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Soybean Oil Hits Three-Week High on Renewed US, Iran Tensions

Soybean Oil Hits Three-Week High on Renewed US, Iran Tensions
Bloomberg Markets Wednesday 08 July 2026, 04:56 UTC By Ben Westcott 1 min read
Key Points

Commodities Soybean Oil Hits Three-Week High on Renewed US, Iran Tensions Chicago soybean oil futures climbed to a three-week high after fresh US military strikes on Iran sent crude oil prices higher, raising the prospect of greater demand for biofuel feedstocks. Most-active soybean oil contracts rose by as much as 1.8% on Wednesday, extending a winning streak to five days, after the US said it targeted more than 80 Iranian sites in response to a series of attacks on ships in the Strait of...

Commodities Soybean Oil Hits Three-Week High on Renewed US, Iran Tensions Chicago soybean oil futures climbed to a three-week high after fresh US military strikes on Iran sent crude oil prices higher, raising the prospect of greater demand for biofuel feedstocks. Most-active soybean oil contracts rose by as much as 1.8% on Wednesday, extending a winning streak to five days, after the US said it targeted more than 80 Iranian sites in response to a series of attacks on ships in the Strait of Hormuz.
US (LOCATION) Iran (LOCATION) Iranian (ORG) the Strait of Hormuz (LOCATION)
Originally published by Bloomberg Markets Read original →

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