Oil price dips to $52.54/bbl

Crude oil prices were volatile during the trading session on reports of surprise dip in weekly crude inventories, but fell sharply at close. While the Nymex U.S. light crude oil for July delivery dropped $1.22 to settle at $52.54 a barrel, the Brent crude lost $1.05 to $52.07 a barrel.

The commodity segment saw the Comex gold dip 10 cents to close at $426.60 an ounce.