Oil, grains, most metals prices all higher

Crude oil prices were significantly higher Thursday as equities markets made substantial gains, the US dollar weakened, and a new report from the Commerce Department said that US factory orders went up in February

May contracts for West Texas Intermediate crude added $4.25 to $52.64 per barrel on the New York Mercantile Exchange, while Brent crude gained $3.94 to $52.39 per barrel on the ICE Futures Europe exchange in London.

In afternoon trade, Nymex May gasoline futures were up 10 cents to $1.47 per gallon while May heating oil added 9 cents to $1.44 per gallon.

Copper prices were higher Thursday, helped by gains in equities markets and a weaker US dollar, as well as on the news that factory orders were up in the US in February and that manufacturing rebounded a bit in China in March.

May copper added 4 cents to $1.89 per pound in New York, while three-month copper was up $115 to $4,175 per tonne on the London Metal Exchange.

Precious metals prices were mixed as July platinum added $22 to $1,165.80 per troy ounce and May silver gained 5 cents to $13.03 per troy ounce, but June gold dropped $18.80 to $908.90, all in New York trade.

In afternoon trade on the Chicago Board of Trade, May corn added 7 cents to $4.03 per bushel while May wheat was up 24 cents to $5.50 per bushel and May soybeans gained 25 cents to $9.77 per bushel.

Story link: Oil, grains, most metals prices all higher