Page added on May 10, 2010
US Light oil prices are trading back above $77 today from three month lows as commodities get a boost and gold prices hit the $1200 mark after the EU agreed to protect the bloc’s debt-stricken nations with a new EU debt fund.
US Light crude oil futures for June delivery was at $77.17 a barrel in Asian trading, after falling more than $11 or about 13 per cent last week.
Gold prices rose as high as $1210.35 per oz last week, and has its sights firmly set on the December 2009 record high of $1226.10 per oz, traders said.