Dhaka, Bangladesh (BBN) – Crude oil ended this week slightly higher than last week: NYMEX WTI closed out 13 cents higher at 57.73 while Brent crude ended the week 19 cents up at 57.24.
Crude saw the highest single day decline (1.4 percent) during the week, after touching a six month high of US$ 60.02, according to reports.
Copper ended the week 1.8 percent down at $4,507 a ton on the LME. Equity losses across the board saw investors lose confidence in the strength and scope of recovery from global recession.
Copper also fell to victim expectations of lower demand from China, the largest consumer of the metal, and a fall in US housing prices.
Gold rose 1.4 percent above last week, to 926.20 as investors fled falling equity markets for safer assets.
BBN/SS/SI/AD-15May09-11:44 am (BST)