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Oil Slips with Equities

COMMODITIES

WTI and Brent crude futures traded sharply lower alongside global stock markets Monday, with WTI and Brent off over 4% apiece as risk sentiment soured ahead of the Christmas holidays.

A firm dollar was partly responsible, but concerns surrounding renewed global lockdown restrictions and slipping equity markets also contributed.

Spot gold and silver initially slipped in early trade, with a bouncing dollar pressuring precious metals, but the sagging US equity open helped provide some support headed into US hours. Gold hit a low of $1855.31 before bouncing.

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