In a sharp turn, oil prices tumbled nearly 5% as the demand outlook dimmed, exacerbated by a substantial surge in U.S. crude stockpiles revealed in the API weekly data. This surge implied a significant cool-off in oil demand. Eyes are now fixed on China’s upcoming economic data, specifically CPI and PPI figures, set to be unveiled on Thursday, promising further fluctuations in oil prices. Contrastingly, gold prices found stability above the $1960 mark, with investors closely monitoring the unfolding tensions in the Middle East. Meanwhile, the dollar index continued its ascent, fueled by the Hawkish tone of Federal ... (full story)