Oil Futures Tack On 4% To Reclaim $50 Level

Oil futures tacked on more than 4% on Thursday to reclaim the $50-a-barrel level. Traders turned their attention away from the glut in crude supplies to the outlook for energy demand, ahead of the much-anticipated monthly U.S. jobs report due Friday. March crude rose $2.03, or 4.2%, to settle at $50.48 a barrel on the New York Mercantile Exchange after a nearly 9% drop a day earlier.