The US Energy Information Administration (EIA) showed today that the US crude inventories rose by 1.6 million barrels to reach a total of 455.4 million barrels during past week, lower than forecasts of 2.5 million.

The gasoline inventories fell 1.6 million barrels to a total of 239.3 million, and distillate stockpiles declined by 700 thousand barrels to a total of 124.4 million.

While the American Petroleum Institute (API) showed yesterday in preliminary data that inventories fell by 1.25 million barrels during the same period.

Palladium futures rose on Wednesday, following South Africa's decision to halt several public activities due to the coronavirus outbreak.

The South African government announced a lockdown on citizens movements, business and corporate activities in all industries for three weeks, to prevent the coronavirus from spreading.

This ought to suspend palladium production in the world's largest produces, and eventually lead to a drop in global supply.

Analysts estimated that the decision would cause cut 2% on the global palladium supply.

The dollar index fell against a basket of currencies by 0.6% to trade at 101.4 points as of 13:33 GMT, after hitting a high of 101.9 and a low of 101.1.

Palladium June futures jumped 8% to trade at $1,928 an ounce as of 13:44 GMT, after hitting today's high at $1,941.9 and a low of $1,811.9.

US stocks fell on Wednesday, as the market absorbed yesterday's record gains.

This came amid global markets anticipation for the Congress vote on the $2 trillion economic stimulus bill, which is aimed at providing support for US companies and families to ease the coronavirus impact.

Wall Street drew support from signs on a deal between the White House and US Senators on the package.

Data showed today that the US durable goods orders rose 1.2% during February.

The US stocks yesterday scored large gains, as Dow Jones jumped more than 11% to post it largest daily gains since the 1933 Great Depression.

As for stocks, Dow Jones slipped 0.4% or 78 points to 20,627 as of 14:11 GMT, Nasdaq fell 1.6% or 123 points to 7,295, and S&P 500 dipped 1.2% or 29 points to 2,416.

The US dollar fell against against a basket of its peers on Wednesday, to head for the second straight daily loss, as investors stopped hoarding cash following a strong recovery in global stock markets, which comes ahead of the US congress vote on huge stimulus measures that are aimed at easing the impact of the coronavirus pandemic.

The dollar index fell 0.4% to 101.16 points, after opening at 101.60 points, and hit today's high at 101.91.

The index fell 0.7% yesterday, its second daily loss in 3 days on profit-taking from a 3-year high of 102.99 points.

Investors stopped hoarding the US dollar, after the US Federal Reserve announced on Monday an open quantitative easing program, which is aimed at easing the impact of the coronavirus pandemic.

This also came in tandem with improved market sentiment, thanks to the huge US stimulus measures, as investors stopped hoarding cash to counter the liquidity shortages, as the US stocks scored the largest daily gains since 1933 yesterday.

US Senators and the Trump administration agreed yesterday on the $2 trillion economic stimulus bill, and it is expected that the Congress will pass it later today.