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Nat Gas in Negative Territory Following Data
06-Oct-11 10:35 ET
Dow +41.40
at 10981.35,
Nasdaq +18.74
at 2479.25,
S&P +5.90
at 1149.94
[BRIEFING.COM] Weakness in the dollar index, which recently fell below the 79.00 level, has provided price support to the commodity complex this morning.
Natural gas futures have been in positive territory for over the past hour now, following a rally from $3.54 to its currently session high of $3.58/MMBtu, hit just minutes ahead of today's inventory data. Following the data, which showed a build of 97 bcf versus consensus of a build of 100 bcf, natural gas are now trading in the red; currently at $3.56, down 0.2%.
Crude oil has been trading between approx. $79-81.15 over the last six hours. About 15 minutes before pit trading began, crude sold off, losing about $1.73/barrel and hitting a new session low of $79.15/barrel about 25 minutes later. The energy component has moved back into positive territory and is currently up 1.3% at $80.69/barrel.
Silver has been in positive territory all session. The precious metal put in its session high of $31.77/oz. in early morning activity and is currently heading back in that direction after its recent $0.80 move higher. Gold futures have been rather choppy and put in a new session low of $1633.20/oz. about 30 minutes ago. It's since moved back into positive territory and is now up 0.5% at $1649.60/oz. Silver is 4% higher at $31.54/oz.
Natural gas futures have been in positive territory for over the past hour now, following a rally from $3.54 to its currently session high of $3.58/MMBtu, hit just minutes ahead of today's inventory data. Following the data, which showed a build of 97 bcf versus consensus of a build of 100 bcf, natural gas are now trading in the red; currently at $3.56, down 0.2%.
Crude oil has been trading between approx. $79-81.15 over the last six hours. About 15 minutes before pit trading began, crude sold off, losing about $1.73/barrel and hitting a new session low of $79.15/barrel about 25 minutes later. The energy component has moved back into positive territory and is currently up 1.3% at $80.69/barrel.
Silver has been in positive territory all session. The precious metal put in its session high of $31.77/oz. in early morning activity and is currently heading back in that direction after its recent $0.80 move higher. Gold futures have been rather choppy and put in a new session low of $1633.20/oz. about 30 minutes ago. It's since moved back into positive territory and is now up 0.5% at $1649.60/oz. Silver is 4% higher at $31.54/oz.
