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January platinum PLF5, +0.58% dropped $4.20 to $1,242.60 an ounce, while March palladium PAH5, -0.29% gained $9.80, or 1.2%, to $821.40 an ounce.
High-grade copper for March delivery HGH5, +0.29% dropped 3 cents, or 1.2%, to $2.89 a pound.
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January natural gas NGF15, -0.05% bucked the trend to rise 5 cents, or 1.5%, to $3.7060 per million British thermal units. Natural-gas futures have gained for two consecutive sessions.
Gasoline for January delivery RBF5, +0.73% fell 8 cents, or 4.8%, to end at $1.6418 a gallon on Nymex. That was gasoline’s lowest settlement since September 2009.
Nymex January heating oil HOF5, +0.90% declined 4 cents, or 1.8%, to finish at $2.0464 a gallon. That was heating oil’s lowest finish since September 2010.
Crude-oil futures on Wednesday ended at a fresh five-year low Wednesday, dragged down by a surprise inventories increase and news the Organization of the Petroleum Exporting Countries cut its 2015 demand expectations for crude.
Light, sweet crude for delivery in January CLF5, +0.85% declined $2.88, or 4.5%, to settle at $60.94 a barrel on the New York Mercantile Exchange. That was oil’s lowest settlement since July 2009.
January Brent crude LCOF5, +0.86% slid $2.60, or 3.9%, to $64.24 a barrel on London’s ICE Futures. That was Brent’s lowest settlement since July 2009 as well.
Gold retreated on Wednesday as investors took profits following a strong run-up in the previous session in response to a global equities meltdown.
Gold for February delivery GCG5, -0.03% slipped $2.60, or 0.2%, to settle at $1,229.40 an ounce. March silver SIH5, -0.16% rose 5 cents to $17.19 an ounce.
Gold’s Wednesday retreat came even as U.S. stocks were being routed amid worries about an oversupply in global oil. Typically, investors seek the safety of gold during times of steep declines in equities.
