COMMODITIES CRASH: Crude Futures Slip 2%, Near 52-Week Low After China Data


Crude futures are taking a beating in Monday's pre-market session, with crude for May delivery down 2.47% at $89, nearing its 52-week low of $81. Along with gold and copper futures, commodities are feeling the pressure from the latest round of disappointing data from China. China earlier reported that its quarterly domestic product rose 7.7%, while its industrial production grew 8.9% - both figures missed forecasts.

Among other crude/ energy products: London-traded May Brent crude is also lower, down 1.79% at $101.26 a barrel; May gasoline futures is down 0.46% at $2.79, near its 52-week low of $2.38; and May heating oil is down 0.91%.

July natural gas, however, is up 0.49% at $4.33, inching closer to its 52-week high of $4.37.

Among ETFs , United States Oil Fund ( USO ) is down 2.31%. United States Natural Gas Fund ( UNG ) is up 0.22%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: UNG , USO

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