Sunday, May 10, 2009

Crude Oil Gains On Economic Data

Crude oil prices gained on Friday on better than expected economic data.Crude oil rose to highest level since November after reports showed that the US cut fewer jobs than forecast.Crude oil for June delivery rose $1.92 to settle at $58.63 a barrel on the New York Mercantile Exchange.Gold for June delivery fell 60 cents to settle at $914.90 an ounce.Gasoline futures for June gained 2.4 percent to $1.7055 a gallon.Dollar fell versus the euro and the yen.

FTSE 100 index gained 1.44 percent to 4462.09,Germany's DAX closed up 2.29 percent to 4913.9,France's CAC 40 rose 1.88 percent to 3312.59.

US Markets closed higher with Dow Jones gained 164.80,or 1.96 percent , to 8,574.65. Nasdaq composite index gained 22.76, or 1.33 percent, to 1,739.00.Standard & Poor's 500 index rose 21.84, or 2.41 percent, to 929.23.