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Indian-Commodity  :  Commodities  :  Elementary Costs Prolong Its Losses On Friday

Elementary Costs Prolong Its Losses On Friday (09-May-2011)

Crude rates prolonged its drop on Friday, after last day's jump close to 10 % which got oil under $100 a barrel. Improving issues regarding delaying financial progress and weakened requirement for oil because of higher costs assisted maintain pressure on oil, traders looked forward to a key April Nonfarm payrolls record and at first rates went better on help from US Work Division information displaying private employers increased jobs in April at the best speed in 5yrs. But then increasing dollar once again pulled costs lower.

Standard crude for June calmed down $2.62 at $97.18 a barrel, after buying and selling in a array of $102.38 to $94.63 on the NYME. In London, Brent crude for June dropped $1.67 to stay at $109.13 a barrel on the ICE.

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