May NY world sugar #11 (SBK26) rose $0.47 (+3.33%) while May London ICE white sugar #5 (SWK26) gained $5.70 (+1.38%). The move was driven by a fresh surge in oil after reports that Israel bombed 30 oil depots in Iran, prompting cross-commodity buying and implying higher energy-related costs and continued volatility for sugar and other commodities.
May NY world sugar #11 (SBK26) rose $0.47 (+3.33%) while May London ICE white sugar #5 (SWK26) gained $5.70 (+1.38%). The move was driven by a fresh surge in oil after reports that Israel bombed 30 oil depots in Iran, prompting cross-commodity buying and implying higher energy-related costs and continued volatility for sugar and other commodities.
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Request DemoOverall Sentiment
mildly positive
Sentiment Score
0.25
