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Commodities Briefing - Categorized | Oil, Price Watch more

Oil breaches $69 despite fall in demand

Posted on 30 October 2008

From FT: Commodities prices rose sharply on Wednesday, with oil trading above $69 a barrel, as the dollar retreated after the Federal Reserve lowered US interest rates half a percentage point to 1 per cent.

The Reuters-Jefferies CRB index, a global benchmark for commodities, rose almost 6 per cent propelled by a surge in energy, metals and agricultural raw materials. The price of several commodities, ranging from wheat to oil and from nickel to sugar, rose 10 per cent on the day….. Full Article: Source


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