Crude oil futures eked out a modest increase on Monday, ahead of the start of the first quarter earnings season, which kicks off on Tuesday with aluminium maker Alcoa's quarterly results.

Crude oil for February delivery rose 10 cents to settle at $93.19 a barrel on the New York Mercantile Exchange, the highest settlement in over two months.

Oil prices were boosted last week by an Energy Information Administration report that showed a much bigger than expected draw on crude supplies in the week ended December 28th.

However data out this week is expected to show crude stockpiles to have risen while the EIA is also expected to issue its monthly short-term energy outlook report on Tuesday.

Among precious metals gold eased 0.2% on Monday as traders remained preoccupied with comments from the last Federal Reserve meeting that its bond buying programme may come to an end as early as this year.

Gold for February delivery retreated $2.60 to settle at $1,646.30 an ounce on the Comex division of the New York Mercantile Exchange.

March silver rose 14 cents to finish at $30.08 an ounce while March copper lost almost 2 cents to $3.68 a pound.

March palladium dropped $18.50 to $670 an ounce while platinum for April delivery eased $2.20 to $1,556.30 an ounce.


CJ

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