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At 06:00 SAST today, Brent crude oil fell 0.2% to trade at $110.06/bl. Meanwhile, crude oil production near the western Libyan town of Zawara was halted due to clashes between rival militias.
On Friday, Brent crude oil fell 1.3% to settle at $110.26/bl, amid concerns about crude oil demand following downbeat manufacturing data from China and some eurozone nations.
On Friday, corn spot prices rose 0.7% to $7.29/bushel. Meanwhile, US ethanol imports, in which corn is the main ingredient, stood at 32,000.00 bls for the week ended 22 February 2013, the highest level since 2010.
At 06:00 SAST today, gold prices advanced 0.2% to trade at $1,579.15/oz. On Friday, gold declined 0.2% to close at $1,576.23/oz. The US President, Barack Obama, warned that the federal spending cuts would have “ripple effects” through the country’s economy.
On Friday, copper declined 1.4% to close at $7,673.00/mt, while Aluminium closed 1.5% lower at $1,932.00/mt, amid concerns about global economic growth.
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