CL
West Texas Intermediate fell for a second day as crude stockpiles remained near record-high levels amid declining fuel demand in the U.S., the world’s biggest oil consumer. dropped as much as 0.4 percent in New York. Crude supplies shrank by 3.43 million barrels to 389.5 million last week, the Energy Information Administration reported yesterday. They were at 399.4 million through April 25, the most since the Energy Department’s statistical arm started publishing weekly data in 1982. Distillate inventories expanded, while a measure of gasoline demand slid from the highest level in almost three years following the Memorial Day holiday weekend in the U.S.
GOLD
Gold price swings dropped to the lowest in almost 14 months, underscoring a deterioration in investor demand for the metal as equities surge to records. The metal’s 60-day historical volatility dropped to 12.905, the lowest since April 11, 2013, when the measure was at 12.165, “There is not much in gold at the moment, and things are calmer in Ukraine,” Tommy Capalbo, a broker at Newedge Group in New York, said in a telephone interview. “Money is flowing into equities as people are more cautiously optimistic about the economy.”
