Crude-oil futures settled with a more than 4% gain to reclaim the $50-a-barrel level on Thursday, as better-than-expected jobless claims data in the U.S. and a higher economic growth forecast for the European Union helped improve the outlook for energy demand.
On the New York Mercantile Exchange, March crude CLH5, +1.35% rose $2.03, or 4.2%, to settle at $50.48 a barrel. Prices lost more than double that amount in the previous session.
Elsewhere in metals trading on Comex Wednesday, platinum for April delivery PLJ5, +0.34% edged up by $10.80, or 0.9%, to end at $1,249.70 an ounce, while March palladium PAH5, -0.01% added $5.50, or 0.7%, to $795.70 an ounce.
High-grade copper for March delivery HGH5, +0.31% ended nearly flat at $2.595 a pound.
Gold futures settled lower on Thursday, but held ground above $1,260 an ounce as traders await key U.S. employment data due this week for hints on demand for metals.
Gold for April delivery GCJ5, +0.28% shed $1.80, or 0.1%, to settle at $1,262.70 an ounce after gaining $4.20 on Wednesday. March silver SIH5, +0.43% lost 20 cents, or 1.1%, to $17.196 an ounce.
