Crude futures snapped their five-session winning streak today, as escalating concerns about Europe's fiscal fate weighed on hopes for global energy demand. However, a bullish inventories report helped to ease the blow. Specifically, the Energy Information Administration (EIA) said domestic oil stockpiles fell by 1.4 million barrels last week, defying economists' expectations for a million-barrel surplus. Nevertheless, crude for December delivery finished with a loss of $1.10, or 1.1%, at $95.74 per barrel.
Gold futures also settled in the red today, ending lower for the first session in three. A rebounding greenback pressured the malleable metal downward, spooking foreign-currency holders from the dollar-denominated commodity. By the close, December-dated gold futures fell $7.60, or 0.4%, to end at $1,791.60 an ounce.
Levels to Watch in Trading:
At the end of every market day, the staff at Schaeffer's Investment Research reviews the trading day in detail, covering major events and key market developments. Don't miss this critical, timely and insightful report. If you enjoyed today's edition of Market Recap, sign up here for free daily delivery straight to your inbox.
The One Overseas Market That's Trending Higher in 2014
Featured Partners: AOL DailyFinance
© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242
Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: firstname.lastname@example.org
All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.
Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.