Markets: Crude slips ahead of EIA data

Oil prices slipped on Wednesday ahead of the latest US weekly inventories data while base metals were mixed and gold consolidated around the $980 an ounce level.

In oil markets, Nymex July West Texas Intermediate slipped 53 cents to $68.02 a barrel while ICE July Brent lost 40 cents at $67.77 a barrel.

The US summer driving season has started and government inventory data, due for release later in the session, were expected to show a fall of 1.4m barrels in crude stocks and an increase of 400,000 barrels in petrol inventories, according to a poll of analysts by Reuters.

Nymex RBOB July unleaded gasoline traded fractionally weaker at $1.9176 a gallon.

Refinery utilisation was forecast to increase 0.5 percentage points to 85.6 per cent as refineries continued to step up activity to meet rising demand.

Read the full commodities report on FT.com

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