Commodities End Thursday Mixed As China Worries Take Hold


Commodities ended Thursday trading higher, with oil and gold closing in the black.

Gold for April delivery reversed early losses, spurred by fear of Chinese tightening measures, to close up 10 cents at $1,108.20 an ounce.

Copper futures also finished higher as the metal received a boost after Chile, the world's largest producer of the metal, was hit by aftershocks to last month's earthquake. Copper for May delivery rose 1.2 cents, or 0.4%, to end at $3.38 a pound at the New York Mercantile Exchange.

Meanwhile, crude for April delivery rose 2 cents to settle at $82.11 a barrel on the New York Mercantile Exchange.

Crude had come under some pressure earlier in the day as Chinese economic reports fueled concerns that Beijing might further tighten access to money to cool growth, leading to less demand from one of the world's biggest oil consumers.

In energy stocks, Clean Energy Fuels ( CLNE ) reported a narrower-than-expected fourth-quarter loss which drove investor interest in the stock on Thursday.

For the latest fourth quarter, net loss was $1.9 million, or $0.03 a share, compared with a loss of $23.7 million, or $0.49 a share, last year.

Total revenues for the quarter rose 49% to $42.2 million, driven by a 58% increase in gasoline gallon equivalents sold.

Clean Energy shares were up 17.39%, or $3.36, to $22.68.

Also Thursday, Exxon Mobil ( XOM ) said it will increase its capital spending nearly 4% this year to $28 billion as it evaluates new fields around the world. At the same time, executives cautioned that the global economy remained unsteady.

Exxon Mobil shares were down 0.25%, or $0.16, to $67.05.

Heating oil for April rose $0.01 to $2.11 a gallon, while gasoline for the same month fell $0.01 to $2.27 a gallon. Natural gas fell 2.54%, or $0.11, to close at $4.43.

Silver futures were up 0.75%, or $0.12, to close at $17.14.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: CLNE , XOM

MT Newswires

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