CPO Futures Set To Trade With Bearish Bias Next Week Amid Energy Price Volatility

By Muhammad Fawwaz Thaqif Nor Afandi

KUALA LUMPUR, July 18 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are expected to trade with a bearish bias next week amid volatility in energy prices.

Iceberg X Sdn Bhd proprietary trader David Ng said sentiment is affected as the market continues to monitor developments in the energy market, which has influenced edible oil prices.

He said that expectations of higher output and stock levels in the coming weeks are also affecting market sentiment.

"We expect prices to trade between RM4,500 and RM4,650 per tonne next week," Ng told Bernama.

Meanwhile, Interband Group of Companies senior palm oil trader Jim Teh said the CPO market is expected to be volatile next week, tracking movements in crude oil prices.

"The trading range will be between RM4,200 and RM4,300 per tonne next week," he said.

At the time of writing, Brent crude rose 2.28 per cent to US$86.15 per barrel.

On a Friday-to-Friday basis, the August 2026 contract rose RM53 to RM4,529 per tonne, September 2026 added RM52 to RM4,565 per tonne, and October 2026 gained RM50 to RM4,597 per tonne.

The November 2026 contract increased RM48 to RM4,630 per tonne, December 2026 edged up RM51 to RM4,663 per tonne, and January 2027 stood at RM4,697 per tonne.

Weekly trading volume declined to 402,028 lots from 431,847 lots a week earlier, while open interest strengthened to 286,716 contracts from 286,062 previously.

The physical CPO price for July South rose RM50 to RM4,540 per tonne.

-- BERNAMA