Decline in US inventory and a weak US dollar explain why energy prices hold onto gains. The front-month WTI crude contract rose to a new 2016 high of 51.62 before settling at 51.23, up +1.73%, while the Brent contract closed at 52.51, soaring +2.08%. Risk appetite was lifted as the market widely expect no rate hike at the June FOMC meeting.
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