Commodity markets moved lower following better-than-expected non-farm payrolls data as the dollar spiked. Eric Zuccarelli, independent metals trader, tells TheStreet’s Jill Malandrino this move follows the same pattern as the last NFP reading as expectations for an interest rate hike are sooner rather than later. In addition the U.S. dollar continues to make new highs as the euro hits new lows. Turning to crude Zuccarelli feels is it difficult to place a bet a on storage capacity for oil as levels are at 80-85%, which is about 3-4 months worth of time and a lot can happen between now and then. That said, should we start to see bidding for storage, crude could see the $20s.
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