Brent crude drops by 3% to hit a seven-week low of $83.29 per barrel in previous sessions due to rising US stockpiles, while WTI crude falls below $79. Both ended their winning streak in April with declines. EIA reports unexpected increase in US crude stockpiles and production in February.
LME base metals faced challenges amid persistent deflation pressures in China and a regional increase in inventories ahead of China s Lunar New Year holiday.