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Crude prices could fall to $50 a barrel: Goldman Sachs 13 Oct 2008, 1017 hrs SINGAPORE: Goldman Sachs, one of the foremost bulls on commodities, turned a near-term bear on Monday after conceding that global financial turmoil would take a far bigger toll on demand than first anticipated. "We have underestimated the depth and duration of the global financial crisis and its implications on economic growth and commodity demand," its commodity markets research team lead by Jeffrey Currie said in a report dated Oct 13. The bank, which has consistently been at the top of oil price polls for years,...

Opec last month pushed its production to the highest level in its 48-year history even as demand was slipping in the US and Europe, the International Energy Agency (IEA) said on Tuesday. The combination of surplus supply and weaker demand has pushed oil prices to $113.50 a barrel, down 24 per cent in the past month and the lowest level since late April. The effort was led by Saudi Arabia, which had come under increasing pressure for doing too little to compensate for lower supplies from countries outside Opec, where growth has been lacklustre as fields have aged in countries...

Gold Drops 4% to Hit Two-Week Low as Dollar Bounces, Oil Sinks, Bear-Market Rally in Stocks Continues -- Posted Wednesday, 23 July 2008 | Digg This Article | Source: GoldSeek.com London Gold Market Report from Adrian Ash THE PRICE OF PHYSICAL Gold dumped another $12 per ounce Wednesday morning in London, falling more than 4% from yesterday's four-session high. World stock markets continued their sharp rally, meantime, with Europe's 300 largest shares just climbing out of the 20% bear-market loss that hit between Nov. and June. Crude oil fell towards $126 per barrel. The US Dollar pushed the Euro down...