Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives extended its upward momentum to close higher on Thursday for the third consecutive day, supported by improved market sentiment, said an analyst.

According to BERNAMA News Agency, Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa stated that the positive market sentiment was mainly influenced by overall gains in the financial markets. However, the rise in the Malaysian ringgit reduced some of the gains in palm futures. Meanwhile, proprietary trader David Ng of Iceberg X Sdn Bhd noted that a stronger soybean oil market also contributed to the firmer CPO market. He mentioned that prices are supported above RM4,100 a tonne with resistance seen at RM4,250 a tonne.

At the close of trading, the February 2026 contract rose RM30 to RM4,142 per tonne, while the March 2026 contract added RM42 to reach RM4,184 per tonne. The April 2026 contract gained RM43, closing at RM4,197 per tonne. The May 2026 contract increased RM39 to RM4,194 per tonne, June 2026 climbed RM36 to RM4,185 per tonne, and July 2026 firmed RM35 to RM4,173 per tonne.

Trading volume experienced growth, with an increase to 93,051 lots from 67,587 lots on Wednesday, even as open interest narrowed to 231,985 contracts from 239,347 previously. Additionally, the physical CPO price for February South rose RM20, reaching RM4,150 per tonne.