Crude futures fell today on news of China's wider-than-anticipated trade gap, snapping a three-day winning streak in the process. The disappointing data, which was attributed to slower export demand, exacerbated pre-existing worries about the economic health of the world's No. 2 oil consumer. Meanwhile, traders also weighed lingering concerns over debt-riddled Greece, as well as disappointing GDP data from Italy. By the end of the session, April-dated oil declined by $1.06, or 1%, to finish at $106.34 per barrel.
Likewise, gold futures also ended their three-day string of consecutive daily wins, thanks to the aforementioned trade data out of China -- which is a significant consumer of bullion. The malleable metal was also pressured by a strengthening dollar. By the time the dust settled, gold for April delivery slipped by $11.70, or 0.7%, to end at $1,699.80 per ounce.
Levels to Watch in Trading:
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