Wednesday, May 19, 2010

Oil, Copper, Zinc Tumble as Commodities Slide on Euro Concern


By James Poole
May 19 (Bloomberg) -- Crude oil, copper, zinc and rubber dropped on concern Europe’s debt crisis will worsen, derailing economic growth and hurting demand for commodities.

Oil for June delivery slumped as much as 2 percent to $68.05 a barrel before trading at $68.14 at 8:46 a.m. Singapore time. Copper for three-month delivery declined 2.8 percent to $6,505 per ton, zinc slid 3.5 percent to $1,871 per ton and rubber fell 1.6 percent to 257.80 yen per kilogram.

(bloomberg.com)
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