Crude Slumped as Distillate Stockpile Rose Strongly

Commodities slumped despite USD's weakness against the euro following the ECB meeting. The selloff in crude prices was mainly driven by the surprisingly increase in distillate inventory and Russian Energy Minister's confirmation that the OPEC would not cut output at Friday's meeting. The front-month contract for WTI crude fell -2.64% whilst the Brent contract was down -2.58%.

from Oil N' Gold Focus http://ift.tt/1GlKnec