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Metals, energy futures bounce back

The Associated Press

5/2/2013

Energy and metals futures are ending higher, a day after taking a sharp slide.

The price of crude oil jumped 3 percent Thursday following encouraging news on the jobs front in the U.S. and an interest rate cut in Europe. Both raised hopes that demand for energy could pick up as the global economy strengthens.

Crude oil for June delivery rose $2.96 to settle at $93.99 a barrel in New York. Heating oil and wholesale gasoline futures also rose, while the price of natural gas fell sharply.

In metals trading, gold for June delivery rose $21.40 to $1,467.60 an ounce, an increase of 1.5 percent. Other metals futures also were higher, recovering from a drop on Wednesday.

Crop futures ended mixed.


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