Brent Crude Oil Rose Above $111 on Europe’s Debt Crisis Resolution Hopes

Reuters reported that Brent crude oil surged above $111 on speculation that Europe’s debt crisis will soon be resolved.

As quoted in the market news:

Brent futures for March rose $1.09 to a high of $111.75 before easing back slightly to trade around $111.15 by 1400 GMT. U.S. crude oil futures for February were up 70 cents at $101.29 per barrel.

Click here to read the full Reuters report.