Crude-oil futures settled below $50 a barrel on Monday amid investor concerns about excess crude supply in U.S. markets, but cold weather and a refinery strike fed a 5% rally in heating-oil prices.
On the New York Mercantile Exchange, crude for delivery in April CLJ5, +0.08% lost $1.36, or 2.7%, to settle at $49.45 a barrel. April Brent crude LCOJ5, +0.44% lost $1.32, or 2.2%, to end at $58.90 a barrel on London’s ICE Futures exchange.
In other metals trading, March copper HGH5, -0.58% settled little changed at $2.593 a pound.
April platinum PLJ5, +0.30% lost $6.60 to $1,162.90 an ounce, and March palladium PAH5, +0.23% added $6.75 to $785.95 an ounce.
Gold prices settled lower on Monday, but found some support at the key $1,200 level as traders watched developments linked to Greece’s bailout extension.
Gold for April delivery GCJ5, +0.10% fell $4.10, or 0.3%, to settle at $1,200.80 an ounce on Comex. The decline marked a second straight session decline for prices.
March silver SIH5, +0.47% also declined by 1.9 cents, or 0.1%, to end at $16.254 an ounce.
