Commodities Bounced Back (GLD, SLV, USO, UNG, COG, WPZ, EOG),

Commodities bounced back on the last day of the current quarter as equities jumped after three-day fall on strong spending numbers, which came ahead of expectations.Crude oil futures rose 42 cents, or 0.4%, to $103.20 a barrel on the New York Mercantile Exchange. It was not a good week for crude oil as it retreated about 55 in the past three trading sessions as threat of supply disruption from Iran was off set after Saudi Arabia’s oil minister said the kingdom would be able to increase production to challenge high prices.Also, earlier this week, France, the United States and Britain are in negotiations about the possible release of strategic oil stocks to push fuel prices lower, French ministers said, weeks ahead of the country's presidential election.Moreover, on Wednesday the Energy Information Administration reported a rise of 7.1 million barrels of crude in the week ended March 23, well above analysts’ estimates of a rise of 2.75 million barrels.

Among other energy products, natural-gas for May delivery added marginally $2.15 per million British thermal units, after hitting a 10-year low in yesterday’s session. April gasoline rose 1 cent, or 0.4%, to $3.43 a gallon.
Gold futures rose after losing three-day in a row. Gold futures for June delivery added $9.20, or 0.5%, to $1,664.30 an ounce on the Comex division of the New York Mercantile Exchange.

The ICE dollar index also supporting commodities and fell to 78.98 from 79.176 in late North American trading on Thursday.Earlier, personal spending rose 0.8% in February as personal income edged up 0.2%, the Commerce Department said, ahead of economists’ estimates of a rise of 0.4% and spending of 0.7%.
Spending was also revised up to a 0.4% increase for January, double the original estimate, while the increase in income was lowered slightly, to a 0.2% rise.

United States Oil Fund LP (ETF)(NYSEARCA:USO) rose 0.01 (0.03%) at $39.30, United States Natural Gas Fund, LP(NYSEARCA:UNG) fell 0.01 (-0.06%) to $16.20. SPDR Gold Trust (ETF)(NYSEARCA:GLD) surged 0.18 (0.11%)to $161.46, iShares Silver Trust (ETF)(NYSEARCA:SLV) declined -0.03 (-0.10%) to $31.33.

Cabot Oil & Gas Corporation(NYSE:COG) rose over 2% to $30.91 after the company along with Williams Partners L.P.(NYSE:WPZ), are investigating damage at a Pennsylvania natural-gas compressor after a flash fire hit the structure yesterday.

EOG Resources, Inc.(NYSE:EOG) climbed 1% after analyst at Deutsche Bank expects the company to beat expectations and raise production and cash flow estimates when it reports earnings next week.