Market News PRICES PLUMMET: Commodities dropped sharply on evidence of a slowing global economy and a decision to release emergency oil supplies into the market. Oil fell 4.6 percent, silver dropped 4.7 percent and heating oil lost 5.8 percent.
Summary Box: Commodities fall on economic concerns |
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ECONOMIC CONCERNS: The Labor Department said jobless claims rose last week. Separately, two reports concluded that June manufacturing production grew more slowly in China and European countries. OIL SUPPLIES: The International Energy Agency, which includes the U.S. and 27 other countries, plans to release 60 million barrels of oil to try to stave off higher energy prices that could strain the global economic recovery. Authors: Commodities - Yahoo! News Search Results |
