Commodities recovered in European session as the selloff yesterday attracted buying interests. Investors remained cautious, awaiting US GDP report later in the NY session. The front-month contract for WTI crude oil rebounded to 85.9 after plunging to as low as 85.11. Heating oil and gasoline prices also rebounded. Natural gas, however, weakened for a second day despite a drop in US gas storage. Gold received support above 1300 but near-term outlook remained bearish.
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Crude Recovers Ahead of US GDP Data
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