the world’s largest super-tanker has been booked by a Chinese trading firm in order to store crude oil at sea, increasing the number of vessels used for floating storage.
Fresh conflict between the Ukraine and Russia resulted in the highest wheat futures in eight weeks in Chicago.
The tone of the global economy has deteriorated over the last month, and it has become apparent that portions of the Euro zone were much softer than expected during the second quarter.
Corn harvest in the Midwest begins next month and experts predict that there will be a significant excess of the crop after months of rain.
Gold futures rose slightly on Tuesday as the conflict between Russia and Ukraine was lowering confidence in the euro zone economy.
As conflict quiets in Ukraine and the U.S. shows signs of pushing back militants in Iraq, Japan’s yen dropped from its three-week high on Monday.
After worries of increased military action along the Ukraine border, gold futures were held in check by a strong U.S. dollar.
The Dow Jones Industrial Average fell below the 17,000 level on Monday, closing at 16,960 and dropping 0.8 percent.
Gold futures fell Tuesday as investors kept a close watch on the conflict in the Ukraine and U.S. economic data revealed likelihood of a continued recovery.
The US recovery looks destined to sneak up on the markets, particularly with the Treasury market.