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Commodities

Cotton Futures Soar as Crude Oil Tops $100

Guavy AI Editorial Team
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Oil
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Cotton futures are experiencing a midday surge on Thursday, fueled by the rally in crude oil prices. WTI crude has topped $100 per barrel, with cotton contracts rising between 66 to 95 points. The US dollar index is also up, contributing to the increase in cotton prices.

The Cotlook A index rose by 10 points on Wednesday, reaching 96.10. Meanwhile, ICE certified cotton stocks increased by 3,999 bales on September 9, with a total of 50,415 bales now stored.

The Adjusted World Price was raised by another 240 points last week to 73.92 cents per pound and is expected to be updated later today.

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