COMMODITIES-Oil up on bargain hunting; gold drops on dollar

Thu Sep 26, 2013 6:20pm EDT

By Barani Krishnan
    NEW YORK, Sept 26 (Reuters) - Oil rose on Thursday as
bargain hunters entered the market following recent losses and
copper edged higher supported by improving demand in top
consumer China.
    Gold fell as a rise in the dollar and mixed U.S. economic
indicators prompted investors to take profits from bullion's
gains in the previous session.
    In crop markets, raw sugar fell from Wednesday's
4-1/2-month highs while robusta coffee hit three-year lows
. Wheat rose for the fourth straight day on
expectations of strong world demand due to crop woes in key
production areas around the globe. 
    The Thomson Reuters-Jefferies CRB index, a
bellwether for commodities, rose 0.3 percent, gaining for a
second straight day after losses in three earlier sessions.
Thirteen of the 19 components on the CRB finished higher.
    Oil prices firmed in light trading, despite easing political
worries and an improving supply picture.
    Benchmark Brent crude out of Europe's North Sea 
gained 89 cents to $109.21 a barrel.
    U.S. crude futures CLc1 finished up 37 cents at $103.03.
    Both Brent and U.S. crudes are still down over 4 percent in
September as fears faded about conflicts in the Middle East. The
steep declines brought some buyers into the market on Thursday,
analysts said. 
    Benchmark copper on the London Metal Exchange closed
at $7,251 a tonne, up from a last bid of $7,193 on Wednesday.
 
    In gold, the spot price of bullion was down about 1
percent at $1,324 an ounce. 
    
 Prices at 6:03 p.m. EDT (2203 GMT)      
                              LAST/      NET    PCT     YTD
                              CLOSE      CHG    CHG     CHG
 US crude                    102.87    -0.16  -0.2%   12.0%
 Brent crude                 109.22     0.90   0.8%   -1.7%
 Natural gas                  3.567    0.000   0.0%    6.4%
 
 US gold                    1324.10   -12.10  -0.9%  -21.0%
 Gold                       1323.26     0.17   0.0%  -21.0%
 US Copper                     3.30     0.03   1.1%   -9.5%
 LME Copper                 7251.00    53.50   0.7%   -8.6%
 Dollar                      80.529    0.195   0.2%    4.9%
 CRB                        286.765    0.886   0.3%   -2.8%
 
 US corn                     456.75     2.00   0.4%  -34.6%
 US soybeans                1316.75    -5.00  -0.4%   -7.2%
 US wheat                    678.25     7.75   1.2%  -12.8%
 
 US Coffee                   115.65    -1.60  -1.4%  -19.6%
 US Cocoa                   2597.00    24.00   0.9%   16.1%
 US Sugar                     17.51    -0.11  -0.6%  -10.3%
 
 US silver                   21.720   21.502   1.6%  -28.1%
 US platinum                1410.70   -18.10   0.0%   -8.3%
 US palladium                722.15    -2.05  -0.3%    2.7%
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