Crude-oil futures tallied a second day of losses, slipping even deeper below the century mark. Both easing tensions surrounding an Iranian oil embargo and the anxieties brought on by potential debt downgrades for EU members were a drag on the commodity. The euro suffered in the process, buoying the dollar and firming a defeat for black gold. By the close, February-dated crude dipped 40 cents, or 0.6%, to $98.70 a barrel. For the week, crude is down 2.8%.
Likewise, gold futures halted their three-day win streak today. As the possibility for ratings cuts loomed, investors shied away from the euro and headed toward the reinforced greenback. Against this backdrop, gold for February delivery dropped $16.90, or 1.03%, to settle at $1,630.80 an ounce. However, the commodity ended the week 0.9% higher, and has added about 4% so far this year.
Levels to Watch in Trading:
At the end of every market day, the staff at Schaeffer's Investment Research reviews the trading day in detail, covering major events and key market developments. Don't miss this critical, timely and insightful report. If you enjoyed today's edition of Market Recap, sign up here for free daily delivery straight to your inbox.
Why OIH Is Finding Key Support at $52
Featured Partners: AOL DailyFinance
© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242
Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: email@example.com
All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.
Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.