BR: Crude Sees Mixed Reaction Following Inventory Data
Dow -0.98 at 12069.83, Nasdaq -11.99 at 2689.57, S&P -1.31 at 1283.63
[BRIEFING.COM] Crude surged following OPEC's meeting, which concluded with no deal to boost oil supply, and rose over $2/barrel to new session highs of $101.30/barrel. Then ahead of inventory data, crude oil was trading around $100.70/barrel. Following the data, which showed a draw of 4.84 million barrels versus consensus which called for a draw of 1.4 mln barrels, crude sees a mixed reaction after initially popping higher. Crude is currently up 1.6% at $100.65/barrel.
Natural gas has been in the red all session and is currently down 0.3% at $4.81. However, natural gas is 15.6% higher from where it was on May 19.
Strength in the dollar index, which is up 0.3% at 73.77, is helping keep precious metals in negative territory this morning. Gold moved back up to the unchanged line just under an hour ago, but is now 0.% lower at $1538.40/oz. Silver is down 1.% at $/oz.