The blockade of the Strait of Hormuz has led to continued sharp gains in international crude oil prices, with palm oil futures following suit. Malaysian palm oil inventories are expected to decline month-on-month in February, and the Malaysian futures market continues to rise. Foreign seller quotes are following the uptrend. Negative profit margins for near-month shipping contracts have deepened, while profits for far-month contracts remain favorable. Attention is focused on recent vessel procurement activities. Domestic commercial inventories are high, and demand is sluggish, putting pressure on basis quotes. In the short term, palm oil prices are expected to fluctuate with a weak bias.