Crude-oil futures ended higher, halting five consecutive sessions of losses, after U.S. jobless claims unexpectedly fell while the economy expanded at a faster pace last quarter.
The turnaround is good news for Australian producers such as Woodside Petroleum (ASX: WPL) and Santos (ASX: STO), which may find some support today when the market opens.
Crude oil for November delivery inched up 0.4 percent to finish at $103.03 a barrel on the New York Mercantile Exchange.
A Labor Department report said that jobless claims decreased by 5,000 to 305,000 last week. Gross domestic product grew at a 2.5 percent annualized rate, compared with 1.1 percent in the first quarter, Commerce Department figures showed.
Moving to the metals markets, gold futures closed lower, surrendering much of their recent gains with the market digesting a deluge of economic data, including a decline in U.S. pending home sales and jobless claims.
Traders continued to watch for a potential U.S. government shutdown that might spur safety bids.
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