Crude Oil prices (January contract) dropped below $89 a barrel after an intraday high above $90. The EIA said supplies from countries outside the OPEC are seen rising by 1 million barrels a day in 2011.
Gold declined below $1405 an ounce after a new record high just above $1430 while Silver came back below $30 an ounce as a firm U.S. dollar sparked a profit taking move on precious metals.
Copper (March contract) rose above $4.04 a pound. A strike in a Chilean mine that lasted more than 30 days has ended.
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