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10/05/2010 00:00 AST
Crude oil prices inched up Monday, as global investors welcomed the news that European Union leaders agreed on a $900 billion bailout plan for Greece.
Crude for June delivery rose $1.69 or 2.25%, settling at $76.80 a barrel Monday.
Meanwhile, gasoline prices fell for the fourth day in a row, slipping to $2.908 a gallon from $2.914 the day before.
The price of crude rose along with global markets Monday after the EU and the International Monetary Fund approved a $900 billion rescue plan for debt-strapped European countries. In a separate show of support, the U.S. Federal Reserve joined central banks in Canada and Europe to re-establish a program supporting credit markets.
The European Central Bank also announced overnight it will buy government and private bonds to rescue the euro.
The news boosted optimism in Europe, giving investors two incentives to buy oil. A recovering European economy could boost demand for fuel, and second, more euros circulating could make a tangible commodity a more attractive investment than paper currencies.
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CNNMoney
| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Brent | 66.32 | -0.09 | -0.14 |
| WTI | 63.35 | -0.47 | -0.74 |
| OPEC Basket | 68.91 | -0.58 | -0.83 |
22/08/2025
Oil prices rose on Thursday, bolstered by signs of strong demand in the United States, with uncertainty over efforts to end the war in Ukraine also lending support.
Brent crude futures were
Reuters
21/08/2025
Iraq has signed an agreement in principle with US oil major Chevron for the Nassiriya project, which includes four exploration blocks, reports said.
Iraqi Prime Minister Mohammed Shia Al-Su
Trade Arabia
20/08/2025
Oil prices slipped on Tuesday as market participants contemplated possible three-way talks involving Moscow, Kyiv and Washington to end the war in Ukraine, which would likely lead to the lifting of s
Reuters
19/08/2025
Oil prices were little changed on Monday as investors awaited talks between the US and Ukrainian presidents after an inconclusive US-Russia summit in Alaska on Friday
Brent crude futures ros
Arab News
15/08/2025
Oil prices nudged higher on Friday to fresh one-week highs after US President Donald Trump warned of "consequences" if Russia blocked a Ukraine peace deal, injecting concerns about supply.
Reuters
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