# Palm oil rises - Newspaper - DAWN.COM

> Malaysian palm oil futures rose more than 2 percent on Thursday as traders covered short positions, reaching a two-week high intraday. The February contract gained 2.5 percent to 2,057 ringgit a tonne after an overnight recovery in crude oil.

- Date: 2018-11-23 · published 2018-11-23T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/62143-palm-oil-rises-newspaper-dawn-com
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Short covering and crude oil strength support palm oil prices, since palm is used as biodiesel feedstock. Concerns over high inventories limit the rebound.

## Read by commodity

- WTI: bullish ▲
- PALMOIL: bullish ▲

## Sources

- dawn.com: https://www.dawn.com/news/1447148

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