Energy inches higher, metals end mixed

AP News
Posted: Sep 11, 2013 5:21 PM

The price of oil is edged higher Wednesday as traders watch for developments in Syria, while metals prices ended mixed. Crop prices edged higher.

Oil for October delivery rose 17 cents to close at $107.56 a barrel in New York.

A decrease in oil supplies helped push prices higher. The Energy Department said the nation's supply of oil fell by 200,000 barrels last week.

In other energy trading, wholesale gasoline fell 2 cents to $2.71 per gallon, natural gas lost 2 cents to $3.57 per 1,000 cubic feet and heating oil added 1 cent to $3.07 per gallon.

Gold for December delivery fell 20 cents to $1,363.80 an ounce. Silver edged higher but other metals fell slightly.

Silver for December delivery rose 15.6 cents to $23.172 an ounce. December copper fell 0.55 cent to $3.2570 a pound. October platinum fell 60 cents to $1,473.50 an ounce and December palladium fell $1.45 to $691.20 an ounce.

Major crop prices posted modest gains.

December wheat rose 1.5 cents to $6.48 a bushel. December corn rose 3.5 cents to $4.725 a bushel and November soybeans rose 3.25 cents to $13.5825 a bushel.