Oil trading was volatile yesterday with the front-month WTI crude oil contract initially rising to a new 31-month high of 113.97 before plunging to 111.69. The contract eventually closed flat at 112.8. Crude oil prices were supported by weakness in the US dollar but at the same time weighed down by disappointing US economic data. Gold and silver strengthened further as Fed’s monetary easing measures fueled inflation expectations.
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Oil Fluctuates as US Data Mixed
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