Oil, copper rise on positive news on US job market

Staff Writer
Columbus CEO

Crude oil and copper prices are rising on the latest positive signs about the U.S. job market.

Both commodities are sensitive to changes in the economic cycle and demand for them tends to increase when the economy is expanding.

Crude oil for January delivery gained $1.59 to close at $95.44 a barrel, the highest closing price this month.

December copper rose 3.2 cents to $3.1915 a pound.

The government reported that the number of Americans applying for unemployment benefits fell last week to the lowest since September.

Gold fell $14.40 to $1,243.60 an ounce. Silver fell 12.4 cents to $19.934 an ounce.

December corn rose 6 cents to $4.23 a bushel, December wheat rose 1.5 cents to $6.4875 a bushel and January soybeans rose 17.75 cents to $12.915 a bushel.