BR: Crude Falls To Fresh Lows Following Inventory Data
[BRIEFING.COM] January crude oil moved into negative territory overnight and remains there in current activity. Ahead on inventory data, crude was 1% lower at $77.67 per barrel. Following inventory data, which showed a build of 2091K vs. consensus of a draw of 400K, crude fell to fresh lows of $77.15 and is now 88 cents lower at $77.48.
January natural gas also traded in negative territory overnight. Around an hour before pit trading began, crude briefly spiked into positive territory, but quickly reversed and fell to new session lows, hit minutes ago at $4.651. In current activity, natural gas is trading 1.5% lower at $4.692 per MMBtu.
Precious metals are modestly higher, while the US Dollar Index is near the unchanged line. Feb gold is trading 1.2% higher at $1214.8 per ounce, while Feb silver is 1% higher at $19.41 per ounce.
