Palm falls on weaker rival oils but poised for fourth weekly gain

KUALA LUMPUR: Malaysian palm oil futures edged lower on Friday, weighed down by weaker rival oils and crude oil prices, but were still on track for a fourth straight weekly gain.

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange slid 8 ringgit, or 0.18%, to 4,543 ringgit ($1,119.79) a metric ton in early trade.

The contract has risen 0.44% so far in the week.