Crude oil fluctuated in a wide range, and palm oil weakened in night trading. On the physical front, spot basis levels were generally stable across most regions, with market participants largely adopting a wait-and-see stance and trading activity subdued. Favorable crush margins have shifted focus toward future shipment schedules and profit dynamics. Expectations of Indonesia's B50 mandate, Malaysia's higher blending ratio, and El Nio-related production cuts continue to underpin forward-month price floors. The near-term pattern of weak spot versus firm forward is expected to persist, with prices likely to trade in a range. Attention should be paid to the DSI and the progress of Indonesia's B50 program.