17
May
Oil Slumps Below $70, Metals Plunge, Gold Rallies on Stock Rout
17 May 2010 Business Week
Crude oil dropped below $70 for the first time since February, copper and aluminum tumbled, and gold rallied on concern the European debt crisis and a slide in global stocks may derail the economic recovery and spur demand for haven assets.
Crude oil fell for a fifth day, losing as much as 2.5 percent to $69.82 a barrel, copper, aluminum and zinc plunged as much as 4.9 percent, while gold increased 0.8 percent to $1,242.45 an ounce. Rubber slumped 4.3 percent.
