Skip to main content

Energy prices were rising Thursday on hopes that an improving global economy will boost demand for petroleum products, but precious metals were losing some of their crisis-fighting attractiveness owing to the same expectations of a recovery.

Crude oil for May delivery recently was up $3.46 at $51.85 a barrel, and reformulated gasoline was adding 8 cents to $1.46 a gallon. Heating oil was also up 8 cents, at $1.43 a gallon, while natural gas was fractionally better at $3.70 per million British thermal units.

Image placeholder title

Gold and silver, meanwhile, were tumbling. Gold was recently down $23.20 at $904.50 an ounce, and silver was losing 19 cents to $12.79 an ounce. Copper was up 4 cents at $1.89 a pound.

Agricultural futures were stronger across the board, led by wheat, soybeans, cocoa and sugar. Lean hogs and cattle were also advancing.

The Reuters/Jefferies CRB Index was higher by 5.51 points at 223.32.

In the foreign-exchange market, the dollar was plunging against most of its major counterparts, and both the euro and the pound rose roughly 2% on the greenback. The yen, however, was weaker.

As for commodity-related stocks,


(CVX) - Get Chevron Corporation Report

was up 3.9% at $70.98, and

Exxon Mobil

(XOM) - Get Exxon Mobil Corporation Report

was adding 2.2% at $70.72.

Gold miners were falling.


Scroll to Continue

TheStreet Recommends

(AEM) - Get Agnico Eagle Mines Limited Report

was down 6.7% at $53.97,

Eldorado Gold

(EGO) - Get Eldorado Gold Corporation Report

was off 3.8% at $8.79, and

Barrick Gold


was losing 4.5% to $32.37.

Among exchange-traded funds, the

U.S. Oil

(USO) - Get United States Oil Fund Report

was climbing 7.9% to $30.84, and the

Gold Shares

(GLD) - Get SPDR Gold Shares ETF Report

was dropping 2.2% to $88.99.


Market Vectors Agribusiness

(MOO) - Get VanEck Agribusiness ETF Report

was better by 4.2% at $30.33. Ratings, recently cited for Best Stock Selection from October 2007 through February 2009 , is an independent research provider that combines fundamental and technical analysis to offer investors tremendous value in volatile times. To see how your portfolio can use this research, click here now!