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Commodities: Gains in energy offset by weakness in metals, agriculturals

Commodities

Commodities: Gains in energy offset by weakness in metals, agriculturals

Thu, 18 May 2017
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Commodities: Gains in energy offset by weakness in metals, agriculturals

(ShareCast News) - Weakness in metals and agricultural futures dragged the commodities complex lower, offsetting strength in energy.


West Texas Intermediate crude oil futures ended the session higher by 0.75% to $49.44 a barrel on the ICE, alongside gains of 0.64% for NYMEX traded gasoline to $1.6129 a gallon.

Heating oil futures also gained, rising 1.04% to $1.5494 per gallon.

June 2017 natural gas futures on the other hand slipped 0.31% to $3.18/MMBtu.

Precious metals were largely unwanted following the previous day's gains, with July 2017 COMEX silver off 1.63% to $16.63/oz..

Copper was also unloved, giving back 0.45% to $2.5350 a pound on COMEX.

Among agriculturals, corn fared worst, with July 2017 futures on the CBoT down by 1.41% to $3.6625 a bushel.