Oil Climbs 1.5 Percent on Lower U.S. Jobless Claims

Bloomberg reported that oil surged 1.5 percent as U.S. jobless claims went down.

As quoted in the market news:

Crude oil for April delivery gained $1.55, or 1.5 percent, to $107.83 a barrel on the New York Mercantile Exchange, the highest settlement since May 4. Oil has risen 9.9 percent in the past year.

Click here to read the full Bloomberg report.