Wednesday, May 12, 2010

Commodity Market Update

Crude Oil (Brent): The price of crude oil (Brent) fell by 69 cents to USD 85.73 per barrel as a surge in U.S. crude inventories provoked negative sentiment, following the downgrade of credit ratings for Greece, Spain and Portugal.

Gold: The price of gold rose by 3.5% over the week as worries over Greece's ability to resolve its debt problems prompted investors to buy gold as a safe haven.