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Commodities Weekly: Oil slides as US-Iran tensions abate

From marketpulse.com

Oil prices fell from nine-month highs last week and have extended losses into this week, as escalating tensions between the US and Iran subsided. Gold also fell as safe-haven plays were scaled back, while agricultural commodities are higher, awaiting the signing of phase one of the US-China trade deal tomorrow. Energy Crude oil prices have fallen for the past six sessions as the threat of escalating retaliation attacks in the Middle East appear to have disappeared. Last week saw the biggest weekly drop since mid-July for West Texas Intermediate (WTI), which touched the lowest level since December 6 yesterday. Saudi ... (full story)

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  • Category: Fundamental Analysis