Platinum Jumps on Outlook for South Africa: Commodities at Close

The Standard & Poor’s GSCI gauge of 24 commodities dropped 0.1 percent to 666.82 at 5:30 p.m. in London. The UBS Bloomberg CMCI index of 26 raw materials was up 0.2 percent at 1,574.378.

PRECIOUS METALS

Platinum futures climbed to a six-week high on concern that clashes between police and striking miners will spread in South Africa, the world’s biggest producer of the metal used in pollution-control devices in vehicles.

On the New York Mercantile Exchange, platinum futures for October delivery rose 1.5 percent to $1,457 an ounce. Earlier, the price reached $1,464, the highest for a most-active contract since July 6.

Palladium futures for September delivery rose 2.2 percent to $596.10 an ounce. Earlier, the price reached $602.25, the highest since July 5.

On the Comex in New York, gold futures for December delivery fell 0.2 percent to $1,615.80 an ounce.

Silver futures for December delivery dropped 0.5 percent to $28.17 an ounce.

Precious metal markets: NI PCMKTS

CRUDE OIL

Oil declined for the first time in four days, reversing a gain of 0.3 percent.

Oil for September delivery fell 28 cents, or 0.3 percent, to $95.32 a barrel on the New York Mercantile Exchange. The contract increased $1.27 yesterday to settle at $95.60, the highest closing price since May 11.

Brent crude for October settlement fell $2.13, or 1.8 percent, to $113.14 a barrel on the London-based ICE Futures Europe exchange. Brent’s premium to October WTI narrowed to $17.49 from $19.38 yesterday.

Oil markets: NI OILMARKET

OIL PRODUCTS

Gasoline retreated as Brent crude weakened and on speculation imports from Europe will increase, trimming a stockpile deficit on the U.S. East Coast.

September-delivery gasoline fell 4.27 cents, or 1.4 percent, to $3.0405 a gallon on the New York Mercantile Exchange, the largest decline of any contract in the Standard & Poor’s GSCI commodity index.

Heating oil for September delivery declined 2.82 cents, or 0.9 percent, to $3.0947 a gallon on the exchange, after settling yesterday at the highest level since May 2. Prices are up 2.5 percent this week

Regular gasoline at the pump, averaged nationwide, rose 0.6 cent to $3.716 a gallon yesterday, AAA data showed. That’s the highest level since May 16. Prices have climbed 39 cents since July 1, according to data from the nation’s largest motoring organization.

Oil Products Europe: NI OPEMKT Gasoline: NI GASOLINE Heating oil: NI HEATOIL

NATURAL GAS

Natural gas futures gained in New York for the first time in three days on speculation that a supply glut will decline amid hotter-than-normal weather.

Natural gas for September delivery rose 2.3 cents, or 0.8 percent, to $2.747 per million British thermal units on the New York Mercantile Exchange. The futures have declined 8.1 percent this year and 0.8 percent this week, heading for a fourth weekly drop.

U.K. natural gas: NI NUKMKT Gas market: NI GASMARKET Americas natural gas: NI AGASMARKET European natural gas: NI EGASMARKET

SOFT COMMODITIES

Cocoa rose the most in three weeks in New York on speculation that dry weather will cut output in Ghana, the world’s top grower after Ivory Coast. Sugar, cotton, coffee and orange juice also climbed.

Cocoa futures for December delivery rose 2.3 percent to $2,455 a metric ton on ICE Futures U.S. in New York. A close at that price would mark the biggest gain since July 26.

Raw-sugar futures for October delivery added 1.8 percent to 20.52 cents a pound in New York.

Cotton futures for December delivery advanced 1.5 percent to 73.69 cents a pound, while arabica-coffee futures for December delivery increased 0.6 percent to $1.6275 a pound on ICE.

Orange-juice futures for November delivery climbed 0.2 percent to $1.0825 a pound in New York.

Soft commodities markets: NI SOMKTS

BASE METALS

Copper rose to a one-week high in New York after Germany signaled support for a European Central Bank plan to stem a financial crisis that threatens to slow demand for raw materials.

Copper futures for December delivery rose 1 percent to $3.426 a pound on the Comex in New York, after reaching $3.435, the highest level since Aug. 9.

On the LME, copper for delivery in three months rose 1.1 percent to $7,534 a ton ($3.43 a pound).

Aluminum, zinc, lead and tin also gained in London. Nickel fell.

Base metals markets: NI BMMKTS

LIVESTOCK

Feeder-cattle futures for October settlement fell 0.1 percent to $1.4405 a pound on the Chicago Mercantile Exchange.

Cattle futures for October delivery dropped 0.1 percent to $1.255 a pound on the CME.

Hog futures for October settlement rose 0.7 percent to 76.125 cents a pound in Chicago.

Livestock markets: NI LVMKTS

GRAINS, OILSEEDS

Wheat prices advanced for a third day in Chicago as falling supplies from Russia may boost demand for grain from the U.S. and the European Union.

December-delivery wheat rose 1.6 percent to $8.955 a bushel on the Chicago Board of Trade. Milling wheat for November delivery traded in the French capital gained 1.3 percent.

December-delivery corn lost 0.1 percent to $8.07 a bushel on the Chicago Board of Trade.

Soybeans for November delivery rose 0.6 percent to $16.3525 a bushel.

Grain markets: NI GRMKTS

EUROPEAN CARBON PERMITS

European Union carbon allowances for delivery in December fell 0.1 percent to 7.7 euros on the ICE Futures Europe exchange.

EU Carbon Emissions: NI ECBMKT

To contact the reporter on this story: Jessica Abrahams in London at jabrahams7@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net