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Palm Slips from Month-High as Weak Crude Dents Biofuel Appeal

Bloomberg Markets Tuesday 21 July 2026, 04:56 UTC By Kanupriya Kapoor 1 min read
Key Points

Commodities Palm Slips from Month-High as Weak Crude Dents Biofuel Appeal Palm oil fell from a near one-month high following weakness in the crude and vegetable oil complex, denting the appeal of biofuels. Futures dropped as much as 0.9% to 4,602 ringgit, nearly erasing the previous day’s gain. Benchmark Brent crude dipped after a two-day gain as mediators seek to broker a new truce in the Middle East, while the US and Iran continue their hostilities.

Commodities Palm Slips from Month-High as Weak Crude Dents Biofuel Appeal Palm oil fell from a near one-month high following weakness in the crude and vegetable oil complex, denting the appeal of biofuels. Futures dropped as much as 0.9% to 4,602 ringgit, nearly erasing the previous day’s gain. Benchmark Brent crude dipped after a two-day gain as mediators seek to broker a new truce in the Middle East, while the US and Iran continue their hostilities. Chicago soybean oil was flat after declining on Monday.
Palm Slips (PERSON) the Middle East (LOCATION) US (LOCATION) Iran (LOCATION) Chicago (LOCATION)
Originally published by Bloomberg Markets Read original →

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