Oil drops to $53.81

Global oil prices recovered further following the release of the weekly oil inventory report. While the Nymex U.S. light crude oil for May delivery dipped $2.22 to $53.81 a barrel, the London Brent crude lost $1.21 to close at $53.90.

The metal category saw the Comex gold fell $6.20 to settle at $425.40 an ounce.