Soybean oil futures fell to a four-month low. Following the decline in crude oil prices, all parties stepped up diplomatic mediation to prevent another outbreak of confrontation between the US and Iran. Chicago's main contract fell 1.2% on Thursday, the lowest level since July 1. Soybean futures fell by up to 0.7%, hitting a two-month low. According to some sources, Brent crude oil fell below $114 per barrel after restarting diplomatic contacts. Iranian Foreign Minister Abbas Alagzi said that Tehran is still willing to leave room for diplomatic negotiations; US Vice President JD Vance has already communicated with the Iranian government. Donald Trump downplayed the importance of this engagement. Any sign of negotiations between the US and Iran means there is a possibility that the Middle East conflict will ease, and the risk premium for crude oil will fall accordingly.

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