Crude Oil Jumped as Risk Appetite Improved and Inventory Drew. Commodity Currencies Performance Diverged

After dropping for 3 days, crude oil jumped as driven by strong equity market and resumption of European flights. Broad-based draws in oil inventory reported after market close boosted prices further higher. The benchmark contract for WTI crude settled at 83.85, up +2.95%. Intraday day high was 84.52. Today in Asian trading session, crude oil extends gain as investors speculate the US Energy Department will report another week of inventory decline today.

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Crude Oil Jumped as Risk Appetite Improved and Inventory Drew. Commodity Currencies Performance Diverged