Dhaka, Bangladesh (BBN) – Crude oil declined through the week, as industrial contraction in the Euro region and a stronger Dollar cut the appeal of commodities.
Recovery optimism and declining stockpiles in the US saw WTI and Brent crude return above USD 70 a barrel, closing out at USD 71 and 70.66 a barrel for a weekly loss of 1.1 and 0.8 percent respectively.
Gold touched a three week low of USD 935.20 an ounce midweek, as a rising USD saw commodities fall across the board. The metal ended the week at USD 939.50 an ounce for a 1.6 percent loss below last week.
BBN/SS/SI/AD-19June09-12:22 pm (BST)