Texas Tea shed over 2% today to settle at US$96.48/bbl, again unable to hold above the US$100 psychological threshold. Good news for consumers, but oil, the lifeblood of the world economy, is essentially a leading economic indicator that provides data up to the minute.
Precious metals, gold and silver were also down. Gold was just edging into negative territory, down a dollar at US$1491/oz,while silver, the more volatile of the two, shed 1.2%at US$34.52/oz.
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