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Commodities: Oil and copper futures fall on growth worries

From sharecast.com

Commodity prices gave back most of the prior session's gains amid a darkening outlook for economic growth, with weakness in energy futures the main culprit. As of 1905 BST, front month Brent crude oil futures were falling by 3.96% to $58.87 a barrel on the ICE, alongside a 4.38% fall in RBOB gasoline on NYMEX to $1.6604 a gallon. In the background meanwhile, the Bloomberg commodity index was retreating by 1.10% to 76.74 as the US dollar spot index edged up by 0.15% to 97.9610. Earlier, Germany's Federal Office of Statistics had confirmed a 0.1% quarter-on-quarter contraction in growth in the Eurozone's largest ... (full story)

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  • Category: Fundamental Analysis