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WTI Crude Futures Print Fresh April Highs, Post 1% Gains

COMMODITIES
  • Oil Benchmarks extended higher for a second consecutive session. WTI futures made new highs for the month at $64.53 before paring some of the gains as we approached the FOMC rate decision.
  • Little fresh news kept price action muted but signals of growing optimism allowed oil prices to consolidate gains on Wednesday. WTI - $63.84 (+1.43%) Brent - $67.23 (+1.22%)
  • A fairly volatile day for precious metals, largely tracking movements in the US dollar. An initial bid let both gold and silver to their lowest levels for the week, before post-fed USD selling spurred a recovery to broadly unchanged levels.
  • Spot gold $1,780.20 (+0.21%), Spot Silver $26.2230 (-0.17%)
  • Similar price action for Copper. An easing of the tensions in Chile prompted port workers to halt protests. Comments that there were no immediate reports of disruptions to copper exports made prices retreat during the early part of the session, however a pre and post fed rally kept the red metal's persistent rally intact, gaining 0.57% to trade at $4.51 per pound.
Energy BulletsCommodities
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