Crude Oil Resumes Weakness in Tandem with Drops in Bourses

18 August 2010 18 August 2010

BonTrade

Commodities ease in European session in synchronization with equities. WTI crude oil price drops below 75 after faltering below 76. The market is concerned about today’s inventory report which has risks to disappoint. Gold price slides for the first time in 5 days as rally to a 6-week high spurred profit-taking. European bourses open lower as Vestas, the world’s biggest wind-turbine maker, downgraded its earnings forecasts.