Oil Market Update

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.

No comments:

Post a Comment