Oil futures finished modestly higher Tuesday, holding near a two-week high, as upbeat manufacturing data boosted the outlook for crude demand ahead of weekly reports on U.S. petroleum supplies.
On the New York Mercantile Exchange, crude for delivery in May CLK5, +3.74% settled at $47.51 a barrel, up 6 cents, or 0.1% — the contract’s third-straight session gain. That was the highest settlement for a front-month contract since March 11.
May Brent crude LCOK5, +2.90% on London’s ICE Futures exchange fell 81 cents, or 1.5%, to $55.11 a barrel.
In other metals trading, April platinum PLJ5, +0.28% gained $5 to end at $1,146.50 an ounce, while June palladium PAM5, +0.31% rose $1.70 to $765.40 an ounce.
May copper HGK5, +0.48% fell 1 cent to $2.79 a pound.
Gold futures rebounded from early weakness and posted a sixth straight winning session on Wednesday after an unexpected drop in February durable-goods orders.
Gold for April delivery GCJ5, +0.18% rose $5.60, or 0.5%, to close at $1,197 an ounce on Comex after tapping an intraday high of $1,199.30. The close was the highest since March 4.
May silver SIK5, +0.21% rose 2 cents, or 0.1%, to settle at $17 an ounce.