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Metals slump after dollar rallies on ECB comments

Published on NewsOK Modified: February 7, 2013 at 4:06 pm •  Published: February 7, 2013
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Draghi also said the risks for the European economies that share the euro continue to be on the "downside." Copper, which has many industrial uses and tracks global economic growth, fell. March copper dropped 1.35 cents, or 0.4 percent, to $3.7270 a pound.

Oil also fell as the dollar strengthened. Benchmark crude dropped 79 cents, or 0.8 percent, to $95.83.

In grains trading, wheat for March delivery fell 5.5 cents to $7.56 a bushel. Corn for March also dropped, falling 11.75 cents to $7.1075 a bushel.

Soybeans for March delivery dropped a fraction of a cent to end at $14.8675 a bushel.

In other energy trading, wholesale gasoline for March fell 3.98 cents to $2.9999 per gallon. Natural gas for the same month fell 13 cents to $3.2850 per 1,000 cubic feet. Heating oil for March gained 1.37 cents to finish at $3.1995 a gallon.