Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher on Monday, influenced by gains in the crude oil market.

According to BERNAMA News Agency, David Ng, a proprietary trader at Iceberg X Sdn Bhd, noted that crude oil prices surged due to renewed US-Iran military strikes that disrupted oil flows through the Strait of Hormuz. At the time of writing, Brent crude had increased by 3.8 percent to US$78.90 per barrel.

"Higher crude oil prices boosted palm oil prices due to stronger demand prospects for its use as a biofuel feedstock. Sentiment was also supported by higher Chicago Board of Trade (CBOT) soybean oil prices," Ng explained. However, he added that the recent strong growth in palm oil production was limiting the extent of price increases. "We see support at RM4,500 and resistance at RM4,650," he stated.

At the close, the spot-month July and August 2026 contracts rose by RM17 each to RM4,472 and RM4,493 per tonne, respectively. The September 2026 contract increased by RM20 to RM4,533 per tonne. The October and November 2026 contracts gained RM19 to RM4,566 and RM4,601 per tonne, respectively, while the December 2026 contract increased by RM21 to RM4,633 per tonne.

The trading volume decreased to 54,241 lots from 113,131 lots on Friday, while open interest declined to 283,758 contracts from 286,062 contracts previously.