Commodities: Crude Oil Gains, Gold Dips

Updated from 1:10 p.m. EDT

Energy and agricultural futures were mainly to the plus side Monday, while most precious metals prices decreased.

Crude oil for April delivery rose $1.10 to $47.35 a barrel despite OPEC's decision to not change its production targets. Reformulated gasoline gained 1 cent to almost $1.37 a gallon, and heating oil was fractionally higher at $1.21 a gallon. Natural gas fell 8 cents to $3.85 per million British thermal units.

Among metals, gold dropped $8.10 to $922 an ounce, and silver was off 33 cents at $12.89 an ounce. Platinum was slightly lower, and palladium was little changed. Copper, meanwhile, added 7 cents to $1.73 a pound.

Most agricultural contracts were stronger, led by soybeans, wheat and cocoa. Lean hogs and cattle declined. In the foreign exchange market, the dollar fell against the majority of its major competitors.

The Reuters/Jefferies CRB Index was up 2.81 points to end at 213.89.

As for commodity-related stocks, major oil companies were flat. Exxon Mobil ( XOM) was down 0.3% at $66.97, ConocoPhillips ( COP) fell 0.8% to $36.12, and Chevron ( CVX) edged up 3 cents to $62.94.

Metals companies were mixed. Alcoa ( AA) gained 6.8% to $6.12, and Freeport-McMoRan ( FCX) was up 0.6% at $37.26. BHP ( BHP) and Rio Tinto ( RTP), though, dropped.

Ag stocks Monsanto ( MON) and Bunge ( BG) rose, while Potash ( POT) fell.

Turning to exchange-traded funds, the U.S. Oil ( USO) was up 2.2% at $28.25, but the Gold Shares ( GLD) was down 0.6% at $90.80. The iShares Silver Trust ( SLV) was off 2% to $12.79.

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