The US-Iran talks failed, and the United States announced a blockade of maritime traffic at Iranian ports starting April 13. International crude oil prices surged sharply. Palm oil is expected to open higher following the rise in crude oil. Expectations of extreme El Nio weather are gradually strengthening, which could lead to a decline in future palm oil production. Before any output cuts materialize, weather-related themes will provide long-term support for futures prices. However, China has booked relatively large import volumes for April, while demand has yet to show significant improvement. Inventories are likely to remain elevated, putting downward pressure on spot basis prices.