Oil falls below 65 dollars.

Tags: Cocoa, Oil, PARIS, U.S., Thailand, NYMEX, Liffe.

During the week of May 17, oil markets have been deserted by investors, pushing the barrel to 64.24 dollars. Gold also fell victim to profit taking after a week record.

Oil: $ 18 lost in two weeks:
The collapse continued on the oil market. The turning point of the week took place Thursday that day, and for the first time since July 2009, the price of oil plunged below 65 dollars in New York, dropping more than $ 5 from Wednesday. On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for June delivery, which was the last trading day, briefly dipped to 64.24 dollars.
Soon after, investors have resumed their minds. Oil prices have stabilized around $ 73 to $ 69 in London and New York, comforted by the lull on the front of the exchanges. But the respite was short-lived. In London, prices have again fallen to 70.20 dollars, its lowest since February. The nervousness was heightened by a surprise increase in weekly unemployment registration in the U.S. . Friday, prices closed lower at 70.04 dollars a barrel.
As always since the beginning of crisis was EuropeAs investors worried about the impact of fiscal restraint on the demand for petroleum products in the region, and more generally on the global economic recovery. In addition a continued rise in crude oil reserves (200,000 barrels announced Wednesday). In two weeks, prices of black gold has dropped almost 18 dollars in New York (20% of their value) and $ 15 in London.

Copper plunges:
Rude week also for base metals, still affected by fears of a slowdown in economic recovery because of austerity policies that bloom in Europe. Courses copper fell to 6,415 dollars per tonne on Thursday, its lowest level since early February. Aluminum fell to 1,950 dollars per tonne, its lowest level in five and a half months. Lead descended to 1721 dollars, the lowest in ten months.
Friday, copper found the path to higher to finish at 6,731 dollars per tonne. Same for aluminum (2036 dollars) and lead (1766 dollars).

Precious metals: gold returns to earth:
The yellow metal back to reasonable levels. After a new record last week, gold has declined, dropping 4.6% on the week, the victim of massive profit taking. The ounce increased from U.S. $ 1249.40 last week to 1166.30 dollars on Friday during the session. On the London Bullion Market, gold finished at 1179.75 dollars at auction Friday evening.
In its wake, money lost 9.77% in five days. The gray metal finished at 17.72 dollars Friday, against 19.64 dollars last Friday.
But many have decks that have suffered the most last week. Widely used in automotive, precious metals could suffer a slowdown in sales in the sector after the cure of austerity in Europe. Palladium plummeted 21% in one week, returning to a level more since December. Platinum, Meanwhile, has lost 13.3% in one week. On the London Platinum and Palladium Market, an ounce of platinum finished in 1492 dollars an ounce Friday, while palladium finished at 419 dollars.

The European wheat is selling well:
The euro / dollar hampering the oil markets has the advantage of boost exports of European wheat at the expense of the American. Coupled with logistical problems (including strikes SNCF), this slows down the course on the futures market Euronext. On Friday, the wheat was quoted at 127 euros per tonne Rouen while in Chicago it was worth U.S. $ 462 (368 euros).
In Chicago Friday wheat ended at $ 472 per tonne corn to 3.69 dollars a bushel soybeans to $ 9.38 a bushel.
Note that Cocoa recovers Having been the victim of a strengthening of the greenback last week. The global cocoa deficit expected to widen, to 69,000 tonnes in 2009/2010, while consumption is expected to accelerate its growth to 4%, according to the International Cocoa Organization. On the LIFFE, a tonne of cocoa for July delivery was trading at 2313 on Friday against 2216 pounds a week before. In New York, he finished in 2879 dollars per tonne against 2,858 dollars per tonne last Friday.
Market sugar has increased its rebound, while thea political crisis in ThailandSecond largest exporter behind Brazil, caused concerns about the offer. On the NYBOT U.S. a pound of raw sugar for July delivery ended at 15.62 cents against 14.88 cents a week earlier.