The Standard & Poor’s GSCI gauge of 24 commodities fell 0.3 percent to 698.42 at 4:20 p.m. Singapore time. The UBS Bloomberg CMCI index of 26 raw materials rose 0.2 percent to 1,621.753.
Oil fell after the biggest gain in six weeks as a forecast for rising inventories in the U.S., the world’s biggest crude consumer, signaled demand may be easing.
Oil for May delivery slid as much as 57 cents to $104.66 a barrel in electronic trading on the New York Mercantile Exchange and was at $104.72 at 3:10 p.m. Singapore time. It climbed 2.2 percent yesterday, the most since Feb. 21, to $105.23. Prices are 6 percent higher this year.
Singapore gasoil’s premium to Dubai crude rose 34 cents, or 2.1 percent, to $16.37 a barrel at 10:15 a.m. Singapore time, according to data from PVM Oil Associates Ltd. , a broker. The spread is at the widest since Feb. 17.
Singapore fuel oil’s discount to Dubai crude, a measure of refining losses from the fuel in Asia, widened to $5.61 from $5.55 a barrel, PVM data showed.
Spot gold traded at $1,679.73 at 2:43 p.m. in Singapore, after rising as much as 0.2 percent earlier. Bullion climbed 1 percent in the past two days as the dollar fell 0.4 percent against a six-currency basket. The U.S. currency was lower against the euro today before data forecast to show U.S. factory orders rose the most in three months. June-delivery gold was little changed at $1,680.30 on the Comex in New York.
Cash silver increased as much as 0.5 percent to $33.1275 an ounce, and last traded at $33.0325. It climbed to $33.23 an ounce yesterday, the highest price since March 14.
Three-month copper rose as much as 0.7 percent to $8,702.75 a metric ton, the highest price since Feb. 10, on the London Metal Exchange and traded at $8,673.75 by 4:06 p.m. Tokyo time. May-delivery metal was up 0.4 percent at $3.9360 a pound on the Comex in New York. Markets in China are closed today.
GRAINS, SOFT COMMODITIES
The premium paid for arabica beans favored by Starbucks Corp. over the robusta used by Nestle SA may rally from a 20- month low because of a surge in supply from Vietnam, the biggest grower of the less costly coffee.
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