Prison Planet.com » Oil Erases 2011’s Gains on Economy Concern: Crude oil wiped out all of its gains for 2011 and natural gas closed below $4 for the first time since March in New York as concern the global economy is weakening sent raw materials prices tumbling around the world.
Twenty-one of the 24 commodities on the Standard & Poor’s GSCI Index declined slipped as a rout in equities drove the Standard & Poor’s 500 Index to its worst nine-day slump since March 2009. Silver dropped 5.6 percent, gold retreated from a record and wheat slumped the most since June.
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