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Friday, August 04, 2006

Top 3 Commodity Headlines on Bloomberg This Morning

Oil Little Changed After Falling as Tropical Storm Chris Eases

Crude oil was little changed in New York after falling yesterday as Tropical Storm Chris weakened, easing concern that U.S. pipelines and platforms in the Gulf of Mexico might be damaged during peak summer motoring demand.

[XX My question -- if Tropical Storm Chris was the thing that was huffing and puffing up energy prices, why aren't oil prices going down?]

Copper Leads Gains in Metals on Looming Strike, U.S. Jobs Data

Copper gained the most in four weeks, leading a metals rally on speculation that a looming strike at the world's biggest copper mine will reduce supply and after the dollar fell following a worse-than-expected U.S. jobs report.

Gold Rises as Slowing Economy Erodes Dollar's Value (no link for this one on the web -- sorry)

Gold rose, capping a second straight weekly gain, as signs of a slowing U.S. economy sent the dollar lower against the euro and yen, boosting demand for bullion.
Check out my new gold and energy blog at MoneyAndMarkets.com