Affected by the sharp drop in international oil prices, the domestic oil and fat sector is significantly under pressure today.

Yesterday, the soybean oil market at the CBOT fluctuated at a high level, dragged down by the sharp drop in crude oil today, the American soybean oil market is expected to significantly follow suit. The Malaysian palm oil market fluctuated and fell back yesterday, and today will see a severe pullback following the crude oil market. Domestic soybean crushing volume has decreased, and soybean oil inventory has declined, providing support for price strength. The complex situation in the Middle East, combined with the sharp drop in crude oil prices, will weaken speculation on palm oil as a feedstock. The situation in the Middle East remains the focal point affecting the emotional fluctuations in the oil market. Dragged down by the sharp drop in international oil prices, the domestic oil sector will be significantly under pressure today. Domestic oil spot prices are under pressure at high levels, following the weakening trend of futures, both soybean oil and palm oil are showing signs of retracement.