Palm and soybean oil prices fell by 4.4-5.9% amid a 14.5% drop in oil prices in two days

The U.S. stock market plunge continued on Friday, accelerating the decline in oil prices and putting pressure on vegetable oil prices. Crude oil prices fell to a 4-year low after China imposed an additional 34% tariff on American goods in response to US actions, which could lead to a global crisis and a reduction in demand for energy. June Brent crude futures fell by 14.5% to $65.5/barrel in two sessions (-6.9% per month), and US WTI crude fell by 15.2% to $61.7/barrel (-7.1%). In commodity markets, quotes also fell slightly as traders watch what tariffs on American goods other countries will impose in response, which will allow them to assess the prospects for exports from the United States. So far, quotes for vegetable oils, which are correlated with oil prices, have fallen the most. Despite a 14.5% drop in oil prices in two days, May soybean oil futures on the Chicago Board of Trade fell 4.8% in two sessions to $1,009/t (+6.2% month-on-month), but have not yet completely ...