Dhaka, Bangladesh (BBN)– Crude oil continued to decline as rising gasoline inventories in the US reflected lower demand. US refineries increased gasoline output, boosting inventory up to 205 million barrels in the face of reduced demand. Brent for August delivery fell as low as USD 68.80 a barrel.
Gains in USD and rising stockpiles in China pushed copper prices lower. China, the biggest consumer of the metal, is expected to purchase less on rising inventory, pushing copper for three month delivery down 2.1 percent o USD 4,925 a ton, according to reports.
BBN/SS/SI/AD-22June09-11:30 am (BST)