Palm oil-gas oil (POGO) spread is positive again.
- The correlation between CPO and crude oil prices has moderated to 0.75x (from a high of 0.9x at the start of the US/Israel-Iran war). With this, the POGO spread is back to being positive (CPO > gas oil), albeit at a narrower +US$11.70/bbl (vs -US$43/bbl at end-March and +US$52/bbl in early 2026).
- - Read this at SGinvestors.io -
Three geopolitical scenarios.
- Read more at SGinvestors.io.
Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.
Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2026-04-30
Read also RHB's most recent report:
2026-05-04 Wilmar International - Hedging Losses Amid Volatile Trading Environment.
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