Commodities

Crude oil gained on concern the U.S. supply of gasoline would be threatened by refinery halts and latest disruptions of production in Africa. Crude oil for June delivery rose 37 cents, or 0.6%, to $62.18 a barrel in after-hours electronic trading on the New York Mercantile Exchange. Brent crude oil for June settlement rose 62 cents, or 0.9%, to $66.41 a barrel in electronic trading on the ICE Futures exchange.

Gold advanced in London after some investors judged that prices, which ended at a five-week low yesterday, no longer reflect expectations for a third consecutive year of declining supply. Gold for immediate delivery gained $2.38, or 0.4%, to $668.03 an ounce. Silver dropped 2 cents to $13.015 an ounce, heading for a fourth weekly decline.

Currencies

The euro and the pound retreated from recent highs against the dollar in morning trading Friday, as lack of surprise over interest rate moves in Britain, Europe and the United States boosted the U.S. currency. The euro bought $1.3477 in morning European trading, compared with the $1.3508 it bought in New York late Thursday. The British pound slipped to $1.9784 from $1.9823 the night before even though the Bank of England lifted its key interest rate by a quarter of a per cent to 5.5%. The dollar rose to 119.86 Japanese yen from 120.44 yen the night before.