20 Mar 2015
Commodity action - Westpac
FXStreet (Guatemala) - Sean Callow, analyst at Westpac Banking Corporation noted the action in the commodity markets overnight.
Key Quotes:
"WTI oil fell 1.6% to $44/bbl – a five-year low, hovering around lows since 2009. Brent crude drifted down to $54.45/bbl."
"Spot iron ore fell 0.9% to $55/tonne, another decade-plus low."
"Q4 15 forwards traded around $51.50/52."
"Gold slipped to $1160 then pushed back to $1171/oz."
"COMEX copper rebounded 3.5% after losing a similar amount Tue-Wed."
Key Quotes:
"WTI oil fell 1.6% to $44/bbl – a five-year low, hovering around lows since 2009. Brent crude drifted down to $54.45/bbl."
"Spot iron ore fell 0.9% to $55/tonne, another decade-plus low."
"Q4 15 forwards traded around $51.50/52."
"Gold slipped to $1160 then pushed back to $1171/oz."
"COMEX copper rebounded 3.5% after losing a similar amount Tue-Wed."