NEW YORK (Reuters) – Brent crude oil surged more than $6 a barrel on Monday, the second-largest gain on record, snapping back from last week’s near record sell-off on a wave of bargain-hunting and a jump in gasoline futures prices.
NEW YORK (TheStreet) — Oil prices rebounded on Friday morning, but it was a momentary respite from the weeklong rout that saw U.S. crude settle below $98 on the week’s last day of trading. After the Thursday sell off that sent crude oil down by 10%, the second-straight day of euro weakness kept oil from clawing its way back above $100, even as U.S. government said more jobs were added than expected in April.
The dollar strengthened as U.S. consumer spending increased more than forecast in February, and after Federal Reserve official James Bullard said the central bank may consider scaling back its monetary stimulus.
BY TOM LAURICELLA AND JONATHAN CHENG, The Wall Street Journal The Japanese yen rocketed to an all-time high against the U.S. dollar on Wednesday but gave back some ground in Asian trading on Thursday, as markets were buffeted by worries about the nuclear crisis in Japan. To read more, visit: http://online.wsj.com/article/SB4.html
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