Alexa
  • Directory of Taiwan

Oil price rising on chances for Greek bailout

Oil price rising on chances for Greek bailout

Oil prices are up Monday on hopes that Greece will adopt the spending reforms it needs for an international bailout package.
Government spending cuts and other austerity measures faced heavy opposition in Greece. But analysts said the chances of the reforms being implemented likely increased following a weekend announcement that Prime Minister George Papandreou will step down as a new government is formed.
Benchmark crude rose 79 cents to $95.05 per barrel in morning trading in New York, while Brent crude rose $2.09 to $114.06 in London.
Besides the political developments in Europe, analysts said investors are also paying closer attention to shrinking oil, gasoline and diesel supplies in parts of the U.S.


Updated : 2021-07-29 20:58 GMT+08:00