The Standard & Poor’s GSCI gauge of 24 commodities rose 0.4 percent to 657.75 as of 4:50 p.m. in Singapore. The UBS Bloomberg CMCI index of 26 raw materials climbed 0.1 percent to 1554.094. CRUDE OIL Oil advanced in New York, trimming the biggest weekly decline in a month, as signs Europe’s debt crisis is easing countered indications a proposed embargo on Iranian crude will be delayed. Crude for February delivery increased as much as $1.09 to $100.19 a barrel in electronic trading on the New York Mercantile Exchange. It was at $99.91 at 8:33 a.m. London time. The contract yesterday fell $1.77, or 1.8 percent, to $99.10, the lowest close since Dec. 30. Prices are down 1.4 percent this week, the biggest decline since the five days ended Dec. 16, and up 1.1 percent this year. NATURAL GAS OIL PRODUCTS The premium of gasoil, or diesel, to Asian marker Dubai crude advanced $1.59 to $20.21 a barrel at 11 a.m. Singapore time, according to PVM Oil Associates Ltd., a broker. This crack spread widened the most since Nov. 11. PRECIOUS METALS Gold for immediate-delivery fell as much as 0.9 percent to $1,635.05 an ounce and traded at $1,646.68 at 2:56 p.m. in Singapore. The metal headed for a 1.8 percent gain this week after touching $1,662.20 yesterday, the highest since Dec. 13. February-delivery bullion was little changed at $1,647 an ounce on the Comex in New York. BASE METALS Copper for delivery in three months climbed 0.3 percent to $8,029.75 a metric ton on the London Metal Exchange at 3:34 p.m. Shanghai time, after falling as much as 1.1 percent earlier. The contract climbed to $8,074.50 a ton yesterday, the highest since Oct. 31, and has gained 6 percent this week. GRAINS, SOFT COMMODITIES March delivery soybeans gained as much as 1 percent to $11.945 a bushel on the Chicago Board of Trade, after losing 1.7 percent yesterday as the cut in global inventories was smaller- than-expected. Futures traded at $11.8975 at 3:45 p.m. in Singapore, paring the weekly loss to 0.6 percent. March-delivery corn traded little changed at $6.1125 a bushel, after declining as much as 1.1 percent to $6.05, the lowest price for a most-active contract since Dec. 21. Futures are set for a 5 percent loss this week, the biggest such slump since the five days ended Sept. 30. They plunged 6.1 percent yesterday after the USDA raised its global supply estimates. output estimates for South America. Wheat for March delivery gained 0.3 percent to $6.0625 a bushel, paring the second weekly loss to 2.9 percent. To contact the reporter on this story: Christian Schmollinger in Singapore at christian.s@bloomberg.net To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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