Crude Oil, Natural Prices Spike

Crude oil futures rose sharply along with natural gas, as the first winter cold spell of the year raised demand prospects.

Midwest storms caused heating fuel supply interruptions from Texas and New Mexico, analysts say.

Nymex February oil futures ended 2.9% higher at $37.87 a barrel, rising further from recent 6-year lows near $35. Natural gas futures jumped 5%, trimming steep recent losses.

Upbeat U.S. economic news helped. Standard & Poor’s released a report showing that home prices in major metropolitan areas rose more than expected in October.

The report said the S&P/Case-Shiller 20-City Composite Home Price Index climbed 0.8 percent in October after rising by a revised 0.5 percent in September.

The material has been provided by InstaForex Company –