Oil and gas prices fell sharply on Wednesday as Iran considered a new US proposal to end the conflict, raising hopes that flows through the Strait of Hormuz could gradually resume.
Industrial metals rallied during Wednesday’s trading session as signs of progress towards a US-Iran deal improved risk appetite and eased fears of a broader energy shock.
Sugar prices dropped sharply, with No.11 raw sugar down around 6% intraday, tracking softer crude oil prices.
