Commodities prices fell across the board on Thursday on fears that record prices are damping demand and concerns about the economic slowdown in the US.

Base metals suffered the largest fall, with losses of up to 10 per cent on the day. Crude oil prices received an initial boost to hover around the $130-a-barrel level from the largest weekly fall in US oil inventories in more than three and a half years. But the fear that high prices are curtailing oil demand continued to weigh on crude.