CL
Crude fell to the lowest level in almost six months on rising U.S. stockpiles and production. The spread between WTI and Brent widened to an eight-month high. Crude dropped 1.5 percent. Supplies rose 2.95 million barrels to 391.4 million last week, the 10th gain in a row, according to the Energy Information Administration. U.S. crude production increased 45,000 barrels a day to 8.02 million, the most in almost 25 years. Crude supplies at Cushing, Oklahoma, the delivery point for WTI, increased 676,000 barrels to 40.6 million, according to the EIA, the Energy Department’s statistical arm. Crude fell to 92.20.
GOLD
Gold declined for the third straight day after a report showed rising confidence among American consumers, boosting speculation that the Federal Reserve will scale back monetary stimulus. The U.S. confidence number is telling us that the economy is on the right track, and that’s not so good for gold,” Bart Melek, the head of commodity strategy at TD Securities in Toronto, said in a telephone interview. “While physical demand is a nice story, the support from it is limited.”Gold declined 0.3 percent to settle at $1,237. an ounce.