Metals prices mixed; WTI gains in New York

West Texas Intermediate crude for July delivery was $1.09 higher on Monday, to $69.09 per barrel on the New York Mercantile Exchange. Meanwhile, July contracts for gasoline were almost half a cent higher to $2.2643 per gallon, while Nymex July heating oil added 2.36 cents to $2.0342 per gallon. Natural gas, on the other hand was 33.8 cents lower to $7.69 per 1,000 cubic feet.

Despite the gains in crude oil and gasoline futures, at-the-pump prices in the United States were lower according to a survey by AAA. Pump prices were down 0.3 cent to $3.005 per gallon, taking the average price 22.2 cents below its peak in late May.

Crude prices jumped after unions in Nigeria called for a strike by oil workers. The strike, scheduled for Wednesday, will protest a price increase in gasoline imposed by the Nigerian government. In addition, two more oil facilities in Nigeria were attacked by local residents, cutting more output.

Precious metals prices were mixed in early afternoon trade in New York. August gold was up $1.20 to trade at $659.90 per troy ounce, while July platinum gained $13.50 to $1,299.50 per troy ounce. On the other hand, July silver was 3 cents lower to $13.24 per troy ounce. Meanwhile, among base metals, September copper held steady at $3.42 per pound.

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