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[BRIEFING.COM] A sharp pullback in the US Dollar Index over the last two hours has provided strength in select commodities. The weakness drove crude to new session highs and pushed precious metals back near the unchanged line. However, natural gas has been on a downtrend in recent trade.
August crude oil chopped around the unchanged line overnight before hitting session lows of $71.44 per barrel. From there, crude began trending higher and rallied in recent trade due to the dollar index's pullback. Crude is currently near session highs at $73.48 per barrel, up 2.1%.
August natural gas was trading along with crude this morning and hit session highs of $4.78 per MMBtu. However, natural gas reversed sharply just after 8:00am ET, falling into negative territory and to fresh mornings lows of $4.57 per MMBtu. Currently, natural gas is 2.0% lower at $4.59 per MMBtu.
precious metals have spent most of today's session in the red. Weakness in the dollar index provided price support, pushing both August gold and September silver back near the unchanged line. However, both precious metals remain in negative territory with gold down $1.00 at $1194.10 per ounce and silver down 0.2% at $17.82 per ounce.
