OIL WORLD predicts that in the first half of 2025, oil prices will reach a 3-year high

According to APC-Inform, oil prices rose significantly during the month. Thus, as of October 10, hydrogenated palm olein in Malaysia traded at $1,065/t FOB, palm oil in Indonesia at $1,120/t, Argentine soybean oil at $1,029/t, Black Sea sunflower oil at $1,100-1,180 /t CIF-Mersin with the nearest shipment.

Analysts believe that after a sharp rise, oil prices may temporarily decline in the near future, but will approach a 3-year high by the end of the marketing year.

According to forecasts of OIL WORLD, the leader of price growth will be sunflower oil, the premium for which will increase compared to soybean, rapeseed and palm oils against the background of a sharp reduction in world exports.

In France, crop losses exceeded forecasts due to excessive rainfall, and in the Black Sea region, production fell due to drought, leading to higher sunflower and oil prices.