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Crude Rally Stalls, Prices Consolidate

COMMODITIES

The fearsome oil rally posted over the past fortnight is showing the first signs of stalling Thursday, with WTI and Brent crude futures prices lower for the first session in 10. Declines are very mild so far, and there's relatively little risk of a material reversal just yet, but today's price action shows the market isn't quite one-way. EIA Nat Gas storage change data due later today takes focus going forward.

Gold and silver are non-directional so far. Gold trades inside the Wednesday range so far, with the 50-, 200-dmas holding as firm resistance at $1859.74 and $1856.37 respectively.

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