Commodities Tumble, Led By Oil, as Japan Quake Threatens Demand – Bloomberg.com

Commodities Mar 15, 2011 No Comments

Oil WellsCommodities fell for a fourth day, led by a 2.5 percent slide in crude oil, as Japan’s biggest earthquake and nuclear crisis spurred concern that demand for energy and raw materials will shrink.

The Standard & Poor’s GSCI spot index of 24 commodities dropped 1.4 percent, capping the longest losing streak since Aug. 24, to 690.52 at 2:11 p.m. in Singapore as crude futures in New York slid below $100 a barrel and U.S. gasoline lost 2.3 percent. Gold, copper and corn also declined.

via Commodities Tumble, Led By Oil, as Japan Quake Threatens Demand – Bloomberg.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.