Sun, Jun 16, 2013 - Page 15 News List

Oil prices buck the trend as commodities suffer

VOLATILE:While oil prices were lifted by the ongoing crisis in Syria and gold gained ground on safe-haven demand, metals, cocoa and coffee all fell

AFP, LONDON

“Coffee futures moved lower Wednesday, undermined by expectations of a large Brazilian crop and a large amount of unsold beans from last season,” Public Ledger analysts said.

By Friday on NYBOT-ICE, arabica for delivery in September dipped to US$1.25 a pound from US$127 cents a week earlier.

On London’s LIFFE, robusta for September dropped to US$1,764 a tonne from US$1,867.

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