Crude Oil Dropped on Inventory Gain. Disappointing US Data Supported Gold

26 February 2014 26 February 2014

Kori oTU542

Crude oil declined as inventory increased last week and US weather is expected to get warmer. The front-month contract for WTI crude oil dropped to a 5-day low of 101.02 before settling at 101.83, down -0.96%, while the Brent crude contract erased the gain made a day ago. Gold firmed to a fresh 4-month high as disappointing US data raised hopes that the Fed might defer tapering.