Crude oil futures are higher this morning, with nearby contracts trading at their highest levels in two weeks as an early cold snap in Europe fuels speculation of increased demand of heating and motor fuels. Crude for January delivery currently is fetching $84.58 a barrel, up $0.78, after earlier poking through $85 a barrel during NYMEX electronic trading. Traders reportedly were bidding up oil as subfreezing temperatures and snow spread through large parts of Europe, raising the prospect of more consumption. Gains were limited, however, by the U.S. dollar rising in value compared with the Euro, following weekend efforts to resolve the Irish banking crisis. Natural gas futures also are higher this morning although ADR's of Royal Dutch Shell (RDS.A) were down about 1.4% in U.S. pre-trade following reports the company is preparing to sell 400 "mature" gas wells in south Texas, according to the Wall Street Journal. Gold is marginally higher, gaining about $0.80 to $1362.40 this morning after trending lower throughout much of Friday's floor session at the NYMEX. Bullion briefly flared to $1366 with about an hour left in the day but again faded at the close and continued a choppy pattern overnight and today. Copper and silver also were firmer this morning along with most grains in the agricultural segment. Coffee is lower, however, sliding about 0.5% today as traders appear to be pocketing some profits after futures reached some of their highest levels in years.

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