Commodities were mixed in Tuesday trading with both gold and
crude oil futures ending lower while the dollar gained strength
against foreign currencies.
Gold for June delivery lost $5.80, or 0.5%, to settle at
$1,105.70 an ounce, roughly in line with their Friday's closing
Meanwhile crude oil futures settled off $0.20 cents, or 0.2%, at
$82.37 a barrel on the New York Mercantile Exchange.
Crude-oil inventory data from trade group American Petroleum
Association is due at 4:30 p.m. Eastern. The Energy Information
Administration will release the government's figures Wednesday
Analysts polled by Platts expect inventories to increase 2.65
million barrels in weekly crude stockpiles. They also project
drawdowns of 2 million barrels for gasoline and 1.2 million barrels
In other metals, silver futures fell 0.33%, or $0.6, to close at
$17.33 a troy ounce. Copper futures closed up 0.69%, or $2.45, to
$356 a pound.
In energy stocks, BioFuel (
) said late Monday it earned $0.21 per share in Q4 on sales of
$120.4 million. Sales were up from a year ago and income was up
from a loss a year ago.
It also reported that its auditors have included an explanatory
paragraph with its audit opinion on the company's December 31, 2009
financial statements, expressing substantial doubt about the
company's ability to continue as a going concern.
BioFuel shares were up 14.29%, or $0.44, to $3.52 in late
Also Tuesday, a subsidiary of Chevron Corp. (
) spent $5.3 million in Q4 to lobby the federal government on trade
issues in Ecuador, a variety of environmental bills and other
issues, according to a disclosure report. That was more than double
the $2.4 million that Chevron spent in the year-ago period.
Chevron shares were up 0.25%, or $0.19, to $75.42.
Also Tuesday, Reuters reported that the United Arab Emirates $10
billion Shah gas project will start-up by the second or third
quarter of 2014. U.S. oil giant ConocoPhillips (
) has yet to make a final investment decision on it.
ConocoPhillips shares were up 0.25%, or $0.13, to $51.28.
In other energy futures, heating oil was up 0.30%, or $0.64, to
$212.52. Natural gas futures were up 1.56%, or $0.06, to $3.97.
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