Oil lower on demand concerns

KUALA LUMPUR: Crude palm oil futures prices on Bursa Malaysia Derivatives closed higher yesterday amid bullish export data for the first 25 days of May, dealers said.

At close, June 2011 jumped RM55 to close at RM3,515 per tonne, July 2011 perked RM53 to RM3,461, August 2011 gained RM36 to RM3,416 and September 2011 rose RM35 to RM3,397.

Trading volume was higher at 21,869 lots compared with 18,689 lots yesterday.

On the physical market, June South was RM20 higher at RM3,470 from the RM3,450 recorded on Tuesday. – Bernama

Source: Business Times

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