Energies/Metals Update
Crude futures began the day well bid off USD weakness and peaked out at 126.64 before a rapid reversal in the afternoon pushed Crude down to 121.78. Market fundamentals are hard-pressed to explain the rapid sell off which may have been influenced by the ICE power outage. Crude is currently down 1.6% to 122.06, Unleaded is down 2.6% to 311.20, Heating Oil is down 1.2% to 356.42 and Natural Gas is down 3.7% to 11.185 .
Metals are higher across the board led by Platinum which is up 1.6%. Gold is up 1.2% to $876.40, Copper is up 1.6% to 373.60, and Silver is up 0.5% to 16.75