Crude oil markets got a pop as they tried to look beyond this Greek debt debacle to the expectations that U.S. oil output will continue to fall and tropical Storm Bill in the Yucatan Peninsula may slow operations in refineries and oil platforms in the Gulf of Mexico.
The Dow Jones Industrial Average capped the worst week since 2011, finishing with a 100-point lurch in the final half-hour of trading, as equities tumbled around the world after crude extended declines below $58 a barrel.
U.S. equity-index futures gained, signaling the gauge will recoup some of yesterday’s losses, and copper rose with oil amid signs economies in China and the euro area are strengthening. Treasuries fell and the yen weakened.
The silver-pricing method begun during the reign of Queen Victoria ends today in London as the $5 trillion market shifts to a more transparent process and regulators expand scrutiny of how commodity benchmarks are set.