US EditionOil Extends Rally as Hormuz Stays Closed
Brent crude nears $109 per barrel amid a third week of Strait of Hormuz closure, causing a fifth consecutive weekly gain despite policy measures to ease supply.
5 Articles
5 Articles
Iran war is making the world a little less sweet as oil soars at the worst possible time for sugar
Sugar and gasoline don’t have a lot in common, unless you’re in a sugarcane mill in Brazil, in which case they’re literally the same plant. Usually that’s a fun fact, but right now it’s a problem. Brazil is the world’s dominant sugar exporter—roughly 45% of everything traded globally. Every harvest, mills decide how much sugarcane goes to sugar and how much goes to ethanol. When oil prices are low, the math favors sugar. When oil spikes, ethanol…
Oil Extends Rally as Hormuz Stays Closed
Oil is heading for a fifth straight weekly gain, with Brent near $109, as the Strait of Hormuz remains shut for a third week, keeping supply tight despite policy efforts to ease the market. Friday, March 20, 2026 Oil markets are set to post their fifth consecutive weekly gain (excepting WTI which will see a minor week-over-week decline), with ICE Brent trading around $109 per barrel. Whilst the Trump administration has sought to defuse market co…
Tehran: Iran's near-blockade of the Strait of Hormuz has increased concerns about supply to refineries in the Middle East. Sugar prices have reached a five-month high, according to a report by Arabian Gulf Business Insight. According to this report, sugar futures for May 2026 in New York rose by 3.9 percent on Thursday. While the price of white sugar for May delivery in London 'ICE' closed with a gain of 3.2 percent. Ethanol is becoming expensiv…
The war is raising oil prices, and the first disruptions are already being seen at the pumps and in agriculture.
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