Crude dropped for a second day on Wednesday

Crude dropped for a second day on Wednesday after a government report showed an unexpected increase in US gasoline stockpiles and crude supplies rose to a two-month high. Prices fell to as low as $ 77 a barrel. It is currently trading at $ 77.3/bbl.

Base metals saw deep cuts with Copper falling for the third straight day, the longest slump in six weeks. The metal fell more than 2% while other metals like Aluminum, Nickel and Zinc were down 3% to 4%.

Crude

Nymex Crude futures declined 2.6% to settle at .46/bbl, fell most in a month. Its December futures Put was most active yesterday and. Crude supplies rose to 2-month highs and US distillate stocks were up 29% above 5-year average.

Copper

Copper fell 2.5% to 50/tonne and saw maximum decline in 6 weeks.

Gold declined on fall in in crude and dollar rebound. The metal fell 0.5% to 30.25/ounce, after hitting a low of 26.

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