Commodity updates Wednesday 13 April 2016

Money Maker IndiaCrude oil was quoted higher in early Asia on Wednesday as investors parsed U.S. industry estimates on stockpiles and noted a surge in exports from China. On the New York Mercantile Exchange, WTI crude for May delivery soared 3.69% to $41.85 a barrel. Brent crude was last quoted at $44.52 a barrel, down 0.38%. The American Petroleum Institute said that crude oil stock rose 6.223 million barrels last week while distillates stocks fell by 530,000 barrels and gasoline stock by 1.58 million barrels. The drop in gasoline stocks as the summer driving season approaches in the U.S. will be seen as bullish.
Gold prices eased in early Asia on Wednesday with trade data out of China showing a mixed picture after exports unexpectedly soared.On the Comex division of the New York Mercantile Exchange, gold for June delivery fell 0.28% to $1,254.50 a troy ounce. Silver futures for May delivery rose 1.06% to $16.145 a troy ounce while copper futures jumped 3.85% to $2.171 a pound.