Energy Prices Rise As Mideast Tensions Flare Up
The Associated Press
Prices for crude oil and other energy futures closed higher Wednesday as traders worried about supply disruptions because of escalating tensions in the Mideast.
Other commodities prices ended mixed. Metals prices were mostly higher, as were corn and soybeans. Copper and wheat futures fell.
Benchmark oil rose 94 cents to finish at $86.32 per barrel. That's a gain of just over 1 percent.Airstrikes from Israel into Gaza killed a Hamas commander. Israeli leaders said the strikes were the start of a broad operation in response to days of heavy rocket fire from militants in the Palestinian territory. In other energy trading, heating oil rose 2.74 cents to end at $2.9882 per gallon, gasoline futures rose 2.52 cents to end at $2.679 per gallon and natural gas rose 2.1 cents to end at $3.76 per 1,000 cubic feet. Copper was the only major metal to fall. December gold rose $5.30 to $1,730.10 an ounce, December silver rose 39.3 cents to $32.88 an ounce, December palladium rose $4.95 to $641.55 an ounce and January platinum rose $5.20 to $1,591.60 an ounce. High grade copper edged down 1.75 cents to $3.4535 a pound. In agricultural contracts, December wheat slid 2.25 cents to $8.4875 a bushel, its fourth straight decline. December corn climbed 2.25 cents to $7.2575 a bushel and January soybeans rose 11 cents to $14.19 per bushel.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV