Surprising Decline in US Inventory Sent Crude Higher, Equities Dropped on Retail Concerns
GroverAtwellCommodity prices remained firm, led by crude oil prices on the surprising inventory decline. The front-month WTI contract rallied to a 2-week high of 46.36 before ending the day at 46.23, up +3.52%. The Brent crude initially soared to as high as 47.75 before settling at 47.6, up +4.57%. However, equities weakened as corporate news weighed on the consumer discretionary sector.
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Surprising Decline in US Inventory Sent Crude Higher, Equities Dropped on Retail Concerns
