Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives finished higher on Wednesday, primarily supported by firmer crude oil prices. Iceberg X Sdn Bhd proprietary trader David Ng noted that oil prices were gaining momentum amid the ongoing conflict in West Asia, influencing market sentiment.

According to BERNAMA News Agency, Ng highlighted that the market saw prices supported above RM4,400 per tonne with resistance at RM4,600 per tonne. At the time of reporting, Brent crude oil had risen 4.29 percent to US$90.95 per barrel.

Reports indicated that near-term CPO prices are projected to average between RM4,100 and RM4,200 per tonne in 2026. This projection is supported by stronger crude oil prices, which could enhance biodiesel economics and bolster Indonesia's potential B50 mandate.

At the market close, the March 2026 and April 2026 contracts increased by RM73 each to RM4,385 and RM4,471 per tonne, respectively. The May 2026 contract rose by RM71 to RM4,499 per tonne. Additionally, the June 2026 contract increased by RM65 to RM4,493 per tonne, the July 2026 contract went up RM59 to RM4,471 per tonne, and the August 2026 contract advanced RM56 to RM4,440 per tonne.

The trading volume decreased to 94,388 lots from 147,182 on Tuesday, while open interest slightly declined to 224,565 contracts from 226,797 contracts previously. The physical CPO price for March South strengthened by RM70 to RM4,440 per tonne.