Tuesday, June 15, 2010

Commodity Market Update

Crude Oil (Brent): The price of crude oil turned down, falling by 3.3% to USD 71.51 per barrel after an 8.7% rise in the previous week. Investors still remained skeptical about market fundamentals, particularly concerns over the ongoing debt crisis in Europe.

Copper: Copper prices fell by 9.2% during amid worries that European debt problems could stall global economic recovery. The metal, which is normally priced in US dollar, was made more expensive as the dollar grew stronger.