Oil futures soared on Friday. West Texas Intermediate crude registered its best one-day percentage gain in about seven years. On Friday, WTI crude for March delivery CLH6, +10.72% jumped by $3.23, or 12.3%, to settle at $29.44 a barrel on the New York Mercantile Exchange, rebounding from a nearly 13-year low a day earlier. Prices, based on the most-active contracts, haven’t settled with percentage gain that high since January of 2009, according to FactSet data. April Brent crude LCOJ6, +8.62% also gained $3.30, or 11%, to end at $33.36 a barrel. So what was behind the latest move? Analysts offered 4 key reasons: 1). ... (full story)