Crude oil declined on disappointing US oil inventory. The front-month WTI contract fell for a second straight day, by -2.48%, to 41.71 at low, while the Brent contract was down -2.07%, settling at 44.05 for the day. Precious metal prices climbed higher as US dollar weakened. The benchmark Comex gold contract added +0.4% and the silver contract gained +1.62%. PGMs were more resilient with the Nymex platinum and palladium contracts rising +2.08% and +4.62% respectively.
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Crude Oil Inventory Surprisingly Rose for Another Week, RBNZ Trims OCR, Expects More to Come
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