Crude Rally to 2-Year High on Strong US Data, Contagion of Egyptian Crisis
BonTradeInvestors turned their focus to US economic data yesterday as the turmoil in Egypt showed no signs of moderation. The upbeat Chicago PMI & personal consumption data sent Wall Street higher. In the commodity sector, crude oil prices also surged with the front-month WTI contract rising 92.84, the highest level since October 2008, before settling at 92.19, up +3.19%. Brent crude also rose with the benchmark contract piercing above 100 for the first time since September 2008. Gold price, however, eased from Friday's rally, losing -0.54%.
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Crude Rally to 2-Year High on Strong US Data, Contagion of Egyptian Crisis
