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Oil edges higher following losses; Gold rises

Oil inches higher after losses driven by concerns over ample supplies; Metals, crops are mixed

Oil edges higher following losses; Gold rises

NEW YORK (AP) -- Crude oil posted its first increase this week Thursday after China reported an increase in manufacturing.

Metals and crop prices ended mixed.

Oil for December delivery gained 25 cents to close at $97.11 a barrel in New York. It's still down 3.7 percent this week on concerns about large U.S. supplies of oil.

A survey showed China's manufacturing rose to a seven-month high in October, suggesting continued momentum for the recovery in the world's second-biggest economy and likely increased demand for energy.

Other energy futures were mixed.

Wholesale gasoline added 4 cents to $2.59 a gallon, natural gas rose 1 cent to $3.63 per 1,000 cubic feet and heating oil shed 2 cents to $2.90 a gallon.

Gold for December delivery rose $16.30 to $1,350.30 an ounce. Silver, platinum and palladium also rose but copper fell.

December silver rose 20.5 cents to $22.822 an ounce, platinum for January delivery rose $16.60 to $1,456.20 an ounce, and December palladium rose $1.70 to $747.80 an ounce.

High grade copper for December fell 0.4 cents to $3.2635 a pound.

In agricultural futures, December corn fell 2.5 cents to $4.4025 a bushel. November soybeans fell a quarter of a cent to $13.0975 a bushel and December wheat fell 5.25 cents to $6.965 a bushel.

Updated : 2021-07-31 04:19 GMT+08:00