Commodities ended mixed Tuesday after gold futures closed down
as crude oil futures erased losses to close higher.
Gold for June delivery lost $5.90, or 0.5%, to finish at
$1,142.90 an ounce. In other metals, silver futures were down
0.60%, or $0.10, to $17.97 while copper futures were down 1.21%, or
$4.3, to $351.45 a pound.
Crude oil for June delivery closed up $0.02 higher, or 0.02%, at
$83.70 a barrel. Natural gas for May delivery gained $0.17 cents,
or 4.4%, to end at $4.1280 per million British thermal units.
Oil saw strength later in the day after the National Association
of Realtors issued data that showed home purchases rose 6.8%.
In energy stocks, the U.S. Coast Guard combed waters in the Gulf
of Mexico overnight searching for 11 offshore oil workers missing
after an explosion on a Transocean Ltd. (
) drilling rig. Transocean shares were down 0.43%, or $0.39, to
Meanwhile, Diamond Offshore (
) was down after the oil services company said first-quarter
earnings fell to $290.9 million, or $2.09 a share, from $348.6
million, or $2.51 a share, in the year-ago period.
Diamond Offshore shares were off 4.99%, or $4.51, to $85.79.
Saudi Aramco "has asked for more time from bidders for deals to
build its 400,000 barrels per day Yanbu refinery after partner
) pulled out," Reuters reported, citing industry sources.
ConocoPhillips shares were down 0.82%, or $0.47, to $56.75.
In other commodities, hog futures were down from a 14-year high
"on speculation that U.S. retail demand for pork will slow after
wholesale prices reached the highest level since 2008," Bloomberg
reported. Wholesale pork was at 88.41 cents a pound, the highest
price since August 2008, U.S. Department of Agriculture data show,
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