U.S. stocks rallied on Thursday, sending the S&P 500 to its highest close this year and within shouting distance of the record close reached on Dec 29.
The S&P 500 SPX, +0.96% added 19.95 points, or 1%, to 2,088.48, with eight of its 10 sectors finishing higher. Among them, materials, technology and energy sectors stocks led the gains, while utilities and telecoms were the only laggards.
Natural-gas prices finished lower after a three-session climb as a U.S. report on weekly supplies showed a decline that was a bit less than expected.
March natural gas NGH15, +0.85% fell 8.4 cents, or 3%, to end at $2.713 per million British thermal units.
Back on Nymex Thursday, prices for March gasoline RBH5, +0.94% tacked on 5.2 cents to $1.596 a gallon, while March heating oil HOH5, +0.93% settled at $1.914 a gallon, up almost 10 cents.
Oil futures settled higher on Thursday as an agreement to halt months of deadly fighting in Ukraine helped ease concerns over Russian oil demand, but the continuing supply glut in the U.S. kept price gains in check.
Crude-oil futures for delivery in March CLH5, +1.02% rose $2.37, or 2.4%, to settle at $51.21 a barrel on the New York Mercantile Exchange.
On its final trading day as a front-month contract on London’s ICE Futures exchange, March Brent crude LCOH5, +4.39% rose $2.39, or 4.4%, to end at $57.05 a barrel.