CL
West Texas Intermediate advanced for a third day amid speculation that crude inventories declined for a second week in the U.S., the world’s biggest oil consumer. Brent was steady in London. “The inventory report will be a key number,” Michael McCarthy, a chief strategist at CMC Markets in Sydney, said by phone today. “Brent is bumping up against a ceiling of $110 a barrel on the charts, while West Texas has got room to move up to about $105.25.” U.S. crude inventories probably dropped to about 388 million barrels, according to the median estimate in the Bloomberg survey of six analysts. Supplies were at 399.4 million through April 25, the most since the EIA began publishing weekly data in 1982.
GOLD
Gold gained 6.8 percent in the first quarter on concern that global economic growth was stalling. The metal slid 28 percent last year on expectations that the Federal Reserve would lower the pace of bond purchase and as equities surged. The Fed has made four straight $10 billion cuts. Gold gained for the second time in three sessions as lower investor confidence in Europe boosted demand for the precious metal as a haven. And trade at 1260.
