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2013-03-06
Commodities


At 06:00 SAST today, Brent crude oil is trading almost unchanged at $111.64/bl, as market reaction to the news of Venezuelan President, Hugo Chavez’s death was muted. Meanwhile, the American Petroleum Institute reported that crude oil inventories rose 5.60mn bls last week. Yesterday, Brent crude oil rose 1.7% to settle at $111.62/bl, as a North Sea pipeline system continued to remain shut following reports of a leak.

Yesterday, corn spot prices rose 0.6% to $7.29/bushel.

At 06:00 SAST today, gold prices advanced 0.2% to trade at $1,578.77/oz. Yesterday, gold gained 0.1% to close at $1,575.50/oz, amid hopes of continuation of stimulus measures by global central banks.

Yesterday, copper rose 0.6% to close at $7,740.75/mt, while Aluminium closed 0.2% higher at $1,932.50/mt, amid reports that China plans to open more than 5,200.00km of new railroad lines and build 80,000.00km of highways in its vow to maintain its goal for economic expansion.

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