Crude Oil Prices Lower Following Storm Downgrade, Govt Shutdown

October 7, 2013

CHICAGO (Oct 7)  Commodities are mixed today. The dollar index has been in the red all session, but began to rally higher in recent action, which helped weigh on commodity prices.

Gold and silver prices spiked to new session highs earlier this morning. Both precious metals erased some of its gains and have been trading in a consolidated fashion. Dec gold is now, Dec silver is now

Natural gas prices rallied this morning, rising as high as $3.62/MMBtu. Its held its gains and is now +2.7% at $3.60/MMBtu.

Crude oil prices sold off late in the weekend after Tropical Storm Karen was downgraded. The storm catalysts in addition to the govt shutdown nicely weighed on crude oil prices. Nov crude oil is now -1.3% at $102.48/barrel.

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