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Energy Soars As Storm Heads East; Wheat, Sugar Gain More Ground.(B)(FUTURES)
By Reuters
Crude oil prices surged more than a dollar a barrel on Friday to close the lasttrading day of the year on a high note amid forecasts of a huge snowstorm headed for the U.S. Northeast, a big heating oil consumer.
F U T U R E S
In other featured commodity trading, palladium posted a mild gain to remain in the stratosphere while gold ended the year with a whimper. Wheat and sugar bothfinished up 2000 with a flourish.
At the New York
Mercantile Exchange, crude oil for February delivery rose 95 cents at $26.80 a barrel. After pushing to a 10-year high of $37.80 in September, crude settled back just above where it ended in 1999 at $25.60.
The leader of the petroleum complex remained heating oil, which has risen both on tight supplies and on the record highs seen in natural gas, a competing fuel. February heating oil closed 3.16 cents higher on Friday at 89.09 cents a gallon.
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