Energy futures rise broadly as demand increases
NEW YORK (AP) — Energy futures are broadly higher as demand for fuel increases. Metals prices are little changed and crop futures are mixed.
Crude oil briefly traded above $100 a barrel for the first time this year before settling slightly below that level on Friday.
U.S. crude for March delivery rose $2.04, or 2.1 percent, to $99.88 a barrel the New York Mercantile Exchange.
Rising prices for wholesale gasoline and low supplies of heating oil and diesel fuel were helping drive crude prices higher, energy analyst Stephen Schork said.
A rising stock market also helped send crude prices higher as traders anticipated more demand for energy if the economy continues to improve.
Gold edged up $5.70 to $1,262.90 an ounce.
Wheat, corn and soybean futures ended mixed.