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Updated from 2:33 p.m. EDT
Crude had its highest close ever Friday, as chart-related speculation and robust demand for distillates and gasoline continued to feed a rally.
The August crude contract closed up 42 cents to $59.84 a barrel on Nymex after briefly eclipsing $60 for a second straight session. Gasoline futures held at $1.65 a gallon.
Bulls have bid up the contract since Wednesday, when an Energy Department update showed surprisingly strong U.S. demand for distillates, including heating oil and diesel. The report showed a higher-than-expected 7% jump in demand for distillates compared with a year ago, and a 3.4% jump in jet-fuel demand. The latter is sometimes viewed as a proxy for economic activity. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,471.50 | 1,106.41 | 2,190.31 | 35.40 |
Oil *
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UP
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