Commodities ended the day mixed as crude oil futures finished
lower while gold futures closed on a high note.
Crude oil for June delivery declined $0.92, or 1.1%, to close at
$84.20 a barrel on the New York Mercantile Exchange. In other
energy futures, heating oil was down 0.53%, or $0.01, to $2.23
while natural gas was up 0.54%, or $0.02, to $4.28.
Meanwhile, gold for June delivery rose $0.30, or 0.03%, to
$1,154 an ounce while platinum for July delivery added $3.30, or
0.2%, to close at $1,745 an ounce. Silver for May delivery rose
$0.14, or 0.8%, to end at $18.33 an ounce. Palladium for June
delivery gained $3.20, or 0.6%, to $566.40 an ounce.
Oil futures sank throughout the day mostly on a rising dollar
and continued worries about Greece's debt situation.
According to a MarketWatch story, "German Chancellor Angela
Merkel said in a press conference that aid will be provided to
Greece if absolutely necessary and if Greece meets certain
conditions, cautioning that an aid deal still needs to be worked
In energy stocks, German energy supplier E.ON AG is still
reviewing bids for its U.S. utility business worth approximately
$5.35 billion, Bloomberg reported, citing "a person briefed on the
Duke Energy Corp. (
) is "among the potential buyers for the unit," the Bloomberg
Duke Energy shares were up 0.09%, or $0.02, to $16.26.
Meanwhile, shares of BP plc (
) struggled in the red for most of the trading session after the
company said it could take months for the company to drill a
well to squelch an oil spill under the Gulf of Mexico that
threatens to become
an environmental disaster, Bloomberg reported.
BP shares were down 2.81%, or $1.68, to $58.20 in afternoon
Meanwhile ConocoPhillips (
) shares were higher despite Benchmark lowering its rating on the
company to "sell" from "hold." ConocoPhillips shares were up 0.34%,
or $0.20, to $58.29 in afternoon trading.
In other commodities, corn gained on speculation that China's
growing economy will boost demand for the grain from the U.S. Corn
futures for July delivery rose $0.01, or 0.4%, to $3.625 a bushel
on the Chicago Board of Trade.