NYMEX-Crude jumps to end at highest since 2008

U.S. crude oil futures prices jumped more than 1 percent to its highest close in 2-1/2-years as supportive U.S. jobs data reinforced economic growth expectations and as Libya’s conflict and Middle East unrest kept investors wary of threats to supply.

ICE Brent front-month May crude LCOK1 also ended at a 2-1/2-year high settlement and pushed to a May contract peak of $119.14 in post-settlement trade. Brent’s 2-1/2-year intraday front-month peak of $119.79 was struck on Feb. 24. U.S. nonfarm payrolls registered solid growth for a second month in March and the jobless rate hit a two-year low of 8.8 percent, helping fuel optimism about oil demand. Geopolitical supply risks also had oil traders wary, as Libya’s conflict and Middle East unrest persist.