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Oil rockets more than 6% on signs of fading U.S. output. Exxon plant on fire pushing prices higher. Oil futures are on track for strong weekly gains. Data earlier this week showed an unexpected drop in crude inventories and a strong rise in demand from refiners.
Gold books a gain as dollar tumbles versus yen. Gold prices finished sharply higher Thursday, coinciding with a meltdown for the U.S. dollar against the yen.
Gold’s climb follows Wednesday’s release of minutes from the Federal Open Market Committee’s March meeting, which affirmed reluctance by the Fed to lift interest rates at their next meeting at the end of April.