Platinum Market Update

Platinum for April delivery PLJ5, +0.26%  climbed $3.70, or 0.3%, to settle at $1,238.90 an ounce, while March palladium PAH5, +0.77%  rose $4.20, or 0.5%, to end at $790.20 an ounce.

Gas Market Update

Natural gas for March delivery NGH15, +0.11%  fell 9 cents, or 3.3%, to settle at $2.66 per million British thermal units, after a more than 7-cent gain the day before. The EIA will release its weekly data on natural-gas supplies on Thursday. 

Gasoline Market Update

Nymex gasoline for March RBH5, +0.76%  dropped 12 cents, or 7.5%, to end at $1.48 a gallon. March heating oil settled at $1.77 a gallon, down 8 cents, or 4.3%.

Oil drops nearly 9% to end below $50 a barrel

U.S. crude-oil futures marked their first decline in five sessions on Wednesday, plunging by almost 9% to settle below the $50 mark as the nation’s stockpiles climbed more than expected.

West Texas Intermediate crude for March delivery CLH5, -0.21%  slid $4.60, or 8.7%, to settle at $48.45 a barrel on the New York Mercantile Exchange. Oil was trading around $50.90 before the supply data were released.

Gold settles higher after China cuts reserve ratio

Gold and other metals prices settled higher on Wednesday, getting a boost from the Chinese central bank’s decision to cut the reserve-requirement ratio for banks in an aim to boost growth.

Gold for April delivery GCJ5, +0.59%  added $4.20, or 0.3%, to settle at $1,264.50 an ounce after falling by more than $16 on Tuesday.