| Oil prices surged to their biggest gains in two months on signs of rising demand in both the U.S. and Asia. Light, sweet crude for May delivery rose $3, or 6.1%, to $52.14 a barrel on the New York Mercantile Exchange. It was the U.S. benchmark’s biggest day of gains since Feb. 3 and its highest settlement since Feb. 17.
Data provider Genscape Inc. reported that supplies in Cushing, Okla., a key storage hub and the delivery point for the benchmark U.S. futures contract, fell by nearly 300,000 barrels between March 31 and April 3, according to a broker...............................................Full Article: Source
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