Oil futures climbed back above the key benchmark of $50 a barrel on Thursday, buoyed by traders who speculated that the United Kingdom would remain as a member of the European Union, according to Bloomberg MarketWatch.
August West Texas Intermediate crude increased by 98 cents, or 2%, to end trading at $50.11 a barrel on the New York Mercantile Exchange.
On London’s ICE Futures Exchange, August Brent crude, the global benchmark, rose $1.03, or 2.1%, to settle at $50.91 a barrel.
Both WTI and Brent marked their highest futures settlements since June 9, according to the Bloomberg report.
Meanwhile, July natural gas rose 2.1 cents, or 0.8%, ended trading on the New York Mercantile Exchange at $2.698 per million British thermal units.