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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 | 70.7 | -0.16 | -0.23 |
| WTI | 65.74 | 0.23 | 0.35 |
| OPEC Basket | 67 | 1.87 | 2.87 |
05/02/2026
Syria will soon announce a major oil project with US energy giant Chevron, the head of the country's investment authority said on Tuesday, as Damascus seeks to attract foreign capital after years of
Gulfnews
05/02/2026
Oil prices extended gains on Wednesday after the US shot down ?an Iranian drone and armed Iranian boats approached a US-flagged vessel in the Strait of Hormuz, rekindling fears of an escalation in te
Asharq Al Awsat
02/02/2026
OPEC+ agreed to keep its oil output unchanged for March at a meeting, the producer group said on Sunday, even after crude prices hit six-month highs on concern the US could launch a military strike o
Reuters
02/02/2026
Oil prices plunged Monday after Donald Trump said he was hopeful of reaching a deal with Iran, easing concerns about a conflict between the two in the crude-rich region.
West Texas Intermedi
AFP
28/01/2026
The Sultanate of Oman's oil exports recorded a slight decrease of 0.1% by the end of December 2025, reaching 307,960,900 barrels compared to 308,422,100 barrels during the same period in 2024, accord
Times of Oman
Financial Information Co.
Saudi Arabia