Daily Energy & Bullion Insight 4-Jun-2009

Research report by 'Ventura Securities Ltd'
     
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Crude oil price retreated -3.5% to settle at 66.12 Wednesday (intra-day low: 64.95) as an unexpected increase in crude inventory raised concerns about economic recovery.

Crude inventory gained +2.87 mmb for the week ended May 29 as the US Energy Department reported yesterday.

Bunch of job and manufacturing data to be released in the US will likely trigger huge volatility in world markets.

Crude oil rose today as Goldman Sachs Group Inc. said prices may reach $85 this year and the dollar dropped, increasing the allure of commodities as a currency hedge.

   
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