Oil, gold and silver nose dive yesterday investors sold products by concerns about the health of the global economy.

It ‘was the biggest drop in raw material costs, almost two years, amid negative economic data that showed the U.S. labor market is difficult to recover.

Copper, tin, cocoa, coffee, sugar and lead were among others to take a hit – signaling a possible decline one day after Glencore, the products giant, has unveiled the biggest ever London flotation. Brent futures lost more than $ 10, or 8.6pc, to $ 110.80 dollars a barrel a barrel in London, just weeks after warnings that high prices would strangle growth.

New York, the benchmark West Texas Intermediate oil in the future fell to less than $ 100 for the first time since tensions in the Middle East caused oil prices to hit $ 127 a barrel.

operators are Royal Dutch Shell Oil cartel OPEC noted that demand for fuel has been dampened by high prices in recent weeks. American motorists are feeling the pinch, and the price of gasoline was $ 4 a gallon.

A decline in oil prices will take some time to affect drivers, but will begin to see lower fuel costs, if the fall continues.

Myrto Sokou of Sucden Financial, put the reason for the drop in price yesterday to “renewed concerns about oil demand in China and the United States.”

Oil was by no means the only product to suffer as investors sold metals across the board. The money was the biggest faller in recent days. Now below $ 38 per ounce, it has dropped this week 28pcs.

Just last month, was a 31-year high of almost $ 50 an ounce.

Not gold out of defeat, by 2.1pc $ 1,485.24 an ounce, while platinum fell 3.2pc to $ 1,764.8 an ounce.

There was a series of warnings in recent weeks by the experts that the points of this year, commodity prices have not been supported by the fundamentals of supply and demand. Analysts at Goldman Sachs advised its clients to “sell oil, cotton, copper, soybeans and platinum” rating in a surprise last month. “We now recommend a product of weight over a three to six months,” he said.

Another warning came from International Energy Agency, which warned that it had begun to see the first signs of a slowdown in demand.

“Preliminaries January February and the data suggest that high prices are already starting to dent demand growth,” the watchdog said energy.

However, some believe that the injury is more short-term correction of a breakthrough as the first super-cycle. Tom Gidley-Kitchin, analyst at Charles Stanley Mining, said. “There is no doubt that the goods have been extended, but I do not see anything approaching panic I do not feel that this will be more than just the withdrawal of yet, but if the news continues to worsen, I expect the market to comply with it. “