Palm Oil Hits 15-Week High Amid Strong Crude Prices, Geopolitical Tensions

Malaysian palm oil futures surged to a 15-week high, marking a third consecutive weekly gain, primarily supported by strong crude oil prices. Crude futures are experiencing hefty weekly gains due to ongoing concerns about disrupted energy flows in the Red Sea and fears of escalating conflicts in the Middle East. Stronger crude oil makes palm oil a more attractive option for biodiesel feedstock. This sustained strength in global energy markets could contribute to inflationary pressures, potentially supporting gold as an inflation hedge for Pakistani investors.

بحوالہ / Source: www.brecorder.com