Oil rallies after IEA report

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Source: Marketwatch

Crude futures advanced after the IEA reported larger than expected decline in US crude oil supplies. The US crude oil supplies decreased by 10.6 million barrels last week. Experts at Platts projected the fall to be 2.4 million barrels. Crude oil for delivery in February added 1.8% to $98.97 a barrel.

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Thu, 22 Dec 2011 08:08:18 GMT

Asian markets decline on ECB decision

Asian equity markets tumbled on Thursday after ECB agreed to provide massive lending to European banks, bolstering investor caution. Some analysts suggest the cheap cash will only encourage lending among banks and will not contribute to the reduction of debt burden. Japan's Nikkei Stock Average fell 0.7%, Hong Kong's Hang Seng Index gave up 0.5% while South Korea's Kospi dropped 0.3%. Australia's S&P/ASX 200 index edged

Wed, 21 Dec 2011 17:09:43 GMT

Gold futures fell after one-week high after the ECB tender

Gold futures declined after one-week high following the ECB allotment of the record amount of loans to the European banks as part of its refinancing operation. On the Comex division of the New York Mercantile Exchange, gold futures for delivery in February traded at USD1,616.05 a troy ounce at the U.S. morning trade, losing 0.1%.

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