Crude Oil Under Pressure Despite USD Weakness

9 June 2015 9 June 2015

LeonoraGariepy

Crude oil prices were pressured as China's May crude imports declined about -26% m/m, or -11% y/y. The front-month contract for WTI crude oil fell-1.67% whilst the Brent contract down -0.98%. Gold gained, after losing over the past 3 trading days, on USD weakness, with the benchmark Comex contract adding +0.46%.