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U.S. markets recover from steep losses
NEW YORK, March 5 (UPI) -- Crude oil prices topped $81 a barrel Friday on the New York Mercantile Exchange, closing at $81.50 a barrel, up $1.29 for the trading session.
Analysts said the higher price was boosted by U.S. jobs data and positive comments from Chinese officials about economic growth, MarketWatch reported.
"In addition to the jobs data, which was supportive, we also have the specter of geopolitical concerns in the market," said Bill O'Neill, managing partner at Logic Investment Services.
The Labor Department said the nation's unemployment rate held steady at 9.7 percent.
Also on Friday, Chinese Prime Minister Wen Jiabao told the Chinese Legislature he would maintain an 8 percent growth rate for the economy this year, MarketWatch said.
Gasoline and heating oil futures also closed higher after starting the day at $2.2624 per gallon for gasoline and $2.0874 per gallon for heating oil.
Natural gas for April delivery added 1.8 cents, to close Friday at $4.593 per million British thermal units.
At the pump, the national average price of unleaded gasoline was $2.72 per gallon, up from Thursday's $2.706, AAA said.
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