Energy commodities rebounded on Thursday as market players started to book profits after sharp fall over two previous sessions. The commodity group also found support on news that fire damaged El Palito refinery located in Venezuela. Adding to gains of energy prices, investors continued to monitor persistent tensions in the Middle East.
Crude oil was slightly higher despite larger-than-expected increase in the US crude oil inventories and stronger US Dollar.
Brent oil erased some of the previous losses on supply concerns from Venezuela and slight recovery of the Philly Fed manufacturing index.
Natural gas spiked after the EIA weekly inventory report indicated that natural gas supplies climbed in compliance with market forecasts.
Heating oil soared amid falling US inventories and potential supply threats from Venezuela.