Prices on light, sweet crude for June delivery fell more than 5percent to settle at $98.21 per barrel on Wednesday.
Other commodities, like silver, slid by more than 7 percent.The NYMEX gold futures edged down by 1 percent to$1,501.4 per ounce.
Crude oil prices dove after the US Department of Energyreleased a report on energy reserves Wednesday showingfalling demand for an increasing crude stock.
Meanwhile, overall US consumer spending growth slowed in April.
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