Another Downer for Commodities
Much of the energy complex traded weaker Monday on the heels of lower than anticipated jobs data for the United States during March. Approximately 120,000 jobs were added in March, according to the U.S. Department of Labor. Additionally, signs from Iran that they may be softening up to negotiation on their nuclear intentions provided another source of pressure on prices.
Brent and WTI traded one percent lower on the day. On the NYMEX, May contracts for light, sweet crude fell 85 cents to $102.46 per barrel. May futures for Brent slipped 76 cents to $122.67 per barrel.
Gasoline prices also fell for May reformulated gasoline blendstock Monday. Prices dipped 4 cents to finish at $3.30 per gallon.
Natural gas actually bucked the trend. May futures gained 2 cents to settle at $2.11 per MMBtu, after reaching a new 10-year low overnight.
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