Commodities Pare Gains as European Data Disappoints

Commodities retreated in European session as Eurozone’s confidence data came in weaker than expected, signaling the pessimistic outlook of the bloc. Moreover, investors believed that EU summit will again be a non-event. The front-month contract for WTI crude oil retreated after rising over the past 2 days while the equivalent Brent crude contract also eased as the impact of the Norwegian strike has already been priced in.

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Commodities Pare Gains as European Data Disappoints