Natural-gas futures trade at lowest level in a month
By MarketWatch
NEW YORK (MarketWatch) -- Crude-oil futures reversed lower Monday, trading below $76 a barrel as a weak opening for equities and a slight rise in the dollar took the shine off several commodities
Crude oil for November delivery dipped 54 cents, or 0.7%, to $75.92 a barrel on the New York Mercantile Exchange.
Earlier in the session, oil hit an intraday high of $77.21 a barrel, briefly continuing Friday’s rise of nearly 2%.
A weaker dollar provided some support earlier Monday, but the U.S. currency later inched up against the euro and other rivals.
The dollar index (DXY 79.34, -0.06, -0.07%) , which tracks the U.S. unit against a basket of six major currencies, pared its losses Monday, falling less than 0.1% to 79.35.
Stocks opened lower despite a recent bout of mergers and acquisitions, as a debt downgrade for an Irish bank reignited fears about Europe’s banking system. See more about stocks here.
Energy products tracked crude on Monday, with natural gas tanking nearly 4%.
Natural gas for October delivery retreated 14 cents, or 3.6%, to $3.74 per million British thermal units. A close along these levels would be the lowest for natural gas since late August.
