Sugar can correlate with crude oil because Brazil is the world’s leading free-market sugarcane producer, and Brazilian sugarcane is a primary ingredient in Brazilian ethanol production. Given crude oil’s price action, world sugar futures have been tame, suggesting an underlying weakness in world sugar prices.Sugar cube pyramid by Artefacti via iStock
Was World Sugar’s Price Weak Considering the Action in Crude Oil?
Written on 05/26/2026
Andrew Hecht

