Oil futures jump nearly 14% for the month

Oil futures edged higher on Thursday, with prices ending the month of March nearly 14% higher—their best monthly performance in almost a year.

West Texas Intermediate crude oil for May CLK6, -0.50%  tacked on 2 cents to settle at $38.34 a barrel on the New York Mercantile Exchange. Prices, based on the most-active contracts, were about 13.5% higher for the month, according to FactSet data. That was the largest monthly climb since April 2015. Prices were up about 3.5% for the first quarter of the year.

On its expiration day, May Brent LCOK6, +0.79% added 34 cents, or 0.9%, to $39.60 a barrel on London’s ICE Futures exchange. Prices were roughly 8% higher for the quarter, based on the most-active contracts.

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