Crude Oil opened pit trade in positive territory and climbed higher in early floor trade before losing some steam when US equity markets opened.
After reaching a session high of 105.07 bbl, Crude Oil pulled-back before settling pit trade with a 1.3% gain at 104.22 bbl.
Nat Gas was the under performer on the day, diving deeper into the red as its floor session progressed. It was unable to recover its early losses, and settled down 3.5% at a new 10-yr low of 1.95 per MMBtu.
Action in precious metals was mostly driven by the USD. Although both Gold and Silver began pit trade in positive territory, the metals sold-off sharply into the Red as equity markets opened.
Both precious metals fell to their respective session lows; this was short-lived as and both erased losses over the next hour. Gold ended pit trade with a modest 0.1% gainer at $650.90 per ounce, and Silver finished its pit session + 0.9% at 31.67 oz.
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.