Palm oil futures end week higher on rising crude costs
Benchmark palm oil futures rose on Friday to secure a 3.28 percent weekly gain. Support came from higher crude oil prices and a weaker ringgit currency.
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Malaysian palm oil futures climbed on Friday, marking their first weekly gain in three weeks. The market found support from a rally in energy prices and a weakening local currency, though gains were tempered by softer performance in rival edible oil markets in China.
The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange rose by 16 ringgit, or 0.35%, to close at $1,159.77 per metric ton. Over the course of the week, the contract secured a total gain of 3.28%.
