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AAP

2012-12-10

A summary of trading in key commodities markets overseas:

ENERGY

The price of oil ended the week lower after the latest US jobs report offered a mixed picture of the economy.

Benchmark oil dropped 33 cents to finish at $US85.93 per barrel in New York, which marked the fourth consecutive day of price declines.

Oil fell 3.4 per cent over the week.

Brent crude, which is used to price international varieties of oil, fell 1 cent to $US107.02 per barrel.

The Labor Department said 146,000 jobs were created in November, which was more than economists had anticipated.

The unemployment rate fell to 7.7 per cent from 7.9 per cent in October, but that was largely because more people stopped looking for work and weren't counted as unemployed.

And job gains for September and October were revised lower.

Meanwhile, in another bad sign for energy demand in Europe, Germany's central bank lowered its expectation for economic growth next year.

METALS

Copper rebounded following a drop the day before when the European Central Bank cut its forecast for growth in the euro region for next year.

Copper for March delivery rose 1.85 cents to $US3.6630 a pound.

Other metals futures also rose.

Gold for February delivery rose $US3.70 to $US1,705.50 an ounce.

March silver rose 1.7 cents to $US33.131 an ounce and January platinum rose $US6.30 to $US1,607 an ounce.

March palladium rose 95 cents to $US698 an ounce.

AAP dm