Continue reading the main story<\/a> <\/p>\nCrude oil prices have recovered after last Thursday’s commodity market rout.<\/p>\n
Brent crude futures rose 6.5% on Monday to over $116 a barrel, still well below their recent peak of more than $126.<\/p>\n
The relief rally comes after a week-long 17% decline in the price – including crude oil’s biggest ever one-day fall on Thursday, which was triggered by weak US economic data.<\/p>\n
Many hedge funds speculating on the market are said to have made double-digit losses because of the crash.<\/p>\n
US stock markets also rose on Monday, with the Dow Jones ending the day 0.4% higher.<\/p>\n
Speculators<\/span><\/p>\nShares also fell last week because of concerns about the health of Western economies.<\/p>\n
However, stock market movements have been much more subdued than the extreme volatility seen in the price of raw materials, particularly crude oil.<\/p>\n
A lot of speculators are thought to have sold their positions during the slump on Thursday, thereby worsening the market fall, and their losses.<\/p>\n
Traders attributed the rebound on Monday to “bargain hunters” rather than to any turnaround in market sentiment about the economy.<\/p>\n
The recovery was also seen in other – but not all – commodity markets.<\/p>\n
Food prices, particularly for grains, also rose.<\/p>\n
The price of silver – which has seen some of the greatest speculation and highest volatility – jumped 11%, following a 33% slide over the previous week.<\/p>\n
However, prices for industrial metals such as copper and aluminium were largely unchanged.<\/p>\n<\/div>\n
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