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Energy

Oil prices dropped on Thursday as the impact of plentiful U.S. production offset a surprise decline in U.S. inventories, leaving international benchmark Brent retreating from a five-month high touched in the previous session. Brent crudefutures were at $71.42 a barrel at 0235 GMT, down 20 cents, or 0.3 percent, from their last close. Brent fell 0.1 percent on Wednesday, after earlier touching its highest since Nov. 8 at $72.27 a barrel. U.S. West Texas Intermediate (WTI) crude futures were at $63.69 per barrel, down 7 cents, or 0.1 percent, from their previous settlement. WTI closed the last session down 0.5 percent. U.S. crudeinventories... Read more...

Bullion

Gold prices fell on Thursday in Asia as recent economic data pointed to an improved economic growth outlook and put pressure on the safe-haven metal. Gold futuresfor June delivery, traded on the Comex division of the New York Mercantile Exchange, were down 0.2% to $1.273.75 per ounce by 12:40 AM ET (04:20 GMT). The metal has so far lost more than 1% this week, and is on track for a fourth straight weekly decline. Most markets are closed for Good Friday on April 19. Chinas economy expanded more than expected in the first quarter of 2019, official data showed on Wednesday, while industrial... Read more...