Commodities markets summary
Market watch top headlines
A summary of trading in key commodities markets overseas:
Oil prices finished higher on Friday in New York, buoyed by greater optimism about global growth following encouraging indicators from the US and China.
A barrel of West Texas Intermediate, the US benchmark, settled 28 cents higher at $97.77 on the New York Mercantile Exchange.
Even stronger was the price of European oil benchmark Brent futures, which closed at $116.76 a barrel on the Intercontinental Exchange, up $1.21. The close was Brent's highest level since May 2012.
Oil prices got a lift from Friday's monthly US nonfarm labour payroll data.
Gold futures settled have higher as investors continued to watch economic data for clues about the Federal Reserve's policy stance.
The most actively traded contract, for April delivery, on Friday rose $US8.60, or 0.5 per cent, to settle at $US1,670.60 a troy ounce on the Comex division of the New York Mercantile Exchange. The contract was up 0.9 per cent since the previous Friday.
A melange of US economic data kept gold traders on their toes, with a mixed employment report sending gold sharply higher early in the day.
The economy added new jobs at a slower pace than analysts expected, and the January unemployment rate ticked up one-tenth of a percentage point to 7.9 per cent. However, the data for the last two months were revised sharply higher.
Base metals have closed higher on the London Metal Exchange (LME), boosted by stronger-than-expected US manufacturing data.
At the close of open outcry trading on Friday, LME three-month copper was up 1.5 per cent at $US8,290 a metric ton, its highest close in four months. Aluminum ended the session 1.7 per cent higher on the day at $US2,125/ton.
The Institute for Supply Management said its US manufacturing purchasing managers' index rose to 53.1 in January, from 50.2 in December, beating forecasts of an increase to 51.0. A reading above 50 indicates activity in the manufacturing sector is on the rise.
Base metals, which are used widely in manufacturing, pushed higher after the report.