# War-driven energy rally may deepen rare soybean oil discount to palm oil | S&P Global

> Platts assessed Argentine soybean oil at $1,132.30/mt and Brazilian soybean oil at $1,138.91/mt on March 11, both below Indonesian and Indian palm oil benchmarks. The inversion is a rare occurrence, with palm oil supported by the energy-led rally and biofuel policy.

- Date: 2026-03-12 · published 2026-03-12T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/4715-war-driven-energy-rally-may-deepen-rare-soybean-oil-discount-to-palm-oil-s-and
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Energy-driven biodiesel demand is lifting palm oil more than soyoil, which could push buyers toward soybean oil and widen the discount if the conflict continues.

## Read by commodity

- SBO: bullish ▲
- WTI: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2026-03-17 | [War-driven diesel rally continues to lift soybean oil amid renewable diesel margin strength - Fastmarkets](https://feedsoft.ai/events/4711-war-driven-diesel-rally-continues-to-lift-soybean-oil-amid-renewable-diesel.md) | +0.6% | +0.2% |
| SBO | 2022-02-23 | [Palm oil futures hit all-time high on bullish global energy, vegetable oil markets](https://feedsoft.ai/events/8760-palm-oil-futures-hit-all-time-high-on-bullish-global-energy-vegetable-oil.md) | +3.8% | -0.7% |
| SBO | 2024-08-26 | [Palm and soybean oil prices rise in response to recovery in crude oil prices](https://feedsoft.ai/events/28878-palm-and-soybean-oil-prices-rise-in-response-to-recovery-in-crude-oil-prices.md) | +3.3% | +1.0% |
| SBO | 2026-03-12 | [Brent Oil Tops $100 as Persian Gulf Disruption Hits Global Supply - Bloomberg](https://feedsoft.ai/events/8158-brent-oil-tops-100-as-persian-gulf-disruption-hits-global-supply-bloomberg.md) | -5.5% | -1.7% |
| SBO | 2026-03-02 | [Oil Prices Surge as Hormuz Disruptions Threaten Global Supply, Analysts Warn - Bloomberg](https://feedsoft.ai/events/8003-oil-prices-surge-as-hormuz-disruptions-threaten-global-supply-analysts-warn.md) | +4.6% | -1.4% |
| PALMOIL | 2022-02-23 | [Palm oil futures hit all-time high on bullish global energy, vegetable oil markets](https://feedsoft.ai/events/8760-palm-oil-futures-hit-all-time-high-on-bullish-global-energy-vegetable-oil.md) | +15.0% | +10.6% |
| PALMOIL | 2024-08-26 | [Palm and soybean oil prices rise in response to recovery in crude oil prices](https://feedsoft.ai/events/28878-palm-and-soybean-oil-prices-rise-in-response-to-recovery-in-crude-oil-prices.md) | +0.7% | +6.8% |
| PALMOIL | 2026-03-12 | [Brent Oil Tops $100 as Persian Gulf Disruption Hits Global Supply - Bloomberg](https://feedsoft.ai/events/8158-brent-oil-tops-100-as-persian-gulf-disruption-hits-global-supply-bloomberg.md) | +0.9% | +3.9% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/031226-war-driven-energy-rally-may-deepen-rare-soybean-oil-discount-to-palm-oil

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.