Palm and soybean oil prices fell by 4.4-5.9% amid a 14.5% drop in oil prices in two days

The US stock market saw a decline on Friday, which had a ripple effect on oil and vegetable oil prices. Crude oil prices hit a four-year low due to China imposing a 34% tariff on US goods, leading to a potential global crisis and reduced energy demand. This caused commodity market quotes to also decline. Vegetable oil prices, particularly soybean oil, saw the most significant drop. Traders are waiting to see what tariffs other countries will impose on US goods, and there are hopes that President Trump will cancel tariffs after negotiations. However, experts warn that the tariffs are damaging confidence in the US economy and global demand for commodities, predicting a decline in commodity markets in the coming months.

The US stock market continued to fall on Friday, accelerating the decline in oil prices and increasing pressure on vegetable oil prices. Crude oil prices fell to a 4-year low after China imposed an additional 34% tariff on US goods in response to US actions, which could lead to a global crisis and a reduction in demand for energy. June futures for Brent crude fell by 14.5% in two sessions to $65.5/barrel (-6.9% per month), and for US WTI crude - by 15.2% to $61.7/barrel (-7.1%). In commodity markets, quotes also fell slightly, as traders monitor what tariffs on US goods other countries will begin to impose in response, which will allow them to assess the prospects for exports from the US. So far, vegetable oil quotes, which are correlated with oil prices, have fallen the most. Despite a 14.5% drop in oil prices in two days, May soybean oil futures on the Chicago Board of Trade have fallen 4.8% in two sessions to $1,009/t (+6.2% for the month), but have not yet completely lost ...