Mumbai, 09 Sep (Commoditiescontrol): CBOT soy oil is trading higher, supported by a recovery in crude oil prices. WTI Crude Oil futures increased by 1.27% early Monday due to an approaching hurricane system near the U.S.
Gulf Coast and a rebound from a recent selloff triggered by disappointing U.S. jobs data.
However, the rise in soy oil may be short-lived as the boost in crude oil prices is expected to be temporary. Once weather conditions stabilize, crude oil prices are anticipated to decline, likely pulling soy oil prices down with them.
(By Commoditiescontrol Bureau; +91-9820130172)
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