London, Dec. 16 (Bloomberg) -- The following commodity markets are
active today:
Crude oil for January settlement (COA ) was little
changed at $25.41 a barrel on the International Petroleum
Exchange, after falling in opening trading as much as 6 cents to
$25.37. Oil remains close to its highest level in nine years, as
colder weather during the Northern Hemisphere keeps demand above
supply. A drop in U.S. inventories to their lowest level in almost
three years pushed crude oil up 1.6 percent yesterday. (News: NI
OIL)
Coffee for March delivery (CFA ) was at $1,287 a
metric ton on the London International Financial Futures and
Options Exchange, after rising as much as $42, or 3.35 percent, to
$1,295 a metric ton on forecasts of dry weather returning to
Brazil, which may damage the world's biggest crop. Drought in
September and October led some producers to slash estimates for
next harvest by as much as half. Rainfall this month led
forecasters to declare the drought over, but little rain is
expected in the country's coffee-growing regions before the
weekend. (News: NI COFFEE)
Gold for immediate delivery (GOLDS ) dropped as much
as $2.58, or 0.9 percent, to $279.98 an ounce on concern producers
will step up sales before increased supply from central banks
pushes prices lower next year. Switzerland's upper house of
parliament is expected to vote Wednesday to approve a plan to
begin selling the nation's 2,600 metric tons of gold reserves next
year, traders said. (News: NI GLD)
Copper for three-month delivery (LMCADS03 ) rose as
much as $25, or 1.4 percent, to $1,820 on the London Metal
Exchange after reports signaled rising economic growth in Europe,
Asia and the U.S., raising expectations for greater demand.
Consumption is strong in the U.S., the world's top copper buyer,
where manufacturing output rose for the 12th straight month in
November, Federal Reserve said last night. (News: NI COPPER)
Natural gas for January delivery (FNA ) rose as much
as 0.43 pence, or 3.4 percent, to 13 pence (21 cents) a therm, its
highest in more than six weeks, on the International Petroleum
Exchange, as colder weather arrived to the U.K. and winter demand
for heating fuel accelerated.
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