U.S. crude futures prices dropped to around $94 a barrel on Thursday after data showing U.S. gasoline supplies rose and on concerns that the U.S. Federal Reserve may curtail its bond-buying stimulus.
Crude dropped on Wednesday, after data showing a surprise jump in U.S. gasoline stockpiles sparked worries that summer demand could be weaker than expected.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets. Traders remain focused firmly on tomorrow's testimony from Fed Chairman Ben Bernanke. And expectations for this week's oil inventories.
CNBC's Sharon Epperson takes a look factors that contributed to the major reversal in precious metals on Monday and what sent oil prices to a 7-week high. She also discusses events in the the coming days that could impact the price action in energy and metals.
Natural gas is the top performing commodity after President Obama approved a $10 billion natural gas export facility last week. Andrew Lipow, Lipow Oil Associates, shares his outlook for the commodity.
The energy boom in the U.S. is providing a shock absorber of sorts for major oil companies, helping to hedge a strong dollar amid an the increase in domestic production.
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.