[BRIEFING.COM] The US Dollar Index has moved back near session lows, currently near 81.00, which has provided some upside to most commodities.
May crude oil moved into positive territory overnight and pushed to morning highs of $83.76 per barrel around the open of pit trading. Ahead of today's inventory data, crude was trading 1.2% at $83.37 per barrel. Following the data, which showed a build of 2.929 million vs. consensus of a build of 2.5 million, crude ticked lower and is currently 1% lower at $83.16.
May natural gas traded in positive territory overnight. However, at the open of pit trading, the energy component fell sharply into negative territory and to new session lows of $3.94 per MMBtu. Currently, natural gas is trading just above those lows at $3.94 per MMBtu, down 0.1%.
Weakness in the dollar index continues to provide price support to the precious metals group, which is trading near session highs. April gold and May silver hit its morning highs of $1118.70 per ounce and $17.63 per ounce, respectively, in recent trade and are sitting just under those highs. Gold is 1% higher currently at $1117.20 per ounce and silver is 1.5% higher at $17.59 per ounce.
