Oil prices fall as investors turn away from the commodity markets

Oil prices wanna go down

In brief: The bulls' support level for gold prices remain low against the uncertainty of buyers in commodity markets.

Oil prices fell under pressure from published economic data. The August futures for delivery of petroleum of mark WTI have fallen by 1,1% to $ 72.14 per barrel. Last week, oil fell by 8,5%. Economic data from the U.S. proved to be controversial, but the expected market report on employment was a lot of negatives.

The number of jobs outside agriculture in the USA in June fell by 125 thousand, while analysts thought that the decrease in amount of 110 thousand unemployment rate fell to 9.5% – investors consider it a positive factor. In the U.S., the volume of industrial orders in May of this year decreased by 1,4% compared with April. This was said in a statement the Ministry of Commerce. Analysts expect decrease in this indicator should not exceed 0,5%. With the exception of orders for vehicles, manufacturing orders in May fell on the April figure at 0.6%. Unemployment in the euro area in May 2010. unchanged at 10%. This is stated in a report published today the European statistical agency Eurostat. Analysts predicted that this figure will be 10.1%.

Anrey Torbinski
2010-07-04 15:19, Commodities.

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