Commodities prices see declines on session

Crude oil prices fell Friday more than they gained on Thursday as investors took profits, as the US dollar strengthened, as an oil pipeline re-opened in Turkey, and as it was expected that OPEC member-nation oil production will rise in August.

In addition, gasoline demand for the Labor Day weekend in the United States next week is expected to be down as fewer people travel for the holiday.

West Texas Intermediate crude for October delivery was down $6.58 to $114.60 per barrel at the close of floor trade on the New York Mercantile Exchange, while October contracts for Brent crude dropped $6.37 to $113.79 per barrel on the ICE Futures Europe exchange in London.

Nymex September gasoline futures were down 18 cents to $2.86 per gallon while October heating oil was 11 cents lower to $3.22 per gallon.

Metals prices were lower Friday as the US dollar strengthened and as crude oil prices also fell.

December copper was down 8 cents to $3.46 per pound in New York while three-month copper dropped $205 to $7,660 per tonne in London.

Among other base metals. lead was down $20 to $1,885 per tonne, zinc fell $50 to $1,830 per tonne, aluminium was $68 lower to $2,780 per tonne, and nickel dropped about $700 to trade in a range around $20,800/$20,900 per tonne.

Precious metals prices were also lower as December gold fell $6 to $822 per troy ounce while December silver dropped 28 cents to $13.56 per troy ounce.

Grains prices fell on the Chicago Board of Trade, with December corn down 11 cents to $6.06 per bushel, as November soybeans fell 21 cents to $13.27 per bushel and September wheat dropped 31 cents to $8.65 per bushel.

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