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International crude oil prices edged down on Wednesday, as market sentiment improved over the outlook for shipping traffic through the Strait of Hormuz.
On the New York Mercantile Exchange, West Texas Intermediate crude for October delivery dipped 0.16 percent to settle at 82.23 U.S. dollars a barrel. Brent crude for October delivery fell 0.84 percent to close at 87.84 dollars a barrel on the London ICE Futures Exchange.
Oil prices dip on improved shipping outlook in Strait of Hormuz
International gold and silver prices declined on Wednesday, as stronger-than-expected U.S. inflation data reinforced expectations of a Federal Reserve rate hike next month, boosting the dollar and pressuring precious metals.
On the New York Mercantile Exchange, gold futures for December delivery fell 0.88 percent to settle at 4,653.30 U.S. dollars per ounce, while silver futures for September delivery dropped 0.96 percent to close at 68.026 dollars per ounce.
The declines came after the U.S. personal consumption expenditures (PCE) price index for July, released on Wednesday, pointed to persistent inflationary pressures, prompting traders to increase their bets on a rate increase at the Fed's September meeting.
Gold, silver prices fall on US inflation data, rate hike bets
Gold, silver prices fall on US inflation data, rate hike bets
