The Strait of Hormuz has been closed again, causing international crude oil prices to reverse losses and rise, which may provide some support to palm oil futures. The MPOB report for Malaysia's palm oil is due to be released, and the market expects a significant decline in ending stocks. Attention will be on how this plays out. Domestic spot prices fell sharply in line with futures, boosting buying interest among traders and downstream users, with transaction volumes expanding. In the near term, palm oil is expected to trade in a volatile range.