Commodities Set for Worst Month Since 2011 Amid Oversupply
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Commodities are set for the biggest monthly loss since 2011 amid a price collapse that drove oil into a bear market and pushed gold to a five-year low.
The Bloomberg Commodity Index is down 9.5 percent in July, the most since September 2011, after dropping to a 13-year low this week. Oil companies such as BP Plc have started a new round of cost cutting, while shares of Freeport-McMoRan Inc., the biggest publicly traded copper producer, fell the most on a weekly basis in six years through July 24. West Texas Intermediate is heading for its biggest monthly fall this year, while copper in London is set for the worst month since January.