Crude futures closed higher today, thanks in part to a well-received report on domestic unemployment claims. This news helped the euro gain ground on the greenback, providing a boost for dollar-denominated commodities. Meanwhile, concerns about potential supply disruptions from Iran continue to support black gold, particularly after today's inventories report showed a steeper-than-forecast drawdown in gasoline stockpiles. By the close, crude oil for April delivery added $1.55, or 1.5%, to settle at $107.83 per barrel -- the contract's latest nine-month high.
Weakness in the dollar was also a boon for gold futures, with the precious metal finding a new year-to-date high in today's trading. Gold for April delivery ended the day up $15, or 0.9%, at $1,786.30 per ounce -- its loftiest perch since Nov. 15.
Levels to Watch in Trading:
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