Oil futures fell on Thursday, but settled well above the session’s worst levels after U.S. government report showed a rise in weekly crude supplies that was smaller than the “gargantuan” increase reported by a trade group a day earlier.
Oil for March delivery CLH5, +0.94% fell 98 cents, or 1.9%, to settle at $51.16 a barrel on the New York Mercantile Exchange.
In step with gold’s gains, March silver SIH5, +0.36% added 11.6 cents, or 0.7%, to end at $16.38 an ounce.
March copper HGH5, -0.34% rose by around half a cent to $2.62 a pound.
April platinum PLJ5, -0.19% rose $5.10, or 0.4%, to $1,172.30 an ounce, and March palladium PAH5, -0.03% added $10.20, or 1.3%, to $786.80 an ounce.
Gold futures settled higher on Thursday, rebounding from their lowest close in almost seven weeks on signs the Federal Reserve is in no hurry to hike interest rates.
Gold for April delivery GCJ5, -0.03% tacked on $7.40, or 0.5%, to settle at $1,207.60 an ounce on Comex.
