Home > Commodities Stumble As the Market Retraces!
Print

Commodities Stumble As the Market Retraces!

March 30th, 2009

commodities

Commodities: Crude Oil, Gasoline Decline

Most commodities were weaker in the U.S. Monday, with the majority of agricultural futures joining energy and metals on the downside.

Have you ever wondered how billionaires continue to get RICHER, while the rest of the world is struggling?


"I study billionaires for a living. To be more specific, I study how these investors generate such huge and consistent profits in the stock markets -- year-in and year-out."

CLICK HERE to get your Free E-Book, “The Little Black Book Of Billionaires Secrets”

Crude oil dropped $3.97 to $48.41 a barrel at the New York Mercantile Exchange, and reformulated gasoline was off 11 cents at $1.38 a gallon. Heating oil lost 9 cents to $1.34 a gallon, while natural gas rose.

Gold fell $7.60 to $917.70 an ounce, and silver was weaker by 23 cents at $13.03 an ounce. Aluminum and copper also slipped.

Cocoa, cotton and wheat rose, but frozen concentrated orange juice, soybeans, coffee and corn fell. Prices for lean hogs and cattle retreated.

The Reuters/Jefferies CRB Index gave back 7.09 points to 215.17.

On a day that the stock market overall sold off, most commodity-related stocks were sluggish, as well. Exxon Mobil (XOM QuoteCramer on XOMStock Picks) was down 1.9% at $68.63, and Chevron (CVX QuoteCramer on CVXStock Picks) lost 3.1% to $66.80. ConocoPhillips (COP QuoteCramer on COPStock Picks) surrendered 3.3% to $39.02.

Miners BHP Billiton (BHP QuoteCramer on BHPStock Picks) and Rio Tinto (RTP QuoteCramer on RTPStock Picks) shed around 6% each, and Freeport-McMoRan (FCX QuoteCramer on FCXStock Picks) lost 8.5%.

As for exchange-traded funds, the U.S. Oil (USO QuoteCramer on USOStock Picks) was down 6.7% at $28.70, and the Gold Shares (GLD QuoteCramer on GLDStock Picks) edged lower by 0.8% to $89.98. The Market Vectors Agribusiness (MOO QuoteCramer on MOOStock Picks) fell 5.5% to $28.12.

Source: www.thestreet.com


NYSE:GLD, NYSE:USO, NYSE:UYM


 

Tags: , , , , , ,

Facebook Comments

Comments



  1. No comments yet.
  1. No trackbacks yet.




Copyright 2009-2014 WBC Media, LLC