Comex Market Update

Crude-oil futures settled with a more than 4% gain to reclaim the $50-a-barrel level on Thursday, as better-than-expected jobless claims data in the U.S. and a higher economic growth forecast for the European Union helped improve the outlook for energy demand.

On the New York Mercantile Exchange, March crude CLH5, +1.41% rose $2.03, or 4.2%, to settle at $50.48 a barrel. Prices lost more than double that amount in the previous session.

Brent crude LCOH5, +0.88%  rose $2.41, or 4.5%, to end at $56.57 a barrel on London’s ICE Futures exchange.