Published on Tue, Mar 16, 2010 at 08:20 | Source : CNBC-TV18
Updated at Tue, Mar 16, 2010 at 12:22
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Crude slips to USD 79.13/bbl on dollar rise
The dollar's gains led to commodity prices slipping. The CRB index ended almost a percent lower. Crude too slipped, after hitting a session lows of USD 79.13 per barrel. The commodity traded only slightly above that level for most of the session.
The dollar index remained strong and stayed just under highs for most of the session. This was triggered by a slide in the euro against the dollar on lack of progress on a financial-aid package for debt-strapped Greece.
The dollar's gains led to commodity prices slipping. The CRB index ended almost a percent lower. Crude too slipped, after hitting a session lows of USD 79.13 per barrel. The commodity traded only slightly above that level for most of the session. It is currently trading at USD 79.6 a barrel.
Copper fell to the lowest price in almost two weeks on concern that demand from China, the world's largest user, may decline as the country takes steps to reign in economic growth. Aluminium, nickel, zinc, tin and lead prices also dropped.
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