Commodities and the Dollar

Natural gas futures began selling off further after the reported storage injection, as the June delivery contract dipped 6 cents to settle at $3.93 per million British thermal units. The firming greenback also weighed on oil prices again today, as crude for June delivery was slipped $2.86 to finish at $77.11 a barrel.

The weakened euro was also having an effect elsewhere in commodity markets, as the June gold contract surged $22.30 to settle at $1,197.30 an ounce.

The dollar was trading higher against a basket of currencies with the dollar index up by 0.8%.

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