.
Trading volume rose to 105,474 lots from 71,360 lots on Tuesday, while open interest widened to 260,341 contracts from 254,857 contracts.
The physical CPO price for April South shrank RM180 to RM4,570 per tonne.
-- BERNAMA