CL
West Texas Intermediate crude rose for the first time in three days as signs of an improving U.S. economy and record new credit in China bolstered the demand outlook for the world’s two biggest oil consumers. China’s aggregate financing, the broadest measure of credit, reached $425 billion in January, the People’s Bank of China said in a statement on Feb. 15, signaling momentum to sustain growth. Yesterday, Futures climbed 0.6% in New York, extending a fifth weekly gain. WTI for March delivery increased 62 cents, to $100.92 a barrel. The volume of all futures traded was 76% below the 100-day average. Today, the same contract started the day slowly as it reached the high of $100.86 per barrel, 6 cents higher than the opening price.
GOLD
Gold advanced to the highest in more than three months as speculation the U.S. economic recovery will slow spurred demand for a haven. Silver headed for the longest rally in more than four decades. Last week, gold climbed 4.1%, the most since August 16. U.S. factory production unexpectedly declined in January by the most since May 2009, according to a report on February 14. The metal will establish a new range above $1,300 an ounce, and U.S. investors are becoming friendlier to the commodity, UBS AG said in a report today. Gold for immediate delivery rose 1% to $1,332.50 per ounce during the morning trades, just before its 0.8% loss to $1321.85, per ounce.
