The Standard & Poor’s GSCI gauge of 24 commodities dropped 0.4 percent to 670 at 5:09 p.m. Singapore time. The UBS Bloomberg CMCI index of 26 raw materials declined 0.4 percent to 1,598.448. CRUDE OIL Oil fell for a second day amid signs that the global economy is struggling, while European Central Bank policy makers prepare to discuss measures to stem the bloc’s debt crisis. Oil for October delivery was at $95.04 a barrel, down 26 cents, in electronic trading on the New York Mercantile Exchange at 9:17 a.m. London time. The contract decreased $1.17 yesterday to close at $95.30, the lowest level since Aug. 30. Front-month prices are down 3.8 percent this year. OIL PRODUCTS Gasoil’s premium to Dubai crude, a benchmark price for Asia, rose $2.51 to $22.05 a barrel at 9:58 a.m. Singapore time, according to data from PVM Oil Associates Ltd., a broker. The increase of 13 percent is the most since March 15, 2011. Gasoil swaps for October rose 25 cents, or 0.2 percent, to $132.65 a barrel, PVM data showed. High-sulfur fuel oil’s discount to Dubai crude narrowed 9 cents to $2.92 a barrel, PVM data showed. Fuel-oil swaps for October fell $13.75, or 2 percent, to $683.75 a metric ton, PVM data showed. The premium of 180-centistoke fuel oil to 380- centistoke grade, or the viscosity spread, was unchanged at $14.75 a ton. NATURAL GAS Natural gas climbed for a fifth day in New York, the longest run of gains since July 24, on speculation a government report this week will show a smaller-than-normal increase in stockpiles. BASE METALS Copper fell for a second day in London as weaker growth in Australia’s economy added to concern about a global slowdown and the outlook for metals demand. PRECIOUS METALS Gold was set to decline for the first time in four days in London as a stronger dollar cuts demand for the metal as an alternative investment and before European Central Bank policy makers meet. Immediate-delivery bullion fell 0.2 percent to $1,691.73 an ounce by 9:05 a.m. in London. December-delivery futures were 0.1 percent lower at $1,694 on the Comex in New York. GRAINS, OILSEEDS, SOFT COMMODITIES Wheat fell for a fourth day in Chicago as Russia continues to offer cheaper supplies even after drought cut the harvest in last year’s third-largest shipper. The December-delivery contract dropped as much as 0.6 percent to $8.835 a bushel on the Chicago Board of Trade, before trading at $8.8475 at 2:04 p.m. in Singapore. The price has declined 6.6 percent from a near four-year high on July 23. Corn for delivery in December slipped 0.2 percent to $8.035 a bushel. Soybeans for November delivery dropped 0.3 percent to $17.635 a bushel, after the most-active contract surged to a record $17.89 yesterday. Rubber dropped for a second day, falling by the most in three weeks, after a report showed U.S. manufacturing shrank, boosting concern that a global slowdown will cut demand for the commodity used in tires and gloves. February-delivery rubber retreated as much as 3.5 percent, the most since Aug. 14, to 216.5 yen a kilogram ($2,762 a metric ton) on the Tokyo Commodity Exchange. Futures settled at 219.1 yen, extending this year’s loss to 17 percent. Palm oil fell for a second day on concern that inventories in Malaysia, the world’s second-largest producer, may advance to an 11-month high because of a seasonal increase in output. 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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