Crude-oil futures pushed lower in volatile action during European trading hours on Monday, as another investment bank slashed its price forecasts and investors braced for another week of potential market upheaval.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in February CLG5, +2.66% traded at $48.17 a barrel in recent trade, down 63 cents, or 1.3%, in the Globex electronic session. March Brent crude LCOH5, -0.20% on London’s ICE Futures exchange fell 52 cents, or 1%, to $49.63 a barrel.
Elsewhere in the metals complex, high-grade copper for March delivery HGH5, +1.31% fell 4 cents, or 1.5%, to $2.58 a pound.
March palladium PAH5, -0.42% rose $12.25, or 1.6%, to $766.55 an ounce, while April platinum PLJ5, +0.00% fell $5.60, or 0.4%, to $1,263.8 an ounce.
Gold prices slipped Monday, easing from a gain last week that marked the precious metal’s best weekly performance in more than a year.
Gold for February delivery GCG5, +0.94% shed $2, or 0.2%, to $1,274.90 an ounce in electronic trading. Floor trading at the CME was closed Monday for the Martin Luther King, Jr. holiday.
