Commodities Fall Most in Six Weeks on IEA Plan to Release Oil
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Commodities fell the most in six weeks as the International Energy Agency announced plans to release emergency crude-oil supplies, and U.S. jobless claims rose more than forecast, signaling a fragile U.S. economy.
The Standard & Poor’s GSCI index of 24 commodities dropped 24.47, or 3.6 percent to 648.75, the biggest drop since May 11. Energy prices led the slump. The gauge is down 8.3 percent this month after declining 6.8 percent in May.