Recent quiet trading in crude oil is not indicative of what to expect going forward. Gold is trending lower, but no panic is evident.

The government reported that for the week ending June 18, 2010, crude oil inventories rose 2 million barrels, gasoline inventories fell 0.8 million barrels, distillate inventories rose 0.3 million barrels, and total petroleum inventories rose 2.7 million barrels.

Seems market is waiting for Ben Bernanke, FED’s president testimony in about 10 minutes, and I read some rumors that he will talk Euro higher… we can’t trust all what we read! just let you know. Besides, we have Wholesales inventories, and oil inventories, expected -1.1 Million from -1.9M previous month.

Crude oil and gold prices may turn lower as US stock index futures decline, hinting at fading risk appetite ahead of the opening bell on Wall Street.

With oil trading above $86 a barrel and in an uptrend, the CAD has also been showing real strength.