Commodities strengthened as the FOMC minutes for the April meeting suggested that a rate hike in June is unlikely. Crude oil’s rally was also driven by further decline in US oil inventory. The front-month contract for WTI crude oil rose for the first time in 6 days, gaining +3%, whilst the Brent crude contract added +1.58% after dropping over the past 2 days.
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Crude Jumped as Fed Indicated Hike in June Unlikely, Inventory Continued to Fall
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