Crude, precious metals, grains all see gains

Crude oil prices were up in New York trade again on Friday after a weaker US dollar made oil, which trades in dollars, less expensive buyers using other currencies.

April contracts for West Texas Intermediate crude added $1.91 to $45.52 per barrel on the New York Mercantile Exchange on the session, but at last report Brent crude for April delivery was 13 cents lower to $43.51 per barrel on the ICE Futures Europe exchange in London.

Nymex April gasoline futures added 2 cents to $1.33 per gallon and April heating oil was up 7 cents to $1.23 per gallon, but April natural gas dropped 15 cents to $3.93 per million British thermal units in New York.

Precious metals prices were up as April gold added $14.90 to $942.70 per troy ounce in New York while May silver was up 21 cents to $13.33 per troy ounce and April platinum gained $14.10 to $1,077.80 per troy ounce.

The price of gold was helped by its reputation as a safe haven for investments in troubled economic times.

May copper added 4 cents to $1.69 per pound in New York in afternoon trade, while three-month copper was up $40 to $3,725 per tonne in London after inventories in London Metal Exchange warehouses declined again.

Grains prices saw gains on the Chicago Board of Trade.

CBOT March corn added 3 cents to $3.52 per bushel while March wheat was up 12 cents to $5.16 per bushel and March soybeans gained 16 cents to $8.79 per bushel.

Story link: Crude, precious metals, grains all see gains