U.S. crude-oil futures gained more than 4% Monday, recovering from five-year lows hit last week after OPEC decided to maintain production levels.
Light, sweet crude for January delivery CLF5, -0.74% rose $2.85, or 4.3%, to settle at $69 a barrel on the New York Mercantile Exchange. That was oil’s largest percentage gain since August 2012, snapping a four-session losing streak.
January Brent crude LCOF5, -0.62% on London’s ICE Futures exchange rose $2.39, or 3.4%, to finish at $72.54 a barrel. That was Brent’s highest percentage gain since October 2012, and the gains put a stop to a five-session decline.
January platinum PLF5, -1.03% was up $30.30, or 2.5%, to $1,241.60, an ounce, while March palladium PAH5, -0.36% was off $5.20, or 0.6%, to $808.10 an ounce.
High-grade copper for March delivery HGH5, -0.60% gained 5 cents, or 1.8%, to $2.90 a pound.
Gold futures soared Monday, reclaiming the $1,200 level for the first time since late October.
The increase in the yellow, precious metal, viewed as a haven asset, was spurred, in part, by a downgrade of Japan’s sovereign debt rating and a retreat in the dollar.
Gold for February delivery GCG5, -1.03% jumped $42.60, or 3.6%, to settle at $1,218.10 an ounce. The last time the precious metal closed above $1,200 was on Oct. 29. Meanwhile, March silver SIH5, -2.20% surged $1.14, or 7.3%, to $16.69 an ounce.