Crude-oil futures climbed higher today as investors anticipate a strong nonfarm payrolls report tomorrow. The November crude contract added $1.50 by the close nearly 2% to settle at $81.44 per barrel. Yesterday, black gold gave back 11 cents to close below $80 after the Energy Department noted an unexpected rise in crude supplies.
Other energy futures joined in the rally. November reformulated gasoline rose 5.64 cents to settle at $2.0522 per gallon, and November heating oil added 5.26 cents to close at $2.2313 per gallon. Natural-gas futures rose 1.85% to end the session at $7.412 per million British thermal units, after the Energy Department reported a smaller-than-expected increase in inventories for the week.
Gold was also on the march higher, boosted by weakness in the U.S. dollar. The December gold contract finished $4.50 higher at $740.20 per ounce, after trading as low as $726.50 earlier in the session. Other metals were mixed copper and silver suffered minor losses, while platinum and palladium collected modest gains.