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Nymex gasoline for December RBZ4, +1.55% rose nearly 3 cents, or 1.4%, to $2.0565 a gallon. On the week, gasoline gained 0.7%.
December heating oil HOZ4, +1.05% rose 2.45 cents, or 1%, to $2.4045 a gallon. The commodity declined 0.5% on the week, however.
The U.S. stock market ended the week in rally mode Friday. Sparked by a surprise dose of liquidity measures launched by China’s central bank and dovish comments from European Central Bank President Mario Draghi on Friday, U.S. equities recorded their fifth-straight week of gains.
The S&P 500 SPX, +0.52% closed 10.75 points, or 0.5% higher at 2,063.50, with broad-based gains led by materials and energy sector stocks. The benchmark index gained 1.2% over the week.
Crude-oil futures got a big bump Friday after the People’s Bank of China announced a surprising swath of interest-rate cuts intended on boosting its economy.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in January CLF5, +1.15% rose 66 cents, or 0.9%, to settle at $76.51 a barrel. On the week, crude gained 0.9%, snapping a seven-week losing streak.
January Brent crude on London’s ICE Futures exchange LCOF5, +1.30% gained $1.03, or 1.3%, to end at $80.36 a barrel. On the week, Brent gained 1.2%, ending an eight-week losing stretch.
Gold prices climbed on Friday, reacting to dovish comments from European Central Bank President Mario Draghi and a surprise rate cut from China’s central bank.
Copper and other industrial metals also advanced as investors bet that China’s stimulus efforts will lead to more demand for those commodities from one of the world’s largest economies.
Gold for December delivery GCZ4, +0.89% settled at $1,197.70 an ounce, gaining $12.10 or 0.6% for the day. The contract traded above the $1,200 level that some traders watch closely, but wasn’t able to settle above that mark. December gold advanced 1% for the week.
Silver SIZ4, +1.78% jumped 26 cents, or 1.6%, to settle at $16.40 an ounce, advancing 0.2% for the week.
MALAYSIAN shares ended lower on Friday with the Kuala Lumpur Composite Index slipping 13.16 points to close at 1,809.13.
Some 1.77 billion lots, valued at RM1.66 billion were traded. Gainers numbered 295 while losers numbered 464.
