Commodity Blog |
| Crude Rallies as Supply from Saudi Arabia Falls Posted: 10 Jan 2013 09:02 PM PST Crude oil rallied on falling supply from Saudi Arabia. The Brent grade retreated. The Middle Eastern country slashed its output by 465,000 barrel (4.9 percent), the biggest cut since November 2008, to 9.025 million barrels per day, the lowest level in 19 months. Saudi Arabia reduced production on concerns that exports from other countries may oversupply the market. Crude also rallied on hopes for global economic recovery. [...] |
| ECB Boosts Precious Metals, Gold & Silver Retreat Posted: 10 Jan 2013 06:09 PM PST Precious metals rallied yesterday after the European Central Bank left its monetary policy unchanged. Gold and silver paused the advance today, but platinum and palladium extended the rally. Some analysts have though that the ECB would cut its interest rates, but that did not happen. Bank’s President Mario Draghi warned that weakness of the European economy will continue in 2013: Available statistics and survey indicators [...] |
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