Oil futures rose above $50 a barrel early Thursday, extending their gains from the previous session. Crude oil for May delivery rose $1.41, or 2.9%, to $50.79 a barrel on Globex. "The proximity of this psychologically important level [$50 a barrel], rising equity markets and a smaller-than-feared increase in U.S. oil inventories have given the [oil] price a boost," said analysts at Commerzbank.
