Oil remained weak in Asia on Thursday after data showing record US stockpiles sent prices tumbling to the lowest level in nearly six years in the previous session and analysts said a global glut would continue to keep the market under pressure.
Brent edged up on Tuesday, holding above $85 a barrel as robust China oil demand supported prices, although gains were capped by oversupply and lingering fears of a weak global economy.
Implied oil demand at the world's larges
Gold rose for a fourth session on Friday, gaining over 1 percent to hit a two-week high as weaker equities spurred demand for the metal as a safe-haven asset.
Gold, headed for its best weekly performance since October, was also su
Gold edged higher on Friday, staying on track for its third straight weekly gain, helped by a weaker dollar and hopes of a prolonged period of easy monetary policy.
Bullion has gained nearly 10 percent in three weeks – its b
World sugar surplus is estimated around 4 million tonnes in the crop year to September 2012, above an earlier projection in excess of 3 million tonnes.
But strong Asian demand could offset any oversupply, the International Sugar Organizati
Oil reached a 25-month high for a fifth consecutive session on Thursday as a surplus in top consumer the United States subsided and strong industrial output in China sent demand to a record.
US crude for December rose 40 cents to $88.21 a