Commodity Market Update (Crude Oil)

Precious metals on CMX are trading in a range for the last couple of sessions ahead of the US Federal Reserve fund rates decision and FOMC Meeting minutes. Actively traded Gold contract is losing 4 points or 0.35% to trade at 1287.90 after having tested a low of 1285.60 whereas Silver tested a low of 17.945 before settling at 18.01, down 0.41% or 7 cents an ounce. Copper rose after the biggest drop in almost two weeks as investors await commentary from the Federal Reserve policy meeting. Nickel is leading the group, gaining around 2% or 290 points to trade at 15055.00 and Copper tested a high of 5510.00 before settling at 5492.00, up 58 points or 1%, followed by rest of the metals which are up around a percent each. WTI Crude Oil is trading down since morning as API forecasted that Oil stockpiles could build by 11.2 Mbd, more than the previous data. Oil is plunging around 2% or 85 cents to trade at 45.38 and Natural Gas is trading at 2.899, dropped 2.75% or 8 cents per mmbtu.