West Texas lost 8.941% in the last five days. The price of WTI is trading at $48.22 per barel after Wednesday's report of larger than forecasted U.S. crude inventories. The Energy Information Administration reported a weekly buildup of 8.2 million barrels when only 1.1 million was expected. The ninth consecutive weekly increase is casting doubt on how effective the Organization of the Petroleum Exporting Countries (OPEC) production cut deal can have if other producers ramp up their activity.

The OPEC deal has had little real impact on global inventories, but it manage to keep prices around $50 per barrel. The lack of demand for energy around the world and increased production from nations outside of the agreement have put downward pressure on crude prices. OPEC members could be questioning if sticking to the agreement if beneficial for them in the long term which could further drive prices down as the deal has been the main driver of price stability in the past two years.

Gold lost 2.65% in the last trading week. The price of the yellow metal is trading at $1,202.63 after the U.S. added 235,000 jobs in February and if Fed members comments are accurate a March rate hike is in the cards. Gold has been on the back foot since Fed speakers turned up their rate hike signalling ahead of the March FOMC. The CME FedWatch tool shows a 93 percent probability of a rate hike being announced on March 15.