Market Update

Natural gas prices experienced a brief spike higher in the minutes that immediately followed the latest weekly inventory report, which showed a draw of 192 bcf when a draw of 180 bcf had been widely expected, but prices have since turned lower to trade with a 1.8% loss at $2.72 per MMBtu.

Oil continues to display strength, however. The energy component was last quoted at $100.60 per barrel, which makes for a 1.2% gain.

Precious metals are also in positive territory, but silver has eased back from its morning high. Silver was last quoted at $33.35 per ounce, which makes for a 0.7% gain, but it was up almost as high as $33.80 per ounce earlier this morning. Meanwhile, gold continues to trade with a strong gain of about 1.4% at $1724 per ounce.

Market Update