Commodities and Oil Down Today (USO, IEZ, GDX, UUP)

Commodities including Oil are down today in response to a slightly higher US Dollar. The Unites States Oil ETF (NYSE: USO) and Ishares Oil Service Sector (NYSE: IEZ) are down 4.2% and 2% respectively. Oil itself is trading down 4% at $68.90/barrel.

Gold is also slightly lower at $1,009/ounce. The Gold Miners ETF (NYSE: GDX) is also down 1.7% and trading at $45.60/share.

With the dollar, as measured by the ProShares Dollar Index ETF (NYSE: UUP) up only 0.40% today, and oil reacting strongly (down by 4%), this shows continued underlying weakness in the commodity.