
May NY world sugar #11 (SBK26) on Friday closed up +0.38 (+2.77%), and May London ICE white sugar #5 (SWK26) closed up +8.00 (+1.97%).
Sugar prices settled sharply higher on Friday amid soaring crude oil prices. WTI crude oil (CLJ26) surged more than +12% on Friday to a 2.5-year high, which benefits ethanol prices and could prompt the world's sugar mills to divert more cane crushing toward ethanol production rather than sugar, thus curbing sugar supplies.