Commodities Slide Off Peaks; Dollar Looks To Firm Up

A bad day on Wall Street, coupled with the descending dollar, created the perfect storm to quell what has been a remarkable boom for commodities.

On Monday, crude oil futures fell to close at $106.40 per barrel, down from a record opening of $112 per barrel, in New York. Brent crude closed down $106.49 per barrel, down from $110.72, on Friday, while West Texas intermediate was at $105.68, down from $110.21.

Gold hit a record $1,030 per ounce before tumbling to close at $1011.25, still up from its New York close on Friday of $1003.50. Platinum also fell to close at $1,995 an ounce, down from its Friday New York close of $2107.

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- Posted: 2008-03-18 09:54:36

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