Weak Economic Sentiment Sparks Selloff Across Commodities

Commodities , Economic Indicators Aug 24, 2010 No Comments

Fresh worries about the U.S. economy rattled commodities markets, sending prices of several benchmark materials to their lowest levels in months.

Growth-sensitive commodities such as crude oil and copper frequently follow the lead of stock markets as a proxy for demand expectations. The front-month October oil futures contract fell 2%, settling below $72 a barrel for the first time since early July. Gasoline futures slid to $1.8494 a gallon, the lowest closing price since December 2009. Copper fell 1.6%.

via Weak Economic Sentiment Sparks Selloff Across Commodities – WSJ.com.

Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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