Commodity NewsOctober 18th 2011 Oil Trading: Oil fell yesterday on pessimism by German leaders that the EU summit may not provide full solution to the euro crisis. Phil Flynn, analyst from Chicago said oil has come down, and so did euro, since investors are careful not to invest in risky assets till a euro debt solution is not found. Crude Oil futures for November delivery fell 42 cents to settle at $86.38. Gold slipped yesterday as investors moved away from risky assets and bought dollar, with dollar gaining strength gold is bound to fall. Phillip Streible, a senior strategist said that Europe's progress is being watched closely. US Gold futures for December delivery settled down $6.40 to settle at $1676.60 an ounce. |
Catch up on previous commodity market news stories and views.
Visit our commodities trading forum to post market views and discuss markets like oil and gold. Commodities Forum >>