Elsewhere in energy trading, gasoline for February RBG5, -0.37% rose 8 cents, or 6.5%, to settle at $1.3507 a gallon on Nymex. That was gasoline largest one-day percentage increase since July 30, 2009.
February heating oil HOG5, -0.77% added 2 cents, or 1.4%, to $1.6552 a gallon on Nymex. That was heating oil’s largest one-day dollar and percentage gain since Dec. 23, 2014.
Oil rebounded on Wednesday, snapping a three-day losing streak and gaining the most in one day in two and a half years.
Futures traded higher through a surprise increase in weekly inventories and a trouncing in U.S. equities, driven by surprise weakness in December retail sales. Gasoline and natural-gas futures also rallied.
Light, sweet crude futures for delivery in February CLG5, -0.85% gained $2.59, or 5.6%, to settle at $48.48 a barrel on the New York Mercantile Exchange. That was the largest one-day percentage gain since June 29, 2012.
February Brent crude on London’s ICE Futures exchange LCOG5, -1.11% rose $2.10, or 4.5%, to finish at $48.69 a barrel.
March palladium PAH5, +0.32% tumbled $35.05, or 4.3%, to $780.65 an ounce, while April platinum PLJ5, +0.00% platinum dropped $8.80, or 0.7%, to $1,239 an ounce.
