Financial markets
Crude oil prices spiked to almost two-month highs as traders anticipated an invasion of Kuwait, but quickly fell back as President Clinton reassured Saddam Hussein that the US remained committed to protecting its interests in the region. The price surge caught analysts off guard, with many citing the knee-jerk reaction
Financial markets
Hog futures prices plunged to their lowest levels in 14 years on the Chicago Mercantile Exchange, as record supplies continue to flood the market. The Commodity Research Bureau's index of 21 commodity prices fell 0.74 point to 230.30, a stark indicator of the market's
Petroleum
Crude and product futures suffered a significant decline Monday, following news that striking Brazilian oil workers were ordered back to work. The Brazilian Supreme Labor Tribunal's decision was a major factor in the market's downturn. The strike, which began over the weekend, had already led to
Financial markets
A strong US economy is fueling inflation concerns, causing investors to shift their focus to precious metals. Gold prices hit a 13-month high, with the December contract reaching as high as $399.10 an ounce before settling at $397.20. Silver and platinum also saw gains, with December silver rising
Financial markets
Oil prices rose sharply yesterday as traders shifted their attention to the approaching winter heating season, while global tensions and market developments in key commodity markets further fueled the surge. Diplomatic efforts and market news from various sectors influenced prices, with leaders in the energy trading and analysis industries weighing
Financial markets
Platinum prices have seen a significant surge on the New York Mercantile Exchange, reaching their highest level in over three and a half years. The rise in prices can be attributed to forecasts of strong Japanese demand, bolstered by investment-fund buying. Traders are also concerned about potential supply disruptions due
Financial markets
Speculation among coffee traders that the damage to Brazil's coffee crop from two recent freezes was not as bad as initially thought sent prices plummeting yesterday. The Brazilian Government had estimated the first freeze destroyed approximately 10 million 132-pound bags of coffee, reducing the anticipated 1995-96 crop to
