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Tuesday, 24 December 2013 15:30

Oil, copper rise on positive signs on US economy

NEW YORK (AP) - Crude oil and copper prices are higher following the latest positive signs on the U.S. economy. Increases in orders for manufactured goods and new home sales last month suggested that a pickup in the economy could cause demand for energy and basic building materials to rise. Oil for February delivery rose 31 cents to close at $99.22 in a shortened session on the New York Mercantile Exchange. Trading will be closed Wednesday for Christmas. The actively traded March contract for copper rose 6.65 cents to $3.374 a pound. February gold rose $6.30 to $1,203.30 an ounce. Wheat futures fell slightly, while corn and soybean futures edged higher.