{"id":11833,"date":"2010-08-17T09:13:36","date_gmt":"2010-08-17T07:13:36","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/11833\/brent-oil-price-hovers-at-75-mark-as-gold-commodities-rise\/"},"modified":"2010-08-17T09:13:36","modified_gmt":"2010-08-17T07:13:36","slug":"brent-oil-price-hovers-at-75-mark-as-gold-commodities-rise","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/11833\/brent-oil-price-hovers-at-75-mark-as-gold-commodities-rise\/","title":{"rendered":"Brent oil price hovers at $75 mark as gold, commodities rise"},"content":{"rendered":"

Brent oil prices are hovering around the $75 mark on Tuesday in light trading as gold prices climb higher and other commodities see gains.<\/p>\n

In London, Brent crude oil futures for September 2010 deliery were trading at $75.60 a barrel, 07.45 on the ICE Futures Exchange, while the most actively traded gold contract, for December delivery gained $8.90, or 0.73%, at $1225.50 an ounce on the NYMEX.<\/p>\n

Both Brent and WTI oil prices, unlike precious metals, are in uncertain waters as worries regarding the health of the US and European economies continue to worry investors.<\/p>\n

In other commodity markets, corn prices climbed as the condition of the US crop worsened following excessive heat, while wheat rallied a day after plunging to the lowest level in almost two weeks.<\/p>\n

December 2010 delivery corn on the Chicago Board of Trade rose as much as 0.9 percent to $4.265 a bushel and traded at $4.2425 at 11:40am Tokyo time.<\/p>\n

“Corn prices got a boost from the US crop weather concern: hotter and drier in the southern Midwest, while there was higher precipitation in the north. This would reduce yields and lead to a cut in production amid increasing demand.” said Hiroyuki Kikukawa, general manager of research at IDO Securities.<\/p>\n

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