The Standard & Poor’s GSCI gauge of 24 commodities fell 1.1 percent to 643.16, led by gasoline. The UBS Bloomberg CMCI index of 26 raw materials dropped 0.5 percent to 1,531.634
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West Texas Intermediate oil fell after the Cypriot parliament defeated a measure imposing taxes on bank deposits, bolstering concern that Europe’s debt crisis will deepen. WTI’s discount to Brent crude traded in London narrowed to less than $15 a barrel.
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