Crude drops as Saudi oil minister shatters hope for producer cuts

Crude futures settled with a sharp loss on Tuesday after Saudi Arabia’s oil minister, Ali al-Naimi, shattered any hopes that producers would cut back on output to help alleviate the world’s excess supplies. April West Texas Intermediate crude fell $1.52, or 4.6%, to settle at $31.87 a barrel on the New York Mercantile Exchange. April Brent crude on London’s ICE Futures exchange fell $1.42, or 4.1%, to $33.27 a barrel. Source: Marke...

Gold posts 1% gain as haven demand returns

Gold prices tacked on 1% on Tuesday to recoup more than half of what they lost a day earlier, as declines in global stock markets and sharp losses for oil spurred investors to buy into assets perceived as safe. Gold futures for April delivery jumped $12.50, or 1%, to settle at $1,222.60 an ounce, posting its fourth gain in five sessions. Silver for March delivery rose 5.6 cents, or 0.4%, to $15.24 an ounce. Prices for gold had lost...

Hong Kong Shares Track China Markets Lower (Review)

Hong Kong stocks tracked mainland China shares lower on Tuesday, with falls in property and utility sectors offsetting gains in energy and resources plays.The Hang Seng index fell 0.3 percent to 19,414.78 points, while the China Enterprises Index lost 0.6 percent to 8,170.62.Most sectors fell, but energy and resources shares were up on a recent rebound in global commodity and oil prices.China stocks fell on Tuesday as investors took...

U.S. Stocks Slip From 6-Week High as Recent Rally Leaders Falter

U.S. stocks declined from six-week highs, paced by banks as the recent rally’s strongest performers lost momentum while investors assessed global growth prospects amid renewed concern that China will remain a drag. The Standard & Poor’s 500 Index fell 1.2 percent to 1,921.28 at 4 p.m. in New York, a day after surging 1.5 percent to the highest since Jan. 6. Heading into Tuesday’s session, the S&P 500 had rallied 6.4 percent...

European shares backtrack from 3-week high as oil slides

Stocks across Europe on Tuesday fell back from a three-week high, weighed by sliding oil prices and a dreary financial update from mining industry heavyweight BHP Billiton PLC. The Stoxx Europe 600 index ended down 1.2% at 327.78, with all sectors finishing with losses. The index on Monday jumped 1.7% to 331.82, the highest close since Feb. 2, fueled by a rally for commodity shares as prices for oil and metals advanced. But...