Brent crude ends at near 3-month high on U.S. jobs, Iran
03/02/2012 at 21:27
NEW YORK, Feb 3 Reuters - Brent crude oil futures rose on Friday for the fourth day in a row and settled at the highest level in nearly three months, as strong U.S. jobs growth in January and a string of upbeat business activity data on both sides of the Atlantic improved prospects for oil demand.
The day's rally was sparked early by a warning from Iran's supreme leader of retalization against the West for sanctions over Tehran's nuclear policies.
In London, ICE Brent crude for March delivery closed at $114.58 a barrel, gaining $2.51, or 2.24 percent, the highest since Nov. 8's settlement at $115. For the week, front-month Brent rose $3.12, or 2.8 percent.
Reporting By Gene Ramos; Editing by David Gregorio
gene.ramos@thomsonreuters.com646-223-6054Reuters Messaging: gene.ramos.reuters.com@reuters.net
Keywords: MARKETS ENERGY CRUDE/BRENT