Energy Finds Lift from ISM data
by Trey Cowan
|Monday, April 02, 2012
Broader markets and the energy complex rallied throughout Monday. News from the Institute of Supply Management that March's factory index gained a point over last month's level had the markets humming a happy tune.
Both Brent and WTI finished more than two dollars higher than where they started the trading day. On the NYMEX, front-month contracts for light, sweet crude gained $2.21 to $105.23 per barrel. May futures for Brent finished up $2.55 settling at $125.43 per barrel.
Gasoline prices also jumped higher. May reformulated gasoline blendstock added 7 cents to finish at $3.38 per gallon.
Even sickly natural gas found a spark pushing it 3 cents higher to settle at $2.15 per MMBtu.
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