Oil exchange traded funds (ETFs) rallied in afternoon trading Thursday as crude futures jumped over $110 a barrel.

U.S. Oil Fund (NYSEArca: USO) was up 1.3% at last check as crude traded higher and investors continued to watch the conflict in Libya.

The oil ETF came into Thursday’s session up 15% over the past three months. [Oil, Metals Lead Commodity Rally.]

A better-than-expected report on U.S. jobless claims helped drive oil Thursday, MarketWatch reported.

U.S. Oil Fund

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