1/20/2016, 11:03 PM (Source: TeleTrader)
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Oil hurts other commodities

As the markets keep a close eye on the oil prices, it looks like that other commodities have also been piling up in the warehouses, as the global manufacturing hubs such as China show signs of a weaker demand.

Two main oil benchmarks spilled more than a half of their respective values in a last quarter period. International crude Brent plunged 44.51% in 3 months, and the North American sweet light WTI turned sour with 40.18% drop in performance in the same period.

At the same time, gasoil prices saw slide of 45.27%, and heating oil burned down 47.75% of its value, according to available market data. Natural gas prices were pressured by 27.57%, according to data observed at the Intercontinental Exchange Europe.

Precious and other metals also bear some of the weight of the last quarter. Silver lost 11.01%, and platinum was lighter in price by 19.70%. Gold remains the refuge at the times of uncertainty, but also performed 6.34% lower in the last three months.

Copper dropped 16.17%, while aluminium’s three months futures lost 4.27%. Nickel lost weight in price 17.79%. There are strong supplies of the iron ore and nickel, while platinum is in high stocks with a tendency to keep the current prices. Zinc is not in an oversupply, but also suffers due to a fall of prices.

Baha Breaking News (BBN) / ZR