Wednesday's Oil And Gold Analysis: Oil Falls Sharply, Gold Edges Up
ICM Brokers | Apr 22, 2015 06:40AM ET
CL
Crude oil futures fell sharply on Tuesday reversing earlier gains on the session, to halt an extended rally that enabled the futures to reach its highest level for 2015. The declines of more than 2% transpired amid escalating conflict in Yemen and ahead of the American Petroleum Institute's weekly supply report. Meanwhile, crude oil extends losses after Saudi Arabia's announcement that it would end its three-week operation against Iran-allied Houthi rebels in Yemen eased tensions in the Middle East.
GOLD
Gold futures edged up on Tuesday reversing some of its losses during the previous session, as concerns over the lack of an agreement on economic reforms for bailout funds between Greece and its creditors remained in focus, fuelling fears that the country could default on its debt be forced out of the euro zone.
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