Oil futures settled with a gain of more than 3% on Thursday, with U.S. prices briefly topping the $50-a-barrel level for the first time since July.Prices found support as Russian military operations in Syria raised the risk of oil-flow disruptions in the region, and minutes from the U.S. Federal Reserve’s policy meeting implied a further delay in higher interest rates.
November West Texas Intermediate crude CLX5, +0.34% settled at $49.43 a barrel on the New York Mercantile Exchange, up $1.62, or 3.4%, after tapping a high above $50 following the Fed meeting minutes. Prices haven’t settled above $50 since July.
Brent crude LCOX5, +0.45% the global oil benchmark, rose $1.72, or 3.4%, to $53.05 a barrel on London’s ICE Futures exchange.
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