U.S. oil prices settle back above $100 a barrel; natural-gas futures rise over 14%

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Oil futures settled higher on Thursday, marking a partial rebound from two consecutive sessions of declines, with U.S. prices climbing back above $100 a barrel. The climb in oil came on the back of a nearly 6% rise in gasoline futures. The Energy Information Administration data showed a healthy rebound in gasoline demand, “easing some recent concerns about demand destruction in gasoline markets,” said Tyler Richey, co-editor at Sevens Report Research. Natural-gas futures, meanwhile, rallied after the EIA reported a smaller-than-expected weekly rise in U.S. supplies. West Texas Intermediate crude for August delivery rose…

This article was originally published by Marketwatch.com. Read the original article here.

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