Oil drops for the second session ahead of supplies report

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Source: Bloomberg
The crude prices declined for the second consecutive day on Wednesday ahead of US supplies report which is expected to show that stockpiles increased to the record high since 1990. Oil to be delivered in July fell by USD 0.61 to USD 90.15 per barrel. July Brent oil shed 0.4% or USD 0.44 to USD 106.24 per barrel. 
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Wed, 30 May 2012 10:15:04 GMT

Gold drops more than USD 20 on Spain downgrade

Gold fell sharply on Tuesday after Spain's credit rating downgrade. Egan Jones decision strengthened the greenback and affected negatively the dollar denominated precious metal. Gold to be delivered in August plunged 1.3% or USD 20.20 to USD 1,551 an ounce. June Gold contract lost similar amount and traded at USD 1,548.70 an ounce.  

Wed, 30 May 2012 09:53:04 GMT

Spanish yields jump on the downgrade

The yields for Spanish 10-year bonds rose sharply on Wednesday after Egan Jones cut the credit rating of nation's sovereign debt to B. Egan Jones decision sends Spanish notes to junk status. The borrowing costs for Spanish 10-year benchmark bills soared to 6.5b.p. to 6.475% in Wednesday morning. 

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