PETALING JAYA: Commodity prices surged yesterday, with crude palm oil (CPO) price on Bursa Derivatives up by almost 5% in a day, as rising speculative momentum pushed prices of basic raw materials from crude oil to copper to new multiple-months’ highs.
A key commodity market barometer, crude oil futures in New York rose to above US$70 per barrel yesterday in Asian trading hours. Brent crude oil jumped 1.5% in midday London to its highest level since October at US$72.77.
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