CNBC's Bertha Coombs discusses the day's activity in the commodities markets. After the dollar slipped, oil and gasoline futures climbed a bit. Nat gas was down on a bigger-than-expected build. A mixed picture in the metals markets, as well.» Read More
August Brent crude futures, while down nearly 1 percent from Monday’s close, remain solidly above $115 a barrel and mirror the relative strength of the OPEC basket price.
Crude raced higher Tuesday as energy bulls pushed Nymex oil back toward the $100-a-barrel mark, prices last seen before world governments said they would release crude from their reserves last month.
The current IEA intervention is a body blow to the price uptrend, which has been in place since June 2010. It drives prices back towards $87/barrel.
CNBC's Mary Thompson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.