[BRIEFING.COM] The CRB Commodity Index is down 0.7% this session. It is also on its way toward a 0.7% weekly loss.
Lower oil prices account for most of the CRB's weakness. The commodity is currently down 1.6% to $73.40 per barrel as it surrenders part of its gain from the prior session, when it climbed more than 2%.
Natural gas prices spiked almost 6% in the prior session and have added another 1.5% to that move in this session's pit trade. The commodity is currently at $4.76 per MMBtu.
Precious metals continue to trade with weakness, despite renewed concerns about contagion in Europe and questions about the health of the U.S. economy amid a softer-than-expected increase in monthly nonfarm payrolls. Gold was last quoted with a 0.4% loss at $1203.70 per ounce, while silver is down a sharp 2.0% to $17.58 per ounce.
