Crude oil futures experienced a sharp decline of over 5% on Monday, following a pause in US-Iran strikes and renewed hopes for a diplomatic resolution to de-escalate regional conflict. This significant drop in energy prices subsequently pressured Malaysian palm oil futures, which fell more than 1% as weaker crude makes palm less attractive for biodiesel. The decline in crude was also influenced by heavy falls in Chicago soyoil and Dalian palm olein. Lower international crude oil prices could potentially ease imported inflation pressures in Pakistan, indirectly supporting the PKR and reducing the appeal of gold as an inflation hedge.
بحوالہ / Source: www.brecorder.com