Coffee Climbs on Iran Conflict Concerns and Tight Stockpiles
A worker packs coffee cherries during a harvest in Jacutinga, Minas Gerais state, Brazil.
Photographer: Victor Moriyama/BloombergArabica coffee climbed the most in two weeks in New York on concern that the Middle East conflict will keep logistics costs elevated as exchange stockpiles remain tight.
While an extended ceasefire in Iran reduces the immediate risk of renewed combat, there’s still no sign that the vital Strait of Hormuz oil and gas corridor will reopen soon.