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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 | 64.36 | 0.04 | 0.06 |
| WTI | 60.7 | 0.01 | 0.02 |
| OPEC Basket | 65.48 | -0.34 | -0.52 |
14/10/2025
The Organization of the Petroleum Exporting Countries (OPEC) on Monday maintained its relatively high forecast for global oil demand growth for this year and next. However, it noted that the oil mar
QNA
14/10/2025
World oil supply is expected to closely match demand next year as the wider OPEC+ group increases production, an OPEC report showed on Monday, marking a change from last month's outlook, which projec
Reuters
13/10/2025
Oil prices rose on Monday after hitting five-month lows in the previous session, as investors hoped potential talks between the presidents of the US and China could ease trade tensions between the wo
Asharq Al Awsat
10/10/2025
Oil prices were little changed on Thursday as investors weighed a ceasefire deal in Gaza that could ease geopolitical tensions in the Middle East against stalled peace talks in Ukraine.
Bren
QNA
09/10/2025
Oil edged lower as traders focused on cooling tensions in the Middle East and higher US inventories.
Brent fell below $66 a barrel on Thursday after rising more than 1% on Wednesday, while W
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