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Oil inches higher after losses driven by concerns over ample supplies; Metals, crops are mixed
Reported by: Associated Press
Reported: Thursday, October 24, 2013 4:55 PM EDT
Crude oil is posting its first increase this week after China reported an increase in manufacturing.
Oil for December delivery gained 25 cents to close at $97.11 a barrel in New York. It's still down 3.7 percent this week on concerns about large U.S. supplies of oil.
Other energy futures were mixed.
Gold for December delivery rose $16.30 to $1,350.30 an ounce. Silver, platinum and palladium also rose but copper fell.
In agricultural futures, December corn fell 2.5 cents to $4.4025 a bushel. November soybeans fell a quarter of a cent to $13.0975 a bushel and December wheat fell 5.25 cents to $6.965 a bushel.