FX & CFD trading involves significant risk
Crude oil futures have spent most of its morning session in positive territory and in recent trade the energy component hit new session highs of $86.33/barrel. Ahead of inventory data, crude had pulled back to the unchanged line near $85.44. Following the data, which showed a draw of 2.2 mln barrels vs. consensus which called for a build of 1.4 mln barrels, crude put in a small rally and is now up 0.3% at $85.68/barrel.
Natural gas futures sold off after floor trading began and quickly fell into negative territory. Nat gas fell as low as $3.94/MMBtu and is currently down 1.0% at $3.95/MMBtu.
Precious metals fell off a cliff earlier this morning. The sell-off began about two hours ago, which pulled gold futures down from around $1852.00/oz to the current session lows of $1767.60/oz. Silver futures lost over $2/oz. after falling below the $40.00/oz. level. Currently, gold is down 4.3% at $1782.50, while silver is 4.1% lower at $40.55/oz.
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