WCU: Commodities crumble to lowest level since 1999

The persistent oil supply glut and rate hike concerns kept crude prices under pressure, while El Nino worries supported some food crops. The Bloomberg Commodity index fell to a new 16-year low as crude oil extended its slide for a second week while long liquidation saw gold hit a five-year low.

from Ole Hansen - Authored content https://www.tradingfloor.com/posts/wcu-commodities-crumble-to-lowest-level-since-1999-6576580?utm_medium=tf4-feed&utm_source=extract