Oil plummets from three-month high amid signs gains excessive

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Source: Bloomberg
Oil tumbled amid speculation that its increase to a three-month high level might have been excessive. WTI for February settlement fell to $92.49 a barrel, down 63 cents, and futures soared 1.4% to $93.12 a barrel, the most since September 18, while Brent oil for February delivery dropped 65 cents, or 0.6%, to $111.82 a barrel and New York crude was set at $92.48 a barrel.

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Thu, 03 Jan 2013 09:37:26 GMT

U.S. equities inch higher as budget deal averts "fiscal cliff"

U.S. blue chips rallied on Wednesday, as a budget deal was reached to halt the so-called "fiscal cliff" effect with automatic tax increases and spending cuts that would push the world's biggest economy into recession. The Dow Jones Industrial Average added 2.4% to 13,412.55 with all 30 stocks in the index edging higher. Investors' confidence was also boosted up by

Thu, 03 Jan 2013 09:47:53 GMT

Wheat plunges ahead of index funds rebalancing

Farm commodities were mixed on Wednesday, with softs ending higher and grains sliding. Improved risk appetite after the US lawmakers agreed on fiscal reform supported rural commodities. However, signs of weak demand for US exports, firm US Dollar and upcoming index funds' rebalancing continued to create pressure on grains.Wheat tanked to a six-month low on preparation for index funds sales

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