Commodities: Oil and gold both fall as dollar rises

LONDON (ShareCast) - Crude oil levels dropped below the 93 dollar mark on Thursday, largely as a result of strong gains made by the US currency, which was boosted by the release of minutes detailing the Federal Reserve's December meeting.

During the meeting policy-makers indicated that they believed the bond-purchase programmes would operate until December at the latest.

Crude oil fell 0.21% to $92.92 per barrel.

Heating oil also dropped, ending the day down 0.7% at $3.03 per gallon, while natural gas dropped 1.08% to $3.20 per million British thermal units.

Bucking the trend was unleaded gas, which edged 0.09% higher to settle at $2.80 per gallon.

In metals, gold ended the session lower, having made decent gains during the previous two days, hit by the strongly rising dollar.

The February contract for the commodity fell 0.84% to $1,674.60 per troy ounce.

Silver and copper was also both lower, down 0.93% and 0.51% respectively, while platinum gained 0.76% to $1,579.90 per troy ounce.