Natural gas futures fell in New York as moderating weather cuts demand for the heating fuel.
Copper futures posted the biggest two-session drop in 28 months on signs of faltering economic growth from France to China, the world’s biggest consumer of industrial metals.
West Texas Intermediate crude rose for a second day after U.S. employers added more workers than projected in February, bolstering optimism about the economy. The WTI-Brent spread narrowed.
Hedge funds increased their bullish bets on West Texas Intermediate oil to a record as rising flows of domestic crude to Gulf Coast refineries cut demand for more costly foreign grades.
West Texas Intermediate crude rose for the first time in three days on speculation that inventories at Cushing, Oklahoma, fell last week. The price of Brent gained.
West Texas Intermediate crude increased to a four-month high on speculation that inventories at Cushing, Oklahoma, dropped for a third week.
Hedge funds became the most bullish on U.S. crude oil in more than five months as a new pipeline from Oklahoma to Gulf Coast refineries eased a supply bottleneck, driving prices above $100 a barrel.
West Texas Intermediate crude climbed after a U.S. government report showed that stockpiles of distillate fuel dropped for a fourth week because of cold weather in the world’s biggest oil-consuming country.
Copper rose to a two-week high in New York after European economic growth topped analysts’ estimates, bolstering optimism that demand may rise. Tin headed for the biggest gain in almost four months.
Natural gas futures slid to a two- week low in New York, capping the second straight weekly decline, as the outlook for milder weather signaled easing heating-fuel demand.
"The nationwide number certainly counterbalances Cushing and the market is taking notice."
- Tim Evans on Mar 11, 2014
Citi Futures’ Evans Discusses Energy Markets
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