Oil prices tumbled 4 percent on Wednesday as U.S. gasoline futures plunged limit down, triggering a brief halt in trade on the New York Mercantile Exchange.

AP

Gasoline traded down 25 cents at midday in New York, a move that stopped trade on NYMEX crude, heating oil and gasoline futures.

Losses carried on as trading resumed with a new limit of 50 cents. Prices completed erased gains from Monday and Tuesday, when traders bid up gasoline on fears that flooding would hit Gulf refiners.

Further weakness came from U.S. inventory data from the Energy Information Administration, which showed the first build in gasoline inventories in twelve weeks.

http://www.cnbc.com/id/42981451


Gold, silver tumble as dollar strengthens

Gold and silver futures lost ground Wednesday, pressured by a rising dollar, as investors booked some profits after two days of gains for precious metals.

Gold for June delivery GCM11 -1.02%  declined $15.50, or 1%, to $1,501.70 an ounce on the Comex division of the New York Mercantile Exchange.

July silver SIN11 -7.46%  retreated $2.59, or 6.7%, to $35.90 an ounce.

“It is predominantly dollar strength — that and some profit-taking after a two-day bounce,” said Michael Hewson, an analyst with CMC Markets in London.
http://www.marketwatch.com/story/gold-silver-futures-rise-in-electr...