Commodities ended trading higher as crude oil futures logged gains on concern over developments in the Middle East. Gold also finished higher as safe-haven buying moved the metal.
Light, sweet crude oil for March delivery finished up $1.37, or 1.6%, at $86.36 a barrel. In other energy futures, heating oil was down 1.08% to $2.74 a gallon while natural gas was down 1.17% to $3.87 per million British thermal units.
Meanwhile, gold futures advanced throughout the day to finish at a five-week high.
Gold for April delivery finished up $10 to $1,385.10 an ounce. In other metal futures, silver was up 2.89% to $31.51 a troy ounce while copper traded up 0.38% to $4.49.
Thursday, February 17, 2011
Gold, silver and oil are on the rise
Commodities Corner : Feb. 17 2011 | Gold, silver and oil are on the rise. John Kilduff of Again Capital and CNBC's Sharon Epperson have the details.
World Gold Council 2011 outlook for Gold
Feb. 17 2011 | Gold demand hitting a 10-year high in 2010, with George Milling-Stanley, World Gold Council, and CNBC's Bob Pisani.
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