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Commodities Briefing - Categorized | Oil, Price Watch more

Weak demand fails to stop oil rising above $70

Posted on 06 November 2008

From FT: Commodities prices yesterday rose across the board, with oil surging above $70 a barrel, supported by producers cutting output in response to falling prices and lower consumption. But traders said the gains could be short lived as demand remained subdued.

The worries about weak demand were exacerbated by a report from the United Nations Conference on Trade and Development that warned that “the unfolding financial crisis has spread to international trade with negative implications for developing countries, especially those dependent on commodities”….. Full Article: Source


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