Commodities markets summary
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A summary of trading in key commodities markets overseas:
Oil prices were mixed on Friday, with the New York WTI higher on data showing crude supplies unexpectedly shrank sharply in the United States, the world's biggest oil consumer.
New York's main West Texas Intermediate contract, light sweet crude for delivery in February, rose 17 cents from Thursday to close at $93.09 a barrel.
In London trade, Brent North Sea crude for February settled at $111.31 a barrel, down 83 cents.
The New York market found support after the US Department of Energy's weekly petroleum inventories statement.
Crude supplies dived by 11.1 million barrels in the week ended December 28, much more than the 1.0 million consensus estimate of analysts polled by Dow Jones Newswires.
Still, US crude supplies were 9.2 per cent higher than their year-ago level.
Gasoline supplies rose by a stronger-than-expected 2.6 million barrels, and distillates, which include diesel and heating oil, climbed by 4.6 million barrels.
Earlier, WTI and Brent prices were sharply lower after minutes of the December US Federal Reserve policy meeting, released Thursday, showed central bank officials were divided over the duration of asset purchases, signaling they could end as early as this year.
Gold closed lower for a sixth straight week on Friday, its longest losing streak in eight years.
Gold lost $US25.70 to settle at $US1,648.90 an ounce. It's now eight per cent below the recent peak of $US1,792 an ounce it reached on October 4.
Gold rose as high as $US1,900 an ounce in August 2011.
The latest decline came after the Federal Reserve released minutes of its December meeting showing that policymakers disagreed over how long to keep a bond-purchase program in place.
Traders inferred the Fed might shorten the program, which could send US interest rates, and therefore the US dollar, higher.
That in turn would hurt the price of gold, which investors often buy as an alternative to holding dollars.
An index measuring the dollar against six other currencies is up one per cent this week.
Other metals also fell.
March silver lost 77.4 cents to $US29.946 an ounce.
March copper fell 2.35 cents to $US3.6935 per pound.
March palladium lost $US8.65 to $US688.50 per ounce, and platinum for April delivery fell $US21.40 to $US1,558.50 per ounce.