$US DollarAs Tgarfield and others have indicated here, it's all about the dollar...and has been since last year if not before. Look at the Max chart on the link below. Dollar strength = Stock Market Weakness = Commodity Price Weakness and vice versa.
The dollar index peaked this morning at about 77.82 then plunged to 77.45 trumping the oil inventory reports. I guess the sell-offs in the commodities are buying opportunities, instead of the rallies being shorting opportunities, at least until the dollar bottoms. If the current trend continues, it will take at least another month or two before we see last year's lows on the dollar...
https://quotes.ino.com/chart/?s=NYBOT_DX&v=s