VEGOILS Palm oil posts first weekly gain in three weeks
By Fransiska Nangoy
Published on April 25, 2026.
Malian palm oil futures posted their first weekly gain in three weeks due to higher crude oil and a weaker ringgit. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange gained 16 ringgit, or 0.35%, to $1,159.77 ($1,157.68) a metric ton by closing time. However, softer rival edible oils on the Dalian exchange also contributed to the gains. Fears of a renewed military escalation in the Middle East have increased oil prices, making palm oil more attractive as an alternative source of fuel. The Malaysian Palm Oil Council (MPOC) predicts that strong biodiesel economics, elevated crude oil prices and potential El Niño weather developments will help keep crude prices above 4,500 ringgit per ton in the near term.
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