Crude oil, other commodities rise on US debt deal

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Posted: Wednesday, October 16, 2013 12:00 am | Updated: 5:06 pm, Tue Mar 25, 2014.

(AP) - Crude oil and other commodities are higher after the Senate agreed to a deal that would avoid a U.S. default and reopen the government after a partial shutdown of 16 days.

Oil for November delivery rose $1.08, or 1.1 percent, to $102.29 a barrel on the New York Mercantile Exchange. Most other energy futures rose.

Stocks and bonds rallied after Senate leaders announced they had reached a compromise on extending the government's borrowing authority and reopening the government. Energy futures also rose as a potential threat to U.S. financial markets and the economy appeared to wane.

Gold for December delivery edged up $9.10 to $1,282.30 an ounce. Other metals futures also rose.

Crop futures ended mixed. Wheat and corn edge lower and soybeans rose.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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