Oil, Gold Fall; Natural Gas, Copper Gain: Commodities at Close


25/06/2012 21:35 AST  Bloomberg
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The Standard & Poor’s GSCI gauge of 24 commodities rose 0.3 percent to 565.13 at 4:45 p.m. Singapore time. The UBS Bloomberg CMCI index of 26 raw materials gained 0.64 percent to 1419.162.

CRUDE OIL

Oil traded below $80 a barrel for a third day in New York after a report indicated that central banks will struggle to boost global economic growth, threatening demand for fuel.

Oil for August delivery fell as much as 50 cents to $79.26 a barrel in electronic trading on the New York Mercantile Exchange and was at $79.40 at 3:36 p.m. Singapore time. The contract increased $1.56 to $79.76 on June 22. Prices are 20 percent lower this year and have fallen 23 percent this quarter, the biggest decline since the final three months of 2008.

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