CL
Crude futures rebounded on Monday after touching down to six-year lows in overnight trading, amid a weaker dollar and a Midwest refinery shutdown that enabled gasoline futures to enjoy its highest one-day move in more than a month. On the New York Mercantile Exchange, WTI crude for September delivery traded in a tight range between $43.39 and $45.01 a barrel, before settling at 44.94, up 1.07 or 2.50% for the session. It marked the strongest one-day move in U.S. crude futures in more than two months. Texas Long Sweet futures are coming off one of their worst three-week stretches in a period of several years, after plunging more than 13% since July 20.
GOLD
Gold surged on Monday experiencing its strongest one-day moves in nearly two months, amid dovish comments from a prominent Federal Reserve official on the timing of the US Central Bank's first interest rate hike in nearly a decade and continuing concerns surrounding the economy in China. Fed governor Stanley Fischer insisted on Monday that lift-off for a September rate is not a certainty, in spite of solid numbers last week from the U.S. Department of Labor's July national economic situation report. In an exclusive interview with Bloomberg, Fischer indicated that while the labor market is moving closer to full employment, inflation still remains below the levels needed to allow the Fed to normalize policy.