Oil eases, gold lower

<p><a href="https://api.addthis.com/oexchange/0.8/forward/facebook/offer?url=https%3A%2F%2Fwww.marketpulse.com%2F20220427%2Foil-eases-gold-lower%2F&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/facebook.png" border="0" alt="Facebook" /></a><a href="https://api.addthis.com/oexchange/0.8/forward/twitter/offer?url=https%3A%2F%2Fwww.marketpulse.com%2F20220427%2Foil-eases-gold-lower%2F&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/twitter.png" border="0" alt="Twitter" /></a><a href="https://api.addthis.com/oexchange/0.8/forward/email/offer?url=https%3A%2F%2Fwww.marketpulse.com%2F20220427%2Foil-eases-gold-lower%2F&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/email.png" border="0" alt="Email" /></a></p><p><strong>Oil</strong></p>
<p>It was a busy day for energy traders after Germany signaled they were ready to support a gradual ban on Russian oil, the EIA crude oil inventory report posted a small crude build, and King Dollar continues to weigh on commodity prices. ​ Too much to digest, but the key takeaway is that oil prices will likely remain above the USD 100 level as long the dollar doesn’t have another massive rally. ​</p>
<p>The big news of the day is that Germany will support a gradual ban on Russian oil, but that won’t happen immediately so crude prices were unable to turn positive. ​</p>
<p><strong>Gold</strong></p>
<p>Gold got a double dose of bad news as US stocks staged a comeback, dampening demand for safe-havens and as King Dollar continued to rally, rising above the pandemic peak. ​ Gold is very vulnerable to another slide if risk appetite gets another boost on optimism that China could be ready to relax some of its lockdowns. ​</p>