The Standard & Poor’s GSCI gauge of 24 commodities rose 0.9 percent to 668.27 as of 5:08 p.m. in Singapore. The UBS Bloomberg CMCI index of 26 raw materials climbed 0.7 percent to 1562.165. CRUDE OIL Futures rose in New York for the first time in four days as Venezuela said OPEC shouldn’t intervene to offset sanctions against Iran, and European leaders were scheduled to discuss strategies for resolving their debt crisis. Crude for February delivery rose as much as $1.02 to $102.33 a barrel in electronic trading on the New York Mercantile Exchange. It was at $102.30 at 4:32 p.m. Singapore time. Yesterday, the contract slid 0.3 percent to $101.31, the lowest close since Dec. 30. Prices advanced 8.2 percent in 2011. the third annual increase. NATURAL GAS OIL PRODUCTS Gasoil’s premium to Dubai crude rose 18 cents, or 1 percent, to $18.93 a barrel, PVM data showed. This crack spread is at the widest since Dec. 7. Japan naphtha swaps rose 25 cents to $955.50 a metric ton at 10:33 a.m. Singapore time, according to PVM Oil Associates Ltd., a London-based broker. PRECIOUS METALS Spot gold gained as much as 0.7 percent to $1,623.28 an ounce before trading at $1,617.45 an ounce at 3:57 p.m. Singapore time. It fell 0.4 percent yesterday and dropped 0.3 percent on Jan. 6. February-delivery bullion advanced 0.6 percent to $1,617.90 an ounce on the Comex in New York. BASE METALS Copper for delivery in three months climbed as much as 1.5 percent to $7,609.50 per metric ton on the London Metal Exchange and traded at $7,577.75 by 3 p.m. Shanghai time. Yesterday it fell to $7,445 a ton, the lowest level since Dec. 29. The March- delivery contract traded on the Shanghai Futures Exchange closed 0.7 percent higher at 55,870 yuan ($8,848) a ton. GRAINS, SOFT COMMODITIES Cocoa for March delivery jumped 7 percent to settle at $2,170 a metric ton at 12:02 p.m. on ICE Futures U.S. in New York, the biggest gain since Oct. 5, 2009. Raw-sugar futures for March delivery rose 0.2 percent to close at 23.34 cents a pound in New York. The sweetener tumbled 27 percent last year as output climbed in Europe and Asia. Arabica-coffee futures for March delivery increased less than 0.1 percent to $2.2185 a pound on ICE. The commodity fell 2.2 percent last week. March-delivery corn advanced as much as 0.6 percent to $6.56 a bushel on the Chicago Board of Trade, extending yesterday’s 1.3 percent rise. It traded at $6.54 a bushel at 3:14 p.m. Singapore time. To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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