Crude Declined on Poor Manufacturing Data and Strong USD

After gaining +9.3% in February, the front-month contract for WTI crude oil slid -1.2% on the first day of March amid USD's strength and disappointing China and US PMI data. The black gold surged to as high as 80.62 Monday before closing at 78.7. While stronger-than-expected personal spending boosted equities, it failed to support commodities.

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Crude Declined on Poor Manufacturing Data and Strong USD