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Commodities: Prices approach highest levels in nearly a year

Commodities were higher almost across-the-board and trading at their dearest in almost a year as the Greenback gave back ground.
The Bloomberg commodity index jumped 0.51% to 88.76 - versus a 52-week high of 89.47 - as the US dollar spot index continued to move lower, erasing 0.65% to finish at 90.38.

Gains of 0.79% in West Texas Intermediate for next month delivery to $64.81 a barrel were a tad conspicuous, coming as it did on the heels of Baker Hughes reporting that the US oil rig count increased by 10 last week.

All the other main energy and metals contracts were bathed in green by the end of tradingm save for NYMEX February 2018 natural gas, which was 2.16% lower to $3.13/MMBtu.

Over on the LME, all the main base metals contracts were higher, with three-month copper futures risiing from $7,131 per metric tonne to end at $7,210.

In parallel, February gold futures on COMEX gained 0.42% to $1,340.50/oz..

Both the CBoT and CME remained closed on Monday in observance of the Martin Luther King Jr. holiday.