COMMODITIES

Key precious metals tumbled in late business on Thursday as bullion investors sold their holdings following declines in stock markets and increased worries about credit market troubles.

Prices of metals, energy and grains tumbled on Thursday as commodities were caught up in a global rush out of risky investments for the safety of cash.

Oil dropped $2 on Thursday as credit and economic fears pounded global financial markets and as a storm threat to U.S. Gulf refineries and rigs receded.

World oil demand forecasts are falling into a widening range, adding to uncertainty that may steer OPEC towards doing nothing when it meets on September 11, analysts said on Wednesday.

Oil prices rose on Tuesday as concerns about a newly formed tropical storm in the Atlantic countered fresh troubles in credit markets.

Oil prices climbed above $72 a barrel on Monday as calming financial markets on the back of cash injections by central banks worldwide put the spotlight back on robust energy demand expectations.

Oil prices slipped below $71 on Friday, as worries over threats to economic growth from a deepening credit squeeze in global financial markets outweighed forecasts for robust oil demand.

Oil edged below $72 a barrel on Thursday as concerns over a slowing U.S. economy overshadowed an unexpectedly steep drop in fuel stocks in the world's top consumer.

Oil steadied on Tuesday after the previous session's near 5 percent slide, supported by a rebound in equity markets and expectations for a fifth weekly drop in U.S. crude inventories.

Gold drifted lower on Tuesday as the dollar broadly gained ahead of a U.S. Federal Reserve policy meeting and accompanying statement.

Gold slipped in afternoon trade in New York on Monday after hitting one-week highs on a weaker dollar, as oil prices plummeted and concerns about credit markets resurfaced.

Oil prices fell more than 5 percent on Monday, the biggest slide since December 2004, as concern about the U.S. economy rippled through financial and commodity markets.

Oil hovered near $77 a barrel on Friday, near this week's all-time high, as continued output restraint by OPEC raised concern over tighter fuel supplies this winter.

Oil rose near an all-time high on Thursday as OPEC officials said the producer group would not hike output despite concerns of a supply shortfall.

Oil hit a new record high above $78 on Wednesday after a larger-than-expected drop in crude inventories in the United States.

U.S. oil climbed above $77 on Wednesday, inching towards its all-time high, on forecasts for another weekly decline in crude stocks in top consumer the United States and a recovery in world share markets.

U.S. gold futures bounced in quiet trade early on Monday, after a volatile week when the market sold off heavily on risk aversion, as investors looked for new impetus during the usually slower summer months.

Oil steadied above $75 on Friday, supported by the fundamentals of energy supply and demand and shrugging off immediate worries over corporate borrowing costs and the U.S. economy that roiled stock markets.

Oil fell more than $1 on Thursday, erasing an earlier rally as a drop in U.S. stock markets raised concerns about demand growth in the world's top consumer.

Near record oil prices are expected to keep most investors keen, even though one of the Dutch pension funds that helped to lead an inrush of financial players is reviewing its exposure.

Oil prices slipped for a fourth day on Wednesday on forecasts of higher refinery production in the United States that would ease worries over fuel supplies during peak summer demand.

Oil fell more than $1 towards $75 a barrel on Tuesday after further assurances from OPEC that it would pump more crude if needed and expectations of higher U.S. fuel stockpiles.

Gold fell slightly on Monday but held near 10-week highs as the precious metals market took a breather from last week's rally, but a weakened dollar and more bullish sentiment limited losses.

Oil fell below $77 a barrel on Monday as some funds booked profits after OPEC expressed concern over near-record prices and pledged to pump more crude if needed.

David Schlesinger and Simon Webb OPEC is concerned about the potential impact of the near-record price of oil on the world's economy but has seen little sign that growth has been hit by higher energy costs, the group's president said on Sunday.

Oil steadied on Friday near $78 a barrel, supported by concern that rising demand will strain supplies already thinned by U.S. refinery glitches and output disruptions in Africa.

Gold climbed to a new 10-week high on Friday on follow-through buying, supported by a weaker dollar that hovered near a record low against the euro.

Oil resumed its march towards record highs on Thursday, climbing above $77 a barrel after a surprise drop in gasoline stocks in the United States and heightened supply concerns in Africa.

Oil steadied below $76 a barrel on Wednesday after two days of losses, as investors awaited weekly U.S. inventory data expected to show refineries running harder to churn out more gasoline.