Oil Drops on Slowing Economies

- June 27th, 2011

Bloomberg reports that oil dropped to the lowest level as data showed slow U.S. consumer spending.

Bloomberg reports that oil dropped to the lowest level as data showed slow U.S. consumer spending.

The market news is quoted as saying:

Crude dropped 0.6 percent after a U.S. report showed consumer spending was little changed last month, raising concern that a slowing U.S. economy will reduce energy demand.

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2 responses to “Oil Drops on Slowing Economies

  1. “all the copper that has been locked up in warehouses could come back onto the market, driving supplies higher and prices lower.”

    Really ? How come LME copper warehouse stocks level is at 5 year low ???

  2. “all the copper that has been locked up in warehouses could come back onto the market, driving supplies higher and prices lower.”

    Really ? How come LME copper warehouse stocks level is at 5 year low ???

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