COMMODITIES

Oil recovered from lows to hover near six-week lows above $86 a barrel on Thursday as a build-up in U.S. oil product stocks and receding geopolitical concerns outweighed OPEC's decision not to increase crude oil production.

Gold futures fell on Wednesday, as the U.S. dollar gained following reports showing strong job growth, lowering demand for the precious metal.

Crude oil fell on Wednesday after a government report showed that U.S. fuel stockpiles rose last week, erasing earlier gains when the Organization of Petroleum Exporting Countries agreed not to boost oil production.

Oil prices were higher amid speculation the Organization of Petroleum Exporting Countries (OPEC) will reject calls for an increase in production.

Crude oil fell more than Tuesday amid expectations that the Organization of Petroleum Exporting Countries may boost production for 2008.

Oil fell more than $1 to stand near $88 a barrel on Tuesday, awaiting a clear signal from OPEC as a chorus of opinion within the exporting group spoke against an output increase.

OPEC's big Gulf producers are leaving open the option of an oil supply increase that could influence whether crude prices head back towards $100 a barrel or not.

Oil plumbed five-week lows below $88 a barrel on Monday as concerns about the health of the U.S. economy extended losses that have cut 10 percent from prices over the past two weeks.

Crude oil rose on Monday ahead on an OPEC meeting tomorrow to decide whether to boost production.

Gold futures rose on Monday following a decline in last weeks trading as weakness in the dollar and falling crude-oil prices prevailed.

Oil prices sank to their lowest in more than five weeks on Monday, a fall that could reduce the chances OPEC will agree to boost oil output at a meeting this week.

Oil bounced back above $89 a barrel on Monday as traders bet last week's nearly $10 selloff was overdone, and might turn the tides against an expected increase in OPEC output when the cartel meets later this week.

Oil fell to a one-month low on Friday on ahead of an OPEC meeting next week where countries will decide about oil output.

Gold futures dropped for the fourth straight day on Friday following a decline in crude-oil prices which reduced the demand for the precious metal.

Gold firmed in narrow ranges on Friday, struggling to recapture the key $800 mark and taking refuge from sharp swings in oil and currency markets.

Oil tumbled more than $2 to a one-month low below $89 a barrel on Friday as attention returned to next week's OPEC meeting that is expected to boost output.

Gold fell on Thursday as the dollar rose, dulling the metal's attraction for non-U.S. investors as an alternative investment.

Crude oil rose on Thursday, following an overnight explosion at a major pipeline which cut Canadian oil supply to consumers in the U.S.

Gold held firm above $800 an ounce on Thursday as oil prices soared, but prices were locked into narrow ranges as a firmer dollar dulled the metal's attraction for non-U.S. investors.

Oil surged more than $4 a barrel on Thursday after an explosion at a major pipeline temporarily halted nearly a fifth of crude oil imports to top consumer the United States.

Crude oil fell 4 percent on Wednesday after a U.S. government report said stockpiles dropped less than expected, reducing worries over supply.

Gold futures dropped nearly 2 percent on Wednesday following gains in the dollar and lower oil prices causing traders to lose appeal for the metal.

Gold slid under the $800 mark in increasingly volatile conditions on Wednesday, as softer oil prices and a firmer dollar against the euro dented the metal's wider appeal for investors.

Oil prices tumbled 4 percent on Wednesday, after a U.S. government report showed crude stockpiles fell less than expected last week, easing supply concerns in the world's top consumer.

Gold dropped on Tuesday, with lower demand for the metal as a hedge against inflation triggered by a drop in energy prices.

Oil fell below $95 a barrel on Tuesday as investors bet that the OPEC exporter group will boost supply for a second time this year at a meeting next week to cool near-record prices.

Oil fell on Tuesday on expectations that OPEC may increase output and following a decline in global stock markets. U.S. oil fell dropped 80 cents to $96.90 a barrel by 11:09 p.m. EST, after shedding more than $1.00 earlier. London Brent crude fell by 61 cents to $94.71 a barrel.

Gold prices rose to a two-week high on Monday following investor concerns over the dipping dollar, soaring oil prices and speculation over further US interest cuts.

Crude oil futures fell on Monday amid expectations that oil cartel OPEC could decide to boost supply at next week.