Commodities
Oil and gas jump, metals fade
Energy prices rise while precious metals lose ground and industrial metals hold up better.
WTI crude rises 3.4% to $95.27, while Brent falls 2.0% to $100.98. Nat gas jumps 6.6% to $3.222.
The headline backdrop points to a tighter energy market. OilPrice reports on plunging inventories, Hormuz-related shipping disruptions, and higher fuel prices in Europe and elsewhere.
Precious metals are softer. Gold falls 0.6% to $4,292.5 and silver drops 0.9% to $63.775. GLD loses 0.8%.
Industrial metals are steadier. Copper rises 1.1% to $6.751, and the move keeps it near the top of the year-long range with its RSI14 at 56.7.