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Barchart
Barchart
Rich Asplund

Sugar Prices Jump as Crude Oil Surges

Oil India ISO Thailand FAs Iran ISMA Israel London USDA

May NY world sugar #11 (SBK26) is up +0.47 (+3.33%), and May London ICE white sugar #5 (SWK26) is up +5.70 (+1.38%).

Sugar prices continued higher today on the fresh surge in oil prices seen after Israel bombed 30 oil depots in Iran. The rally in oil prices benefits ethanol prices, encouraging the world's sugar mills to divert more cane crushing toward ethanol production rather than sugar, thereby curbing sugar supplies.

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