Commodities Off Session Low On consumer Data (USO, UNG, GLD, SLV, PEIX, OILT, QTWW)

Commodities came off session lows after consumer sentiment was upbeat, while U.S. data on producer prices failed to provide support for oil. The Labor Department said producer prices fell a seasonally adjusted 0.2% in April to mark the biggest decline since October.But data on consumer sentiment was upbeat. A preliminary reading of the University of Michigan-Thomson Reuters consumer sentiment index climbed more than expected, to 77.8 in May, up from 76.4 in April.
Crude for June delivery was down marginally $97.02 a barrel in the New York Mercantile Exchange. For the week, it’s down over 2%.

Natural gas for June delivery was down 0.50% $2.45 per million British thermal units.
June heating oil lost 0.20%, to $2.96 per gallon and June gasoline was lower 0.40% at $2.98 a gallon, down 2 cents, or 0.7%.However, Gold for June delivery was down 0.70% to $1,85 an ounce on the Comex division of the New York Mercantile Exchange, but off the session’s low of $1,572. Prices for the metal finished Thursday up $1.30 to $1,595.50 an ounce but were still set for a weekly loss of more than 3%.
silver for July delivery slumped 1% to $28.89 an ounce, after hitting a low of $28.42. July copper lost over 1% to $3.65 a pound.Platinum for July delivery fell 1.30% to $1,474 an ounce. Palladium for June fell 1.55% to $606 an ounce.

United States Oil Fund LP (ETF)(NYSEARCA:USO) was up marginally at $36.64, SPDR Gold Trust (ETF)(NYSEARCA:GLD) lost 0.84 (-0.54%) to $153.92, iShares Silver Trust (ETF)(NYSEARCA:SLV) fell 0.15 (-0.53%) to $28.10 and United States Natural Gas Fund, LP(NYSEARCA:UNG) was up 0.08 (0.45%) to $17.79.
Pacific Ethanol Inc(NASDAQ:PEIX) slumped over 12% after the company announces a wider loss in Q1, as a boost in revenues was diminished by reduced margins. Net losses were $0.06/share vs. consensus breakeven of two analyst estimates; revenues rose 14% Y/Y to $198M vs. $252M consensus. PEIX's application for E15 registration was recently approved by the EPA; E15 is a mix of 85% gasoline, 15% ethanol.
Oiltanking Partners LP(NYSE:OILT) gained 3.73% to $30.89 as its subsidiary Bulk Handling USA acquires a 100% interest in United Bulk Terminal, which OILT calls the largest dry bulk export terminal on the Gulf Coast and is considered a "critical logistic link in coal and petroleum coke international supply chains." Financial terms were not disclosed.
Quantum Fuel Systems Technologies(NASDAQ:QTWW) slumped 28% after President/CEO Alan Niedzwiecki and Chairman Dale Rasmussen step down abruptly and without explanation. Quantum, which makes hybrid propulsion and energy-storage technologies, says its CFO will take over the CEO role, and its controller will step into the CFO role.