Crude Retreated after Failing to Hold above US$50/bbl; China PMI Suggests Recovery Unsustainable

Failure to sustainably hold above US$50/bbl, both crude benchmarks ended the day lower. The front-month WTI contract initially rose to 50.1 before settling at 49.1, down -0.47% while the Brent contract climbed higher to 50.05 earlier in the day before ending the day at 49.69, down -0.14%. Prices continued to grind lower in Asian Wednesday. Precious metals were mixed.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/crude-retreated-after-failing-to-hold-above-us50bbl-china-pmi-suggests-recovery-unsustainable-2016060133019/