Commodities markets summary
Market watch top headlines
Australian reports
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- Aust credit close: Aust bonds prices weaker
World reports
- World commodities: Commodities markets summary
- World markets: International markets roundup
AAP
2012-09-21
A summary of trading in key commodities markets overseas overnight:
ENERGY
Oil prices closed mixed Thursday after recent sharp falls as investors weighed prospects of weaker energy demand and abundant supplies.
Data showing manufacturing activity in China, the world's largest energy consumer, contracted for the 11th straight month in September hit sentiment.
New York's main contract, light sweet crude for October, dipped 11 cents to settle at $US91.87 a barrel in the contract's final trading day.
The benchmark West Texas Intermediate (WTI) futures contract has lost roughly $US9 so far this week, including a third of it Wednesday following official data showing a surprisingly strong increase in US petroleum supplies.
In London trade, Brent North Sea crude for delivery in November rose $US1.84 to $US110.03 a barrel.
Crude demand worries were stoked after British banking giant HSBC on Thursday released data showing China's manufacturing sector still stuck in a rut, said Justin Harper, a strategist at IG Markets Singapore trading group.
METALS
Gold ended nearly flat as the market paused after its recent sharp rally, while a key technical-chart formation suggests momentum is turning increasing bullish.
On Thursday, the metal traded in a relatively narrow $20 range, largely tracking a flat US equities market. Bullion investors held their bets after the metal's strong gains that followed new monetary stimulus by central banks around the world.
December gold was fell $US1.50 to $US1,770.20 per ounce.
December silver rose 9.4 cents to $US34.68 per ounce.
Copper for December delivery fell 5.5 cents to finish at $3.759 per pound.
