Spotlight: Oil rose to one-month high on refinery shutdown, natural gas and heating oil advanced on the back of colder weather. Wheat fell from a record in Chicago after the exchange expanded daily pricing limits. Gold and silver rose on demand for inflation hedge.
Energy: Crude oil rose to a one-month high after Valero Energy Corp. shut its Delaware refinery because of a power failure yesterday and cold weather swept across the northern U.S. Natural gas and heating oil soared on the back of colder weather will linger into next week.
Agriculture: Wheat fell from a record in Chicago after the exchange expanded daily pricing limits, clearing the way for sales that had been halted during the 16 percent rally last week, the biggest ever. Notably, corn fell and soybeans dropped the most in two weeks on speculation rains will help harvests in Brazil and Argentina, the biggest exporters of the crops after the U.S.
Cotton fell to a six-week low on signs global demand will slow. However, coffee rose to its highest in almost a decade as Colombia and Vietnam harvested less, tightening supplies. Cocoa rose on speculation that investors are betting commodities will outpace stocks again this year.
Precious Metals: Gold futures rose to a one-week high after energy costs climbed. Platinum rose to record on supply concerns. Silver and palladium rose.
Industrial Metals: Copper rose to the highest in more than three months as falling production and slumping inventories heightened speculation that metal supplies will trail demand.
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