Crude prices in new record as metals decline

Crude oil prices were higher again Monday, hitting a new record at $108.17 per barrel for West Texas Intermediate April contracts before falling back to $107.85 per barrel at the close of floor trade on the New York Mercantile Exchange, a gain of $2.70 on the session and slight decline from its peak earlier.

Brent crude added $1.79 to $014.17 per barrel on the ICE Futures Europe exchange in London.

The price of crude oil sent at-the-pump gasoline prices up another 0.7 cent overnight in the United States to an average of $3.22 per gallon nationally.

Nymex April gasoline futures added 1 cent to $2.70 per gallon on the session while April heating oil was up 3 cents to $2.98 per gallon and April natural gas gained 27 cents to $10.04 per million British thermal units.

Among precious metals, April gold was down $2.20 to $972 per troy ounce Monday afternoon while April platinum was down nearly $100 in morning trade but ended just $2.60 lower to $2,039.10 per troy ounce.

May silver was also lower, falling 47 cents to $19.78 per troy ounce.

Among base metals, May copper fell 13 cents to $3.80 per pound.

Grains prices were mixed as May soybeans on the Chicago Board of Trade dropped 2.25 cents to $14.06 per bushel but CBOT May corn added 18.5 cents to $5.65 per bushel and May wheat jumped 58 cents to $11.63 per bushel.

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