[BRIEFING.COM] Weakness in the dollar index is providing price support to most commodities this morning, with energy and silver showing gains of 2% or more.
May crude oil traded modestly higher overnight before breaking out around the open of pit trading. Near the open, crude rallied ~$1.70 per barrel in less than an hour, to fresh morning highs of $82.25 per barrel. In current trade, crude remains near those highs at $82.02 per barrel, up 2.5%.
May natural gas fell back into negative territory and near overnight lows around 8:30am ET. However, this was short-lived as natural gas quickly reversed and rallied to new session highs of $4.02 per MMBtu. Currently, the energy component is at $4.01 per MMBtu, up 2.0%.
April gold has traded in positive territory for the majority of today's session. Gold hit highs of $1114.10 per ounce, and is up a modest 0.4% at $1108.70 per ounce. Silver is showing notable strength this morning and has been in the black all session so far. It hit highs of $17.32 per ounce in recent trade after steadily trending higher in the session. Currently, silver is near current highs, up 2.2% at $17.28 per ounce.
