U.S. oil prices settle back above $100 a barrel; natural-gas futures rise over 14%

Oil futures settled higher on Thursday, marking a partial rebound from two consecutive sessions of declines, with U.S. prices climbing back above $100 a barrel. The climb in oil came on the back of a nearly 6% rise in gasoline futures. The Energy Information Administration data showed a healthy rebound in gasoline demand, “easing some recent concerns about demand destruction in gasoline markets,” said Tyler Richey, co-editor at Sevens Report Research. Natural-gas futures, meanwhile, rallied after the EIA reported a smaller-than-expected weekly rise in U.S. supplies. West Texas Intermediate crude for August delivery rose $4.20, or 4.3%, to settle at $102.73 a barrel on the New York Mercantile Exchange. August gasoline settled at $3.4204 a gallon, up 18 cents, or 5.7%. August natural gas added 79 cents, or 14.3%, to end at $6.297 per million British thermal units.

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