[Institution: Middle East Situation Likely to Keep Edible Oil and Crude Oil Prices Elevated] BlockBeats News, March 9, commodity analyst Bin Hui Ong from Fitch's research arm BMI stated that if tensions in the Middle East persist, edible oil and crude oil prices may remain elevated. Stronger demand for biofuel raw materials will provide support for edible oil prices. However, prices will still be influenced by the supply and demand fundamentals of various vegetable oils. Palm oil prices will continue to be supported by Indonesia's ongoing policy risks and seasonal holiday demand. The analyst noted, 'Meanwhile, strong U.S. soybean production may somewhat ease the tightness in the global soybean oil market.' (Jin10)