Carian mengenai topik oil-prices

Strong U.S retail sales data from the Commerce Department also hindered oil prices, Yawger added, by increasing the likelihood that interest rates in the world's biggest economy would remain higher for longer and reduce demand for oil.

If the scale of conflict widens, it would have significant impact, especially in rising of oil prices and trade supply chain disruption.

The surprising drop in palm oil imports by India, the world's biggest importer of vegetable oils, could bring down palm oil prices.

The rise in palm oil imports by India, could help Malaysia lower its stocks and support palm oil prices, the traders said.

The proposals to set cooking oil prices and the use of subsidised purchase coupons for packet cooking oil will be discussed at the NACCOL meeting next week.

The retail prices of cooking oil for the period Dec 8, 2022 to Jan 7, 2023 will remain unchanged, said KPDNHEP secretary-general Datuk Azman Mohd Yusof.

Stephen Innes said the steadier crude oil prices earlier this week have also provided support for the local note.

Higher exports and lower production would help major palm oil producers Indonesia and Malaysia bring down inventories.

The seedlings shortfall could slow plantation, capping production growth and keeping palm oil prices elevated, industry officials said.

The Special Task Force on Jihad Against Inflation is targeting a 10 per cent decrease in the price of cooking oil within the next two weeks following the drop in palm oil prices.

KPPK will continue to hold engagement sessions to find a win-win solution for all parties in the palm oil sector following the announcement of the reduction in palm cooking oil prices in stages.

Annuar said the industry had agreed with the special task force's recommendation on the price reduction, expected to be implemented soon.

Higher purchases by India may add support for Malaysian palm oil prices, which are trading near a one-year low.

The increase in palm oil prices in the plantation sector has attracted workers from other sectors, said Senior Works Minister Datuk Seri Fadillah Yusof.

The government still has sufficient funds to continue to provide fuel subsidies to the people despite rising global crude oil prices.

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