US
crude oil futures after a day of break once again ended higher on
Thursday as the dollar weakened against a basket of major currencies on
some upbeat job claims from the US. The Labor Department said that
initial jobless claims fell to 332,000, a decrease of 10,000 from the
previous week's revised figure of 342,000. Separate reports showed that
producer price inflation in the US rose in line with expectations in
February. Though, the gains were limited as concerns over the global
economic outlook remained ahead of the European Union’s two day economic
summit in Brussels.
Benchmark crude oil futures
for April delivery, gained $0.51 or 0.6 percent to close at $93.03 a
barrel after trading in a range of $93.02 and $92.01 a barrel on the New
York Mercantile Exchange. In London, expiring Brent crude futures for
April delivery, rose 86 cents to $109.38 on the ICE.
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