| Crude slips further in holiday trade Oil slipped further on Friday amid light trading as bleak US jobs data continued to weigh on the market  Overview: US jobs data lead equities lower Global markets began the second half of the year nervously after signs that the economic recovery, which many were predicting to be around the corner, may yet be some way off Questions grow over oil spike brokerage PVM Oil Associates manager wrote bullish note on rising prices before rogue trade discovered Market snap-back For the first time since the turning point in early March, investors are openly worried again that the darkest days may be ahead, not behind them Overview: US jobs data sideline risky investments Investors recoiled from more daring assets after a sharp drop in US employment set back hopes for a quick revival of the world's largest economy Overview: Upbeat data fuel risk appetite Global risk appetite gathered steam as the second half of the trading year began and investors digested manufacturing reports from the major economies Commodities fears after El Niño alert Australia's weather office says that the emergence of the weather phenomenon El Niño now seems all but certain Overview: Strong quarter for equities ends on dull note Disappointing US consumer confidence data offer a timely reminder of the headwinds facing the global economy US surge in planting hits crop prices Move eases pressure on global food prices and will also lower concerns about a return of the 2007-2008 food crisis, China rejects miners' iron ore price deal The expiry of some of Rio's contracts with Chinese steelmakers will allow the miner to sell at spot rates, which are already above the benchmark View of the Day: Oil and emerging markets Oil's recent rise won't foster the return of petrodollar recycling that boosted emerging market assets in the past, says David Lubin at Citigroup India concerns push sugar to three-year high Concerns that the world's largest consumer and producer could suffer another disappointing sugar cane harvest next season raises prices Prospect of El Niño blows crop prices higher The climatic event – caused by a rise in the tropical Pacific water temperature – has triggered gyrations of food prices Stalemate on key iron ore talks The world's biggest miners were locked in tense talks with Chinese steelmakers over a new iron ore supply deal, with Rio Tinto threatening to sell the ore into spot markets should no agreement be struck India gold dealers tap domestic stocks Indians are set to begin trading on the new bullion market in a move likely to mobilise the thousands of tonnes of the precious metal hidden under beds as savings News Wizard |