Friday, May 24, 2013 5:27 pm
Metals and agricultural futures prices slip
By The Associated Press
Crude oil ended the week down 2 percent as traders worried about global demand and shared the stock market's concerns about possible changes to the Federal Reserve economic stimulus program.
Gold for June delivery fell $5.20 to $1,386.60 an ounce. Other metals prices also fell.
July silver fell 1.2 cents to $22.496 an ounce, July platinum fell $5.30 to $1,451.90 an ounce and June palladium fell $12.20 to $726.45 an ounce. July copper fell a penny to $3.2955.
Crop prices were also slightly lower.
In July contracts, wheat fell 5.75 cents to $6.975 a bushel, corn fell 4.75 cents to $6.5725 a bushel, and soybeans fell 23.25 cents to $14.7625 a bushel.
Crude oil dipped 10 cents to settle at $94.15 a barrel on the New York Mercantile Exchange. It was the fourth straight loss for oil, bringing its decline for the week to $1.87 a barrel.
Other energy futures closed mostly lower, except for gasoline:
- Heating oil was flat at $2.86 a gallon.
- Natural gas fell 2 cents to $4.24 per 1,000 cubic feet.
- Wholesale gasoline rose 1 cent to $2.84 a gallon.