Oil up 4.5% on Hope for Europe Debt Deal

Source:

"Investors are encouraged that another recession can be avoided and demand for energy products will improve if Greece does not default."

Associated Press, Sandy Shore

Oil prices rose 4.5% Tuesday on hopes that European leaders are closer to drafting a plan to contain the region's debt crisis.

Investors are encouraged that another recession can be avoided and demand for energy products - from oil to diesel and gasoline - will improve if Greece does not default on its debt. Greece's finance minister expects his country to receive the next round of bailout loans in time to avoid a default. German Chancellor Angela Merkel said that her country will do whatever it can to help Greece regain investor confidence. . .View Full Article

Get Our Streetwise Reports Newsletter Free

A valid email address is required to subscribe