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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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| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Brent | 61.22 | -0.33 | -0.54 |
| WTI | 57.52 | -0.38 | -0.66 |
| OPEC Basket | 61.28 | -0.59 | -0.95 |
19/12/2025
Oil prices rose slightly on Thursday as investors assessed the likelihood of further US sanctions against Russia and the supply risks posed by a blockade of Venezuelan oil tankers.
Brent cru
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01/12/2025
Ministers of the Organization of the Petroleum Exporting Countries and allied nations (OPEC+) are expected to keep current output levels unchanged when they meet for online meetings on Sunday, analys
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24/11/2025
At the heart of the US shale industry in Texas, oil production is climbing. But you wouldn't know that if you talked to Mark Waters, who owns a store that sells tools and safety equipment to oil firm
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Financial Information Co.
Saudi Arabia