# CPO Futures Close Higher Amid Rising Tension In The Middle East - Malaysia News Gazette

> Bursa Malaysia crude palm oil futures closed higher on Oct 2, 2024, with the spot October contract up 139 ringgit to 4,305 a tonne. Traders linked the gains to escalating Middle East tensions that lifted crude oil prices.

- Date: 2024-10-02 · published 2024-10-02T12:00:00.000Z
- Category: geopolitics · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/7242-cpo-futures-close-higher-amid-rising-tension-in-the-middle-east-malaysia-news
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher crude raises the biodiesel value of palm oil and pulls vegetable oil prices up with it, supporting palm prices in the near term.

## Read by commodity

- BRENT: bullish ▲
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2024-10-04 | 5 | +9.1% | 4.5 | Oct 2 CPO futures gained on Middle East tensions lifting crude, which raises palm's biodiesel-linked value and sentiment. |
| PALMOIL | 2024-10-07 | 5 | +9.3% | 4.1 | Oct 2 palm futures rose on escalating Middle East tension and higher crude, reinforcing the energy-driven rally. |
| BRENT | 2024-10-07 | 5 | +13.0% | 3.2 | Attributes gains to escalating Middle East tensions lifting crude on Oct 2, corroborating the driver, but it is a secondary palm-market report. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2024-10-08 | [CO Futures Close Higher Amid Middle East Tensions, Crude Oil Rally – MPOC](https://feedsoft.ai/events/7765-co-futures-close-higher-amid-middle-east-tensions-crude-oil-rally-mpoc.md) | -0.9% | +10.5% |
| PALMOIL | 2026-08-29 | [China's Palm, Soybean, and Rapeseed Oil Futures Rise; Crude Up Over 2% on Middle East Tensions \| Gate News](https://feedsoft.ai/events/10975-china-s-palm-soybean-and-rapeseed-oil-futures-rise-crude-up-over-2-on-middle.md) | +4.8% | +1.7% |
| PALMOIL | 2024-10-03 | [Malaysian Palm Oil Prices Climb Due To Middle East Tensions](https://feedsoft.ai/events/7767-malaysian-palm-oil-prices-climb-due-to-middle-east-tensions.md) | -0.9% | +1.5% |
| PALMOIL | 2026-04-02 | [HLIB Research: Middle East tensions to lift near-term palm oil prices](https://feedsoft.ai/events/9476-hlib-research-middle-east-tensions-to-lift-near-term-palm-oil-prices.md) | -1.0% | -2.2% |
| PALMOIL | 2024-10-04 | [Palm surges on Middle East conflict, records highest weekly gain in 16 months - Markets - Business Recorder](https://feedsoft.ai/events/7764-palm-surges-on-middle-east-conflict-records-highest-weekly-gain-in-16-months.md) | -0.1% | +2.7% |
| BRENT | 2024-10-08 | [CO Futures Close Higher Amid Middle East Tensions, Crude Oil Rally – MPOC](https://feedsoft.ai/events/7765-co-futures-close-higher-amid-middle-east-tensions-crude-oil-rally-mpoc.md) | -4.1% | -7.8% |
| BRENT | 2026-08-29 | [China's Palm, Soybean, and Rapeseed Oil Futures Rise; Crude Up Over 2% on Middle East Tensions \| Gate News](https://feedsoft.ai/events/10975-china-s-palm-soybean-and-rapeseed-oil-futures-rise-crude-up-over-2-on-middle.md) | +9.9% | +21.6% |
| BRENT | 2024-10-03 | [Oil prices turn higher for the year on risks to crude flow in the Middle East - MarketWatch](https://feedsoft.ai/events/10030-oil-prices-turn-higher-for-the-year-on-risks-to-crude-flow-in-the-middle-east.md) | +3.3% | -2.0% |

## Sources

- malaysianewsgazette.com: https://www.malaysianewsgazette.com/cpo-futures-close-higher-amid-rising-tension-in-the-middle-east/

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