Oil, natural gas futures higher; Gold falls

AP News
Posted: Jan 28, 2014 6:05 PM

Crude oil and natural gas futures rose Tuesday, reversing declines from the day before. Gold futures rose, and agricultural commodities were mixed.

U.S. crude for March delivery gained $1.69, or 1.8 percent, to close at $97.41 on the New York Mercantile Exchange.

Natural gas rose 19 cents to $5.03 per 1,000 cubic feet.

Other energy prices also rose. Wholesale gasoline rose 1 cent to $2.63 a gallon. Heating oil gained 3 cents to $3.12 a gallon.

Energy prices are rising as more cold weather swept across the northern tier of the country.

In metals trading, gold for February delivery fell $12.60 to $1,250.80 an ounce. Silver for March delivery fell 29 cents to $19.50 an ounce.

High-grade copper fell half a penny to $3.25 a pound. April platinum fell $11.70 to $1,409.40 an ounce and March palladium fell $6.05 to $716.50 an ounce.

Agricultural futures were mixed.

Corn for March delivery edged up a quarter of a cent to $4.32 a bushel, March wheat rose 2.5 cents to $5.66 a bushel. March soybeans edged down 2.25 cents to $12.855 a bushel.