* Oil jumps 2 percent after Iran, Israel exchange verbal
volleys
* Weak dollar helps metals, coffee
* Corn, wheat fall sharply ahead of USDA stocks report
By Barani Krishnan
NEW YORK, Sept 27 (Reuters) – Oil prices surged on Thursday
as tensions between Iran and the West stoked concerns over crude
supply, while a weaker dollar helped metals and soft commodities
rebound from the sharp selloff of the previous session.
Grains markets bucked the trend after technical selling and
fund liquidation ahead of a government stocks report pressured
prices. Corn fell for a fourth straight day, hitting a
three-month low, and wheat sank to a 2-1/2-month bottom.
Gold rose more than 1 percent, on track for its biggest
daily gain in two weeks.
Iran and Israel fired verbal volleys that sent fear into
energy markets, helping oil prices chart their highest one-day
gain in nearly two months.
Risk appetite grew in other commodity markets as the euro
rebounded from a two-week low against the dollar after Spain
unveiled its 2013 budget.
Continued…
