Crude Oil Leads Broad Fall In Futures On Dollar Rebound, But Cocoa Climbs
Posted on December 07, 2009 at 19:17 PM EST
Oil settled below $75 a barrel Monday for the first time since mid-October, and gold, metals and grains also finished down as a rising dollar weighed on many commodities. But cocoa hit a 25-year peak and coffee touched a seven-week high as supply worries drove these soft commodities higher, bucking the overall trend. On the broader front, analysts were expecting more pressure on commodities should the dollar keep rising and interest rates go up in