Sponsored by Digital Look Events

Commodities: Crude ends lower after highs

News for Spread Betters

PreviousPrevious
NextNext

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Monday 10 Mar 2008

LONDON (ShareCast) - Crude ended the session on Friday lower having reached a new high earlier in the day.

Crude oil for April delivery reached an intraday high of $106.54 a barrel but eventually settled down 32 cents to $105.15.

The rise was initially instigated by the dollar's early fall to new lows against the euro, prompting investors to switch their money to commodities.

But a bout of profit taking was instigated on recession fears as the government’s employment report for February came in weaker-than-expected.

Gold also erased initial gains to finish lower on Friday as funds sold bullion for liquidity. April delivery fell $2.90 to close at $974.20 an ounce

Platinum and palladium contracts also pulled back sharply on US recession fears.