February crude oil futures are just in the red, changing hands at $99.60 a barrel in electronic trading. In London, brent crude was off 34 cents at $107.69 a barrel on the ICE Futures Exchange.
United States Oil Fund ( USO ) is up 0.1% at 38.43 in pre-market trading.
Crude gained and settled at $99.65 a barrel in the prior session amid concern about Iran's recent threat to disrupt shipments through the vital water passag, the Strait of Hormuz.
Meanwhile, February gold futures are up $29 or 1.9% at $1,569.90 an ounce in electronic trading. SPDR Gold Trust ( GLD ) is up $2.06 or 1.4% at 152.40. The dollar index is little changed.
March silver futures are up 2.5%. iShares Silver Trust ( SLV ) is up 0.4% at 27.17.
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