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COMMODITIES DAYBOOK: Oil Declines on Italian Election Results

Feb. 25 (Bloomberg) -- West Texas Intermediate oil fell to the lowest level in seven weeks in electronic trading after the settlement as partial election results in Italy heightened concern that the euro-zone debt crisis may deepen.

WHAT TO WATCH (ALL TIMES NEW YORK) * 10am Fed’s Bernanke Testifies at Senate Banking Committee * 10am House Oversight Committee hearing on TARP, Executive Pay * 2pm USDA Cattle, Hog Slaughter * 430pm API U.S. Gasoline Inventories

TOP STORIES * CME Said to Approach Deutsche Boerse to Consider Deal Talks * Oil Slips as Kerry Says Diplomatic Solution Possible on Iran * Natural Gas Jumps on Forecasts of Cold Weather in March * Gold Rises Most in Three Weeks on Central Bank Purchases * Wheat Drops to 8-Month Low as Drought Eases; Soybeans Fall * Cattle Climb as Second Storm May Disrupt Supplies; Hogs Drop * Nickel Prices Drop as Manufacturing Expansion Slows in China * Gasoline Weakens as Crude Retreats After Kerry’s Iran Comments

ON THE FRONT PAGES * Argentina’s Salta Soybeans Farmers Face Losses: Agronoa * Kawasaki Heavy to Make LNG-Fueled Ships, Nikkei Says * Kansai Electric, Osaka Gas to Bid on UAE Plant, Nikkei Says

ECONOMIC DATA * 9am S&P/Case Shiller Home Price Index * 10am Richmond Fed Manufacturing Index * 10am Consumer Confidence * 10am New Home Sales

MARKETS * Crude oil down 2 cents to $93.11/barrel * Gasoline drops 0.6% to $3.0611/gallon * Natural Gas jumps 3.7% to $3.414 per mmBtu * Gold climbs 0.9% to $1,586.60/oz * Copper up 0.3% to $3.561/lb * Soybeans fall 0.6% to $14.3525/bu * Wheat slides 1.9% to $7.0525/bu * Dollar index gains 0.4% to 81.821 * MSCI All-Country index loses 0.7% to 351.34

BLOOMBERG TV * 6am US Secretary of State Kerry and Germany’s Westerwelle * 830am JP Morgan Chase & Co. Investor Day * 10am Bernanke testifies about monetary policy, economy

To contact the reporter on this story: Mario Parker in Chicago at

To contact the editor responsible for this story: Dan Stets at

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