Crude prices remain above $99 per barrel in New York

Crude oil prices were higher again on Monday on continuing geopolitical concerns surrounding the Turkey/Iraq conflict and international sanctions on Iran and after cold weather was forecast in parts of the United States.

West Texas Intermediate crude for April delivery was up 54 cents to $99.35 per barrel just before the close in New York, while April contracts for Brent crude were 52 cents higher to $97.53 per barrel on the ICE Futures Europe exchange in London.

Nymex March gasoline was up a cent to $2.54 per gallon while April heating oil added 2 cents to $2.76 per gallon and April natural gas gained 3 cents to $9.22 per million British thermal units.

The price of gold was lower on an announcement that the US will support a limited sale of gold bullion by the International Monetary Fund in order to cover revenue shortfalls.

April gold had fell $7.30 to $940.50 per troy ounce just before the close of floor trade in New York, while April platinum dropped $14.30 to $2,153.50 per troy ounce.

March silver added 5 cents to $18.09 per troy ounce.

May copper was down 5 cents to $3.76 per pound in New York and three-month copper was $60 lower to $8,270 per tonne or $3.75 per pound in London on sharply higher inventories.

May wheat on the Chicago Board of Trade gained its exchange-imposed limit of 60 cents to $11.24 per bushel after Kazakhstan said it would institute customs duties to slow exports.

CBOT May soybeans hit a record $14.85 per bushel before retreating slightly to $14.69 per bushel, still a gain of 31 cents on the day, while May corn added 12 cents to $5.46 per bushel in Chicago.

Story link: Crude prices remain above $99 per barrel in New York