Malaysian palm oil futures extended recent gains to trade near MYR 4,900 per tonne, reaching their highest level since early April. Prices drew support from firmer edible oils on the Dalian and Chicago markets, while higher crude oil prices added to the bullish tone amid uncertainty over shipping through the Strait of Hormuz and the risk of disruptions to global trade flows. The Malaysian Palm Oil Council projected prices would remain firm above MYR 4,600 in September, citing tightening supply and trade disruptions. Upside momentum was tempered by elevated inventories after Malaysia’s palm oil stocks rose to a five-month high in July, and demand risks persisted in India, where record soyoil imports expected in August could curb palm oil buying as refiners favor the cheaper alternative ahead of festive demand. Export readings were mixed, with Intertek reporting Malaysian palm oil product shipments fell 7.9% in August 1-15 from the same period in July, while AmSpec estimated a 3.2% increase, leaving traders cautious on the near-term outlook.