Crude oil, metals prices see gains

Crude oil prices were higher Monday after reports of an attack on Nigerian oil facilities by militants there, resulting in damage to a pipeline believed to be owned by Royal Dutch Shell (LSE: RDSA, RDSB; NYSE: RDS.A, RDS.B) and on the news over the weekend that Iran now has 6,000 centrifuges working in its uranium enrichment program.

At just before the close of floor trade on the New York Mercantile Exchange, September contracts for West Texas Intermediate crude had added $1.39 to $124.65 per barrel while Brent crude was up 41 cents to $124.93 per barrel.

At the same time, Nymex August gasoline was up nearly 2 cents to $3.05 per gallon while September heating oil was up just over a cent to $3.54 per gallon and September natural gas gained almost 6 cents to $9.14 per 1,000 cubic feet.

Metals prices saw gains on the session.

After early declines, September copper had added 1 cent to $3.61 per pound in New York at last report, while three-month copper was up $39 to $7,995 per tonne in London.

On the other hand, lead inventories in London dropped by 525 tonnes to 90,725 tonnes, sending that metal $115 higher to $2,230 per tonne, while aluminium was up $47 to $3,017 per tonne, zinc added $80 to $1,925 per tonne and nickel gained $300 to $18,750 per tonne.

Among precious metals, the latest reports had December gold $3.60 higher to $940.50 per troy ounce while September silver was up 10 cents to $17.47 per troy ounce and October platinum gained $18 to $1,776.70 per troy ounce.

Grains prices were mixed.

September wheat on the Chicago Board of Trade dropped 13 cents to $7.97 per bushel on the possibility that demand for the grain as feed will decrease.

CBOT December corn was up 4 cents to $6.01 per bushel while November soybeans gained 9 cents to $13.96 per bushel.

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