The Standard & Poor’s GSCI Spot Index of 24 materials rose 0.1 percent to 658.12 in New York. The UBS Bloomberg CMCI gauge of 26 commodities slipped 0.2 percent to 1,559.679.
Gasoline rose for the first time in four days and pump prices edged closer to last year’s highs. Crack spreads and the April contract’s premium to later months increased.
March futures advanced 1.4 percent. The Energy Information Administration said yesterday supplies sank 2.88 million barrels last week as refinery rates and imports declined while demand increased. Average retail prices have jumped 15 percent this year to within 15.5 cents of last year’s high of $3.936, according to AAA data.
Gasoline for March delivery rose 4.31 cents to settle at $3.0796 a gallon on the New York Mercantile Exchange.
Retail gasoline, averaged nationwide, rose 0.3 cent to $3.781 a gallon, AAA, the largest U.S. motoring club, said today on its website.
Heating oil for March delivery gained 0.85 cent to $3.1042 a gallon on the Nymex.
Oil products markets: NI OPFMKT
West Texas Intermediate oil rose, paring the biggest weekly decline since December, after German business confidence climbed to a 10-month high and the Standard & Poor’s 500 Index advanced.
WTI crude oil for April delivery increased 29 cents to settle at $93.13 a barrel on the Nymex.
Brent crude for April settlement gained 57 cents, or 0.5 percent, to settle at $114.10 a barrel on the London-based ICE Futures Europe exchange.
Oil futures: NI CRMKTS
Gold futures slumped to a seven-month low as signs of economic optimism eroded demand for the precious metal as a haven. Silver and platinum also declined.
Gold futures for April delivery fell 0.4 percent to $1,572.80 an ounce on the Comex in New York.
Silver futures for May delivery declined 0.8 percent to $28.52 an ounce on the Comex.
On the Nymex, platinum futures for April delivery fell 0.8 percent to settle at $1,607.40 an ounce. Palladium for March delivery gained 0.2 percent to $735.30 an ounce.
Precious-metal markets: NI PCMKTS
Sugar rose, capping the first weekly gain in three, on concern that a record backlog at Brazil’s Port of Santos will cut supply from the world’s top producer and exporter. Coffee, orange juice and cocoa also gained, while cotton fell.
Raw-sugar for May delivery climbed 1.4 percent to settle at 18.15 cents on ICE Futures U.S. in New York.
Also on ICE, cotton futures for May delivery slipped 0.1 percent to 83.14 cents a pound.
Arabica coffee for May delivery gained 1.4 percent to $1.438 a pound in New York.
Cocoa futures for May delivery advanced 0.3 percent to $2,139 a metric ton. Orange-juice futures for May delivery rose 0.3 percent to $1.2925 a pound.
Soft commodities markets: NI SOMKTS
Natural gas futures advanced in New York, capping the first weekly increase since mid-January, on speculation that a cold end to the U.S. heating season will boost demand.
Natural gas for March delivery increased 4.5 cents, or 1.4 percent, to settle at $3.291 per million British thermal units on the Nymex.
U.S. gas market: NI NUSMKT
Aluminum fell, capping the biggest weekly drop in 14 months, on signs that increasing output in China will add to a global glut.
Aluminum for delivery in three months dropped 1.3 percent to settle at $2,048 a ton on the London Metal Exchange.
Copper for delivery in three months fell 0.8 percent to $7,801 a ton ($3.54 a pound) on the LME.
Copper futures for May delivery declined 0.5 percent to settle at $3.5505 a pound in New York on the Comex.
Zinc and lead declined, while nickel gained. Tin was little changed.
Base-metal markets: NI BMMKTS
Soybeans fell the most in two weeks after a U.S. Department of Agriculture report showed stockpiles will surge as output recovers from a drought in 2012. Wheat and corn futures also declined.
Soybean futures for May delivery fell 1.8 percent to settle at $14.4375 a bushel on the Chicago Board of Trade.
Wheat for delivery in May sank 0.7 percent to settle at $7.1875 a bushel on the CBOT.
Corn futures for May delivery dropped 0.2 percent to $6.8425 a bushel in Chicago.
Grain markets: NI GRMKTS
Cattle rose for the first time this week on speculation that a winter storm sweeping across the U.S. may reduce animal weights, while beef exports jumped. Hogs fell, capping the longest decline since October 2008.
Cattle futures for April delivery rose 0.3 percent to $1.28225 a pound on the Chicago Mercantile Exchange. Feeder-cattle futures for March settlement advanced 0.4 percent to $1.4125 a pound.
Hog futures for April settlement declined 0.9 percent to close at 81.65 cents a pound.
Livestock markets: NI LVMKTS