Palm oil futures near 2-month high on expectations of lower supply, firmer crude

Crude palm oil prices rose to near two-month highs on June 3 after a key industry group in Malaysia cut production estimate for May, coupled with higher oil prices amid the Middle East conflict, traders and analysts told Platts, part of S&P Global Energy. The benchmark crude palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange rose nearly 2.9% to MR 4,670Crude palm oil prices rose to near two-month highs on June 3 after a key industry group in Malaysia cut production estimate for May, coupled with higher oil prices amid the Middle East conflict, traders and analysts told Platts, part of S&P Global Energy. The benchmark crude palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange rose nearly 2.9% to MR 4,670Read More