Oil prices rose sharply Thursday despite more hints that energy use is way down, with traders focusing instead on a rising stock market and surprising news from retailers that suggests Americans are spending money.
Benchmark crude for May delivery rose nearly 6 percent, or $2.86 to settle at $52.24 a barrel on the New York Mercantile Exchange.
"A lot of little things are giving investors hope that maybe the economy has seen the worst," said Andrew Lebow, senior vice president and broker at MF Global.
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