Oil prices edged lower in European trade on Thursday, after rallying more than 3% overnight after a larger-thanexpected
gasoline draw eased concerns about global supply glut.Crude oil for September delivery on the New York
Mercantile Exchange dipped 7 cents, or 0.14%, to trade at $40.78 a barrel by 07:52GMT, or 3:52AM ET.A day earlier,
New York-traded oil jumped $1.32, or 3.34%, after data showed that gasoline supplies in the U.S. fell sharply last week,
offsetting a surprise build in crude stockpiles.
Gold prices added to overnight losses in European trade on Thursday, as the U.S. dollar strengthened with investors
focused on the Bank of England's policy announcement later in the session.The BOE will release its rate decision,
minutes of its Monetary Policy Committee meeting and its quarterly inflation report at 11:00GMT, or 07:00AM ET,
on Thursday
Nickel futures tumbled by more than 2 per cent during noon trade in the domestic market on Thursday as investors
and speculators exited positions in the industrial metal amid weak physical demand for nickel from alloy-makers in the
spot market.Mixed US economic data signaled an uncertain demand outlook for metals as services activity cooled in
July but private employment growth was stronger.
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