Surprising Decline in US Inventory Sent Crude Higher, Equities Dropped on Retail Concerns

Commodity prices remained firm, led by crude oil prices on the surprising inventory decline. The front-month WTI contract rallied to a 2-week high of 46.36 before ending the day at 3.52%. The Brent crude initially soared to as high as 47.75 before settling at 47.6, up +4.57%. However, equities weakened as corporate news weighed on the consumer discretionary sector.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/surprising-decline-in-us-inventory-sent-crude-higher-equities-dropped-on-retail-concerns-2016051232883/