Commodity prices plummet on worries for global economy


middle-east-online.com
February 25, 2013

Oil and metals prices retreated this week on worries for the global economy owing to signs that the United States could end its cash stimulus programme and amid a worsening outlook for the eurozone, analysts said.

OIL: Prices fell on worries of an end to the US stimulus programme amid global economic strains and week demand for oil in top consumer nation the United States, traders said.

Oil contracts had tumbled more than $2 on Thursday as traders absorbed poor US jobs data, signs of weaker-than-expected US crude demand and a fall in eurozone business activity.

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