Oil futures jumped 1.4% on Thursday to finish at US$103.01 a barrel on the New York Mercantile Exchange, with Australian Stock Exchange listed producers expected to lift at the open - with further support from the Dow's 2% jump.
Companies to keep an eye on are Woodside Petroleum (ASX: WPL) which closed at $37.50 yesterday, along with Santos (ASX: STO) which will add today to $14.82 Thursday's price.
Crude was supported as the Organization of the Petroleum Exporting Countries reported a drop in output and on renewed concerns out of Libya following the temporary kidnapping of the North African country's prime minister.
Similarly for November contracts, natural gas rose 1.2% to just over US$3.72 per million British thermal units; gasoline increased 2.9% to nearly US$2.70 a gallon; and heating oil rose 1.7% to US$3.07 a gallon.
Brent crude deliveries for November gained slightly more on the day and were up 2.5% to US$111.78 in recent activity on ICE Futures.
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