Palladium price rises to highest since 2011


Palladium prices rose sharply Friday as traders feared that continuing tensions with Russia could result in fewer exports of the metal.

The actively traded June contract for the metal jumped $17.65, or 2.3 percent, to settle at $789.30 an ounce. That's the highest price since September 2011.

Traders fear that Western sanctions against Russia could obstruct exports of the metal. Russia is a major producer of palladium, which is used in products including catalytic converters for automobiles.

Other metal prices were mixed.

Gold for April delivery rose $5.50 to $1,336 an ounce. May silver fell 12 cents to $20.31 an ounce, May copper rose 2 cents to $2.95 a pound and April platinum rose $1.20 to $1,436 an ounce.

Benchmark U.S. crude for May delivery rose 56 cents at settle at $99.46 a barrel.

In other energy trading, wholesale gasoline added 1.2 cents to $2.91 a gallon, heating oil edged up 0.1 cent to $2.92 a gallon and natural gas fell 5.6 cents to $4.31 per 1,000 cubic feet.

Agricultural commodities were mixed.

Wheat for May delivery fell 10 cents to $6.93 a bushel and soybeans for delivery in the same month fell 25 cents to $14.09 a bushel. May corn edged up half a cent to $4.79 a bushel.

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