Commodities trade thinly after Greece seeks bailout; Oil, gold rally

Commodities trade thinly after Greece taps bailout

NEW YORK — Commodities traded thinly Friday as markets remained wary after Greece sought a bailout package.

Greece asked for a joint rescue package from the International Monetary Fund and its European neighbors. But analysts remainded skeptical that the package will solve Greece’s long-term challenges. Investors are also worried about Portugal’s debt.

Crude oil and gold gained. Oil prices rose following a report of stronger sales of new U.S. homes last month. Benchmark crude for May delivery rose $1.42 to $85.12 per barrel in trading on the New York Mercantile Exchange.

Gold for June delivery rose $10.80 to settle at $1,153.70 per ounce.