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The KLCI fell 0.71% in the week of February 21-25, 2022, as Russia attacked Ukraine. Crude palm oil closed the week at RM6,845.50 per metric ton after briefly passing RM7,000, and Brent ended at US$98.63 per barrel.
Palm oil prices rallying strongly on Ukraine-driven vegetable oil supply concerns raise the cost of palm-based feed ingredients and support vegoil prices broadly.
dagangnews.comFeb 28, 2022After 62 past bullish geopolitics events, Palm Oil moved a median +2.5% over 5 sessions (74% higher; middle half -0.1% to +5.8%), and +4.0% over 20.
After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Crude palm oil rose to RM6,845 and briefly passed RM7,000 in the week of the invasion, confirming the price surge.
