Falling oil prices and gold

Turkey continues to buy Iranian gas by gold

The price of a barrel of oil for August delivery U.S. light / August to 78.71 dollars in the markets of Asia today, after falling 3.25 dollars yesterday in New York to 78.20 dollars. The price of Brent blend crude European 89.92 dollars a barrel.

The U.S. light crude fell from $ 84 a barrel at the beginning of this week. Which fell by 26% in less than two months because of poor indicators of the global economy and the European debt crisis, which weakens the demand for energy.

One of these indicators, reports said yesterday that industrial production to the United States and China – the largest energy consumers in the world – has slowed. At the same time figures showed an increase in global oil supplies.

Indicators also reflected the weak demand in the world on the price of gold, which fell in the markets of Asia today at about four dollars an ounce to 1562 dollars.

The price of gold fell yesterday by 2.5% in the largest drop in a single day since late February last