Commodities markets summary
Market watch top headlines
A summary of trading in key commodities markets overseas:
Oil prices rose on Friday on concerns about supply in the wake of the latest burst of violence in the Middle East.
The price of a barrel of light, sweet crude oil for delivery in December rose $US1.22 to $US86.67 a barrel on the New York Mercantile Exchange.
In London, Brent futures, trading in the first day of the January contract, closed at $US108.95 a barrel, up 94 cents on the Intercontinental Exchange.
Friday's jump in oil prices reversed Thursday's trading, which saw oil prices retreat due to uncertainty about global economic growth.
Platinum futures slipped to a one-week low as a further easing of labour tension in top producer South Africa limited the risk of further supply disruptions.
Platinum for January delivery, the most actively traded contract, fell $US11.50, or 0.7 per cent, to settle at $US1,561.80 a troy ounce on the New York Mercantile Exchange.
Palladium for December delivery fell $US4.75, or 0.8 per cent, to settle at $US626.45 a troy ounce.
Workers at Anglo American Platinum Ltd returned to work on Thursday, the company said, potentially ending the last major unresolved dispute in South Africa's massive platinum industry.
Gold prices gained slightly as traders who had bet on lower prices cashed out amid ongoing missile strikes between Israel and Gaza.
The most actively traded contract, for December delivery, rose 90 US cents, or 0.1 per cent, to settle at $US1,714.70 a troy ounce on the Comex division of the Nymex.
Base metals on the London Metal Exchange (LME) have closed mostly lower amid euro weakness having moved little over the session, with only nickel going up into positive territory.
At the close of open-outcry trading on Friday LME copper was down 0.5 per cent on the day at $US7,605 a metric ton.
Aluminum was down 0.6 per cent at $US1,951/ton with support tipped between $US1,900/ton and $US1,925/ton.
Failing to hold above the $US2,200/ton level, lead suffered the heaviest decline to close 2.2 per cent lower on the day at $US2,150/ton.
A weaker euro and weaker equity markets had weighed on the base metal complex.
Nickel was the only metal to in fact close higher on the day, Standard Bank Friday trimmed its 2012 and 2013 price forecasts for the metal to $US17,450 per ton and $US17,800/ton respectively, from $US17,900/ton and $US18,550/ton.