Brent crude futures for January settled at $95.82 a barrel on Thursday, Nov. 12, up $3.06, or 3.3 percent, CNBC reported, citing Reuters. Brent had settled at $92.76 on Wednesday, according to Reuters.

West Texas Intermediate for December settled at $88.74 a barrel, up $2.21, or 2.6 percent. WTI had settled at $86.53 on Wednesday.

The gains did not erase the week. Both benchmarks were still down about 2.5 percent for the week, Reuters reported. For November, WTI was down 16 percent and Brent down 20 percent, according to CNBC.

Thursday's gain was larger on Brent than on WTI, $3.06 against $2.21 a barrel. In the stock market, the S&P 500 energy sector rose 1.5 percent, its fourth straight gain and the best of the index's 11 sectors, Reuters reported.

The session

Oil sold off early on Thursday, then rebounded, Reuters reported. The rebound followed a claim by Yemen's Houthis that they had attacked a pumping station on the Saudi East-West pipeline, an oil facility in Yanbu and an Aramco building in Riyadh, according to Reuters.

President Trump wrote on Truth Social: "We don't need a deal with Iran. Those days have long since passed. We've got their money, Hundreds of Billions of Dollars, and we've got their Strait!" CNBC reported.

An OPEC report earlier showed Middle East output recovering to near pre-war levels in October, DTN reported, via Invested Alpha.

Jeffrey Currie of Real Macro told CNBC that near-term oil prices are tame because substantial volume is coming out of the Middle East. He said insurance and tanker rates are keeping longer-dated contracts elevated.

Gas and refined products

December natural gas rose 3.89 percent to $3.340 per million British thermal units, The Edge reported. RBOB gasoline rose 2.43 percent to $2.6708 a gallon. Heating oil rose 1.79 percent to $4.2865 a gallon.

Gold and other metals

COMEX gold for December settled at $3,885.30 an ounce on Thursday, down $115.20, or 2.88 percent, according to The Edge, citing dpa-AFX and RTTNews. It was gold's third straight decline.

Gold touched its lowest level in more than a year during the session, BigGo reported. Higher Treasury yields weighed on the metal, Investing.com reported, via Invested Alpha. The 10-year Treasury yield rose 11.58 basis points to 5.105 percent on Thursday, Reuters reported.

Other metals settled lower, according to The Edge:

  • Silver fell 3.72 percent to $50.065 an ounce.
  • Copper fell 1.49 percent to $6.1960 a pound.
  • Palladium fell 5.22 percent to $991.50 an ounce.
  • Platinum fell 1.18 percent to $1,520.40 an ounce.

Friday in Asia

Crude eased in Asian trading on Friday, Nov. 13. WTI was down 0.6 percent at $88.25 a barrel, and Brent was down 0.1 percent at $95.70, AFP reported. Those are trading prices, not settlements.

Thursday's settlements stand as the last closing prints: Brent at $95.82, up from $92.76, and WTI at $88.74, up from $86.53. Gold settled at $3,885.30, below $3,900.