Commodities Retreat as US Data Disappoint

Commodities retreated after rising yesterday as US growth disappointed. Meanwhile, fears that surging oil prices might dampen economic recovery intensified as G-8 leaders particularly warned of this threat after the summit. The OECD maintained its global growth forecasts but said that the US and Japan must accelerate budgetary efforts to stabilize debts. Deficit problems across the globe shook market confidence. Crude oil retreated gains made over the past 2 days and earlier today with the front-month contract breaching below 100 at one point.

Original post:
Commodities Retreat as US Data Disappoint