Crude and copper prices had a quiet end on Friday to a quarter that has seen prices of fuel and industrial metals buffeted by fears that slowing global growth will undermine demand.
Brent crude is set for a 7.1% loss this quarter, its worst performance in more than two years, while London copper lost more than a fifth of its value, its biggest drop since the financial crisis of 2008.
Europe’s debt crisis and the possibility of Greece’s default have prompted investors to flee commodities and stocks in favor of the US dollar, which is poised for its best monthly gain in 10. Asian stocks fell, extending the worst monthly performance since the most volatile days of the global financial crisis in October 2008.
Fears that Europe’s financial troubles will spread have heightened concern demand for industrial metals will slow as manufacturers in China and the rest of Asia cut production.
Brent crude is set for a 7.1% loss this quarter, its worst performance in more than two years, while London copper lost more than a fifth of its value, its biggest drop since the financial crisis of 2008.
Europe’s debt crisis and the possibility of Greece’s default have prompted investors to flee commodities and stocks in favor of the US dollar, which is poised for its best monthly gain in 10. Asian stocks fell, extending the worst monthly performance since the most volatile days of the global financial crisis in October 2008.
Fears that Europe’s financial troubles will spread have heightened concern demand for industrial metals will slow as manufacturers in China and the rest of Asia cut production.
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