Commodities slumped On Europe Uncertainty (USO, UNG, GLD, SLV, Cop, XCO

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Commodities slumped on Tuesday with crude oil continued to slid for the fifth straight session on increase fears in the wake of elections in Europe dented expectations for economic growth.Crude for June delivery plunged $2.36, or 2.40%, to $95.58 a barrel on the New York Mercantile Exchange, an acceleration following a drop of 55 cents the prior session.
A string of weekend elections in Europe — France, Germany and Greece — saw voters reject established leaders, with Socialist challenger François Hollande defeating incumbent French President Nicolas Sarkozy. And Greece is now locked in political turmoil after parliamentary elections left the country’s parties struggling to form a majority.
The ICE dollar index, meanwhile, jumped to 79.96, from 79.611 in late North American trade Monday.

Among other energy futures, June gasoline lost 1.16%, at $2.94 a gallon, while June heating oil traded for $2.94 a gallon, down 3cents, or 1.29%.June natural gas fell 1%, to $2.31 per million British thermal units.Gold for June delivery slumped $42, or 2.56%, to $1,597 an ounce on the Comex division of the New York Mercantile Exchange.Silver for July delivery plunged 3%, to $29.18 an ounce. Platinum for the same month’s delivery 1.74%   to $1,503 an ounce.
June palladium fell 3.50%, to $625an ounce. Copper for July delivery lost 3%, to $3.66 a pound.

United States Oil Fund LP (ETF)(NYSEARCA:USO) was down 0.61 (-1.65%) at $36.44, SPDR Gold Trust (ETF)(NYSEARCA:GLD) down 3.60 (-2.26%) to $155.49, iShares Silver Trust (ETF)(NYSEARCA:SLV) fell 0.67 (-2.29%) to  $28.54 and United States Natural Gas Fund, LP(NYSEARCA:UNG) lost 0.26 (-1.56%) to $16.46.
ConocoPhillips(NYSE:COP) shares are up 0.15% as the company plans to sell all its Nigerian assets, Reuters reports, including onshore and offshore oil and gas fields and a stake in its LNG Brass facility. The assets reportedly are expected to attract interest from Nigerian and Asian players and could be sold individually, and could help COP raise several billions of dollars.
EXCO Resources Inc(NYSE:XCO) added 1.62% to $7.20 after analyst at KeyBanc upgraded the stock to Buy from Hold at KeyBanc, citing potential transactions on the cusp of being consummated "which could provide significant catalysts for shares if executed to plan." The firm notes XCO is negotiating the sale of TGGT, its midstream asset, and is exploring a possible JV on its conventional gas assets with several interested parties.