The Standard & Poor’s GSCI gauge of 24 commodities rose 0.5 percent to 678.20 at 5:15 p.m. Singapore time. The UBS Bloomberg CMCI index of 26 raw materials climbed 0.3 percent to 1,620.130 yesterday. CRUDE OIL Oil climbed for a third day in New York as a U.S. government report showed refineries processed more crude last week and investors speculated Greece is closer to securing a second bailout. Crude for March delivery rose as much as 49 cents to $99.20 a barrel in electronic trading on the New York Mercantile Exchange. The contract was at $99.03 at 4 p.m. Singapore time. It increased 0.3 percent yesterday to $98.71, the highest since Jan. 30. Prices are 14 percent higher the past year. NATURAL GAS OIL PRODUCTS March high-sulfur fuel oil swaps advanced $5.75, or 0.8 percent, to $720.25 a ton, according to PVM. That’s the highest since July 22, 2008. Benchmark naphtha swaps increased $7, or 0.7 percent, to $999 a metric ton at 11 a.m. Singapore time, according to data from PVM Oil Associates Ltd., a broker. The petrochemical feedstock is the highest since Aug. 1. Naphtha’s premium to London-traded Brent crude futures gained $5.12 to $114.13 a ton, based on data compiled by Bloomberg. This crack spread, a measure of refining profit, is the widest in a week. PRECIOUS METALS Gold rebounded as optimism that Greece will reach agreement on a rescue plan to avoid a default weakened the dollar and spurred demand for alternative investments. Palladium rose to the highest level since Sept. 21. Spot gold rose as much as 0.4 percent to $1,739.57 an ounce before trading at $1,738.88 at 3:15 p.m. in Singapore, after falling 0.4 percent earlier. Palladium advanced as much as 0.4 percent to $717.75 an ounce. Spot silver rose 0.2 percent to $34.0325 an ounce, after climbing to $34.535 yesterday, the highest level since Nov. 16. The best-performing precious metal this year has risen 22 percent as investors sought to protect their wealth with holdings of a metal that may also benefit from economic growth. BASE METALS Copper for delivery in three months declined as much as 1 percent to $8,497 a metric ton on the London Metal Exchange, after rising 0.9 percent. It traded little changed at $8,581 by 3:07 p.m. Shanghai time. March-delivery copper on the Comex fell 0.3 percent to $3.8985 a pound. GRAINS, SOFT COMMODITIES, LIVESTOCK Hog prices fell yesterday for the second time this week on signs of increasing U.S. supplies of pork. Cattle futures gained. Hog futures for April settlement fell 0.2 percent to close at 88.95 cents a pound yesterday on the Chicago Mercantile Exchange. The price has gained 5.5 percent this year. Cattle futures for April delivery rose 0.2 percent to settle at $1.288 a pound in Chicago. The commodity has gained 6.1 percent this year. feeder-cattle futures for March settlement rose 0.2 percent to $1.55275 a pound. March-delivery soybeans rose as much as 0.3 percent to $12.355 per bushel on the Chicago Board of Trade, and were at $12.345 at 2:15 p.m. in Singapore. The oilseed is set for a fourth weekly gain, the best run since July. Corn for March-delivery was little changed at $6.4175 a bushel, while wheat for delivery in the same month rose 0.3 percent to $6.625 a bushel. Orange juice for March delivery fell 2.6 percent to close at $1.907 a pound yesterday on ICE Futures U.S. in New York. The commodity lost 2.8 percent yesterday. Cotton futures for March delivery declined 1 percent to 93.62 cents a pound on ICE. The price has plunged 47 percent in the past 12 months. Raw sugar for March delivery advanced 0.3 percent to settle at 24.48 cents a pound yesterday on ICE Futures U.S. in New York, after reaching 24.77 cents, the highest for a most-active contract since Jan. 27. 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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