Crude Prices Rise on Positive Economic News, Surging Equities

摘要

May Nymex crude gained $2.86 to $52.24 per barrel on Thursday. Traders said prices moved up on surging equities after broader market news showed encouraging signs for the economy. May Brent on ICE Futures settled $2.47 higher at $54.06/bbl. Equities were inspired by better-than-anticipated results in the banking sector and a decrease in jobless claims. Crude oil appeared to follow the resulting upswing early on and remained at the higher level through the session. "At least on Wall Street the news is good and the market is rallying in sympathy," said Andrew Lebow, a broker at MF Global.