June Oil

(Marketwatch) June crude traded as high as $123.35 a barrel in New York and $123.56 in electronic trading Wednesday -- both fresh record levels for crude futures. A U.S. government report said crude supplies rose a third week, but refinery activity declined. June crude was last up $1.16 at $123+.

'If economic news is good, it means demand is going to rise and if it's bad, it means the Fed could cut interest rates again and send oil higher.'

— Peter Beutel, CameronHanover

For 'June' Gold; Futures closed at $871.20 an ounce, down $6.50 for the session. "The contract saw pressure from strength in the U.S. dollar after having climbed nearly $27 during a three-session winning streak."

Bond prices edged lower. The yield on the benchmark 10-year Treasury note (which moves opposite its price) rose to 3.93 percent from 3.92 percent late Tuesday.

-MPM
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