Soy Oil Heads for Longest Run of Weekly Gains Since Last April

Soybean oil in Chicago headed for its longest streak of weekly gains in almost a year as the Middle East war kept crude near $100 a barrel, boosting the appeal of the biofuel feedstock.

While the price of the vegetable oil slipped on Friday, it’s still at levels not seen since 2022. Soybeans were also lower, while soybean meal rose.

Crude oil markets have had one of their most volatile weeks ever, with investors bracing for more upheaval after Iran pledged to keep the vital Strait of Hormuz effectively shut. Prospects of the conflict dragging on have focused attention on ...