Brent Crude Prices rise on sharp decline in US inventory - ZENMoney

Brent Crude Prices rose on a sharp decline in US weekly inventory data which showed that stockpiles fell by more than 10 million barrels along. The worries sparked by the unrest in Egypt along with a rally in US markets and a weaker dollar supported the rise in Brent crude prices. The Crude prices were capped by weak Chinese economic data.

In Base metals, Copper prices rose due to bottlenecks in supply along with increased purchases by Chinese importers in June and upbeat US labour market data. A reading on private-sector hiring in June came in better than expected, and the Labor Department's gauge of weekly jobless claims showed a decline. A weaker dollar supported the rise in the metal.

Source : Equity Bulls

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