Oil drops below $52/barrel

Reports of rise in crude inventories pulled the global crude oil price below the $52/barrel mark. While the Nymex U.S. light crude oil for June delivery dropped $2.59 to close at $51.61 a barrel, the London Brent crude lost $1.84 to $52.30 a barrel.

The metal segment, particularly, the Comex gold witnessed a huge slump and dipped $4.90 to settle at $434.10 an ounce.