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Commodities Briefing - Categorized | Oil, Price Watch more

Brent oil drops 3 pct to near $100 in commodities rout

Posted on 16 April 2013

Brent crude oil fell by almost 3 percent to near $100 a barrel on Monday, extending a two-week selloff that has sliced nearly 10 percent off prices,as part of a wider flight by investors from commodities.
Gold posted its biggest two-day loss in 30 years while Brent crude fell for the eighth time in 10 sessions in what analysts said were indications that a host of weak fundamental signals dominated sentiment. In the United States, crude oil stockpiles have ballooned to a 30-year high as domestic output surges, with no end in sight. Global demand has struggled due to economic uncertainty in top consuming nations………………………………………..Full Article: Source


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