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At 06:00 SAST today, Brent crude oil fell 0.3% to trade at $107.85/bl. Yesterday, Brent crude oil fell 0.9% to settle at $108.14/bl, after the US Energy Department reported that crude oil stockpiles climbed 2.60mn bls to 384.00mn bls last week. Additionally, the International Energy Agency lowered its forecast for global crude oil demand for 2013, citing slower-than-anticipated Chinese business activity and high unemployment in Europe.
Yesterday, corn spot prices fell 0.4% to $7.34/bushel.
At 06:00 SAST today, gold prices declined marginally to trade at $1,587.35/oz. Yesterday, gold declined 0.3% to close at $1,587.70/oz, on signs that the US economy is recovering following better-than-expected retail sales data.
Yesterday, copper declined 0.5% to close at $7,758.00/mt, while Aluminium closed 0.8% lower at $1,923.50/mt, amid worries that the Chinese government might increase its efforts to cool the nation’s housing market.
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