World vegetable oil prices fell on hopes for a diplomatic solution to Israel's conflict with the Gaza Strip

December Brent crude futures fell 2.5% to $89/barrel yesterday amid easing tensions in the Middle East. Because of a diplomatic mission to free hostages taken by Hamas, Israel has postponed an operation in the Gaza Strip, and Western countries are trying to stop the expansion of the war between Israel and Hamas. The UN called for a "humanitarian pause" in the war, which was supported by EU leaders. December palm oil futures on the Malaysian exchange, after rising 6% last week, fell 1% yesterday to 3,733 ringgit/t or $779/t (-0.7% on the week) as oil prices strengthened pressure on quotations of other vegetable oils. According to AmSpec Agri Malaysia and Intertek Testing Services, in the period from October 1 to 20, Malaysia increased the export of palm oil products by 7.9-9.9% compared to the same period in September, which supported palm oil prices. December soybean oil futures in Chicago fell 2.7% to $1,143/t yesterday (-10.6% on the month) as soybean prices eased under pressure ...