Crude-oil futures rose more than 2% on Tuesday, as some optimism about curtailing output seemed to permeate markets and ahead of a fresh weekly report on stockpiles.
Light, sweet crude futures for delivery in March CLH5, -1.32% rose $1.08, or 2.4%, to settle at $46.23 a barrel on the New York Mercantile Exchange.
Brent crude for March delivery LCOH5, -1.03% added $1.44, or 3%, to $49.60 a barrel on London’s ICE Futures Exchange. Futures earlier hit an intraday low at $47.67 a barrel, and traded as high as $49.99 a barrel.
In other metals, platinum for April delivery PLJ5, -0.10% climbed $9.30, or 0.7%, to $1,264.30 an ounce, while palladium for March delivery PAH5, -0.35% fell $1.10, or 0.1%, to $780.75 an ounce.
High-grade copper for March delivery HGH5, +0.45% fell 8 cents to $2.46 a pound.
Gold futures added to modest gains Tuesday, after a sharp, unexpected fall in U.S. durable-goods orders hit stocks and triggered demand for havens.
Gold for February delivery GCG5, -0.12% rose $12.30, or 1%, to $1,291.70 an ounce, while March silver futures SIH5, -0.55% gained 10 cents to $18.08 an ounce.
