8 April 2026Markets & Economy
Soybean oil futures sink 5% on crude collapse
US soybean oil futures plunged 5% as Iran ceasefire hopes crushed crude prices and reduced biodiesel demand expectations. The agricultural commodity had rallied to multi-year highs tracking oil's surge above $115, but fell sharply as Brent dropped to $107. OPEC+ agreed to a modest 206,000 barrel daily increase for May, whilst Saudi Arabia set record $19.50 premiums for Asian buyers. The volatile relationship between energy and agricultural markets highlights biofuel feedstock exposure to geopolitical shocks.
From Oil crash, markets rally as Trump agrees Iran ceasefire