# VEGOILS-Palm reverses losses, up 2% on crude oil jump By Reuters

> Malaysian palm oil futures rose about 2% on February 15 to 3,628 ringgit a tonne, extending gains as crude oil surged to its highest in over a year after a Houthi drone incident in Yemen. Traders said higher US soyoil prices also supported the market.

- Date: 2021-02-15 · published 2021-02-15T12:00:00.000Z
- Category: macro · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/48725-vegoils-palm-reverses-losses-up-2-on-crude-oil-jump-by-reuters
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Higher crude oil raises the appeal of palm oil as biodiesel feedstock, lifting vegetable oil prices and supporting soybean oil demand.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-03-08 | [VEGOILS-Palm oil rises nearly 4% to two-month high as crude, soyoil rally By Reuters](https://feedsoft.ai/events/6562-vegoils-palm-oil-rises-nearly-4-to-two-month-high-as-crude-soyoil-rally-by.md) | +6.6% | -1.7% |
| PALMOIL | 2023-04-03 | [Palm posts biggest jump in two months after crude oil rally - Markets - Business Recorder](https://feedsoft.ai/events/36512-palm-posts-biggest-jump-in-two-months-after-crude-oil-rally-markets-business.md) | -2.6% | -15.2% |
| PALMOIL | 2026-05-28 | [Palm Oil Prices Rise As Crude Oil Gains - Finimize](https://feedsoft.ai/events/19380-palm-oil-prices-rise-as-crude-oil-gains-finimize.md) | +3.1% | -2.0% |
| PALMOIL | 2026-04-30 | [Ringgit closes lower on volatile oil prices \| The Star](https://feedsoft.ai/events/19961-ringgit-closes-lower-on-volatile-oil-prices-the-star.md) | +0.5% | -1.1% |
| PALMOIL | 2018-02-28 | [Palm oil rises to seven-week top on weaker ringgit \| The Star](https://feedsoft.ai/events/10366-palm-oil-rises-to-seven-week-top-on-weaker-ringgit-the-star.md) | -0.9% | -2.6% |
| WTI | 2021-03-08 | [VEGOILS-Palm oil rises nearly 4% to two-month high as crude, soyoil rally By Reuters](https://feedsoft.ai/events/6562-vegoils-palm-oil-rises-nearly-4-to-two-month-high-as-crude-soyoil-rally-by.md) | -0.7% | -11.2% |
| WTI | 2023-04-12 | [Oil rises 2% on lower-than-expected US inflation data \| Reuters](https://feedsoft.ai/events/36559-oil-rises-2-on-lower-than-expected-us-inflation-data-reuters.md) | -0.8% | -9.6% |
| WTI | 2023-04-03 | [Palm posts biggest jump in two months after crude oil rally - Markets - Business Recorder](https://feedsoft.ai/events/36512-palm-posts-biggest-jump-in-two-months-after-crude-oil-rally-markets-business.md) | +5.4% | -0.0% |

## Sources

- in.investing.com: https://in.investing.com/news/vegoilspalm-reverses-losses-up-2-on-crude-oil-jump-2609938

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